Mumbai: Indian Equity Indices Open Strong, Reach New All-Time Highs
Mumbai: Indian equity indices opened on a positive note on Friday, driven by buying in large-cap stocks. The Sensex and Nifty reached new all-time highs of 79,671 and 24,174, respectively.
As of 10 a.m., the Sensex stood at 79,558, up 314 points or 0.40 percent, while the Nifty was at 24,137, up 93 points or 0.39 percent.
Top gainers included NTPC, Sun Pharma, Tech Mahindra, Tata Motors, Power Grid, Tata Steel, Nestle, Asian Paints, Infosys, HDFC Bank, and JSW Steel. Conversely, UltraTech Cement, Axis Bank, IndusInd Bank, Maruti Suzuki, and HCL Tech were among the losers.
The Nifty Midcap 100 index rose by 346 points or 0.46 percent to 55,740, while the Nifty Smallcap 100 index increased by 187 points or 1.03 percent to 18,352.
Sectoral indices showed that PSU Bank, Financial Services, Pharma, Metal, and Energy were the major gainers, while Auto and Realty sectors lagged.
Experts noted, “The market momentum has the potential to take the Sensex to the 80,000 level. The healthy trend in the recent rally is driven by fundamentally strong large-caps like RIL, Bharti, and leading private sector banks.”
They added, “Corrections can occur at any time as the market is in the overbought zone, and domestic institutional investors (DIIs) are booking profits.”
