Thermax Ltd.’s shares surged by 14% to a new all-time high of ₹5,347 in early BSE trading after the release of the company’s exceptional March quarter (Q4) results. The surge represents a 144% increase from its 52-week low of ₹2,192.70 hit in May 2023.
Shares of State Bank of India (SBI) surged to a fresh record high on Monday, breaching the Rs 800 mark for the first time. The stock’s rally was driven by strong quarterly earnings and a positive sentiment in the banking sector. Analysts predict further gains for SBI, with targets of Rs 820-830 in the coming days.
The FTSE 100, London’s benchmark stock index, has reached its highest level ever, closing at a record-breaking 8,023.87 on Monday. The rally is attributed to easing geopolitical tensions, an improved economic climate, and expectations of a potential UK interest rate cut. Financial analysts suggest that the rally is being fueled by the anticipation of interest rate cuts in the UK, which could arrive sooner than in the US. The stronger dollar has also contributed to the rise in the FTSE 100, as many large international firms listed on the index generate earnings in dollars and report them in pounds. This makes them more profitable when the dollar strengthens, giving a lift to London’s stock markets.
European stock markets commenced Tuesday with an optimistic tone, with the FTSE 100 reaching an intraday record as investors remained buoyant from the previous session’s momentum. The broader European benchmark rose 0.5% in early trading, with most sectors posting gains. Tech companies led the rally with a 1.8% increase, while mining stocks declined 0.7%. Notably, the FTSE 100 scaled new heights, climbing 0.55% to an all-time intraday peak of 8067.73.
