Sensex at all-time high, to touch 80K as largecap stocks lead the way
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Indian fairness indices opened in inexperienced on Friday following shopping for in largecap stocks. Sensex and Nifty made a brand new all-time excessive of 79,671 and 24,174 respectively.
At 10 a.m., Sensex was at 79,558, up 314 factors or 0.40 per cent and Nifty was up 93 factors or 0.39 per cent, at 24,137.
NTPC, Sun Pharma, Tech Mahindra, Tata Motors, Power Grid, Tata Steel, Nestle, Asian Paints, Infosys, HDFC Bank and JSW Steel are the high gainers. Whereas, ExtremelyTech Cement, Axis Bank, IndusInd Bank, Maruti Suzuki and HCL Tech are the losers.
The Nifty Midcap 100 index is up 346 factors or 0.46 per cent at 55,740 and the Nifty Smallcap 100 index is up 187 factors or 1.03 per cent at 18,352. Among sectoral indices, PSU Bank, Fin service, Pharma, Metal and Energy are main gainers. Auto and realty are high laggards.
According to the consultants, “The market momentum has the potential to take the Sensex to 80,000 degree. The wholesome development in the latest rally is that it’s pushed by essentially robust largecaps like RIl, Bharti and the main non-public sector banks.”
“Corrections can occur any time since the market is in the overbought zone and DIIs are reserving earnings,” they added.
(With inputs from IANS)
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