First, sensex breaks the 75,000 barrier inside a day, and Nifty achieves a new high

MUMBAI: As traders and investors awaited the release of the critical US retail inflation data for March, the sensex finished over the 75K level for the first time on Wednesday, closing up 354 points at 75,038 points. The Nifty closed at 22,754 points on the NSE, up 111 points.

Tuesday’s market saw the Sensex surpass the milestone for the first time, reaching a high of 75,124 points before profit-taking caused it to settle at 74,684.

According to BSE statistics, foreign funds outpaced local funds in Wednesday’s market purchasing, with a net inflow of Rs 2,778 crore, while domestic funds’ net buying was subdued at Rs 163 crore. BSE’s market capitalization was Rs 402 lakh crore at the end.
The chief of research at Geojit Financial Services, Vinod Nair, claims that although Indian markets continued to rise, they were somewhat behind their Asian and European peers. “Investor attention remains fixated on the impending release of the FOMC minutes and US inflation data later today (on Wednesday).”
Market participants were expecting a spike in retail inflation after the release of robust US jobs data last week, which would lessen the likelihood of a rate cut in the near future in the largest economy in the world. “Fitch’s recent downgrade of China’s credit rating could potentially reverberate through the global economy, warranting caution,” Nair continued.