Indian equity markets opened on a strong note today, with both the Sensex and Nifty touching new all-time highs fueled by robust buying across large-cap stocks.
The Sensex surged to a peak of 79,671, marking a substantial gain, while the Nifty also reached a record level of 24,174 during early trading hours.
As of 10 AM, the Sensex was trading at 79,558, up by 314 points or 0.40%, while the Nifty showed a gain of 93 points or 0.39%, standing at 24,137.
Leading the charge among gainers were stocks such as NTPC, Sun Pharma, Tech Mahindra, Tata Motors, and Power Grid.
Conversely, UltraTech Cement, Axis Bank, IndusInd Bank, Maruti Suzuki, and HCL Tech were among the notable losers in the market.
The broader market indices also exhibited positive momentum, with the Nifty Midcap 100 index rising by 346 points or 0.46% to 55,740, and the Nifty Smallcap 100 index climbing 187 points or 1.03% to 18,352.
Sector-wise, gains were prominent in PSU Banks, Financial Services, Pharmaceuticals, Metals, and Energy sectors, while the Auto and Realty sectors lagged behind.
Market analysts noted, “The current rally, led by strong performances in large-cap stocks like RIL, Bharti, and leading private sector banks, indicates a bullish trend with potential to propel the Sensex towards the 80,000 mark.”
However, they cautioned that corrections could occur given the market’s overbought condition and profit-booking activities by DIIs (Domestic Institutional Investors).
Investors and analysts alike are closely monitoring these developments amidst ongoing global economic uncertainties and domestic policy shifts impacting market sentiment.
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