At close, BSE Sensex was trading 164.99 points higher at 65,558.89 and Nifty50 was trading 29.45 points higher at 19,413.75.
New Delhi: Indian indices opened strong Thursday following an overnight rise in the US market. Sensex opened at 65,667.07 (previous close: 65,393.90), touched a record high of 66,064.21; Nifty, meanwhile, opened at 19,495.20 (previous close: 19,384.30), and touched a record high of 19,567.00 during the day’s trade.
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At close, BSE Sensex was trading 164.99 points higher at 65,558.89 and Nifty50 was trading 29.45 points higher at 19,413.75.
“Encouraging global support as well as better than expected quarterly earnings from domestic companies propelled Sensex & Nifty to fresh record highs. Stocks like Infosys, TCS, HDFC Bank and Reliance Industries are the pillars supporting the markets. The fresh rally has come even as rising inflation remains a concern. Traders should maintain some caution while taking any fresh position, although the overall undertone is still bullish,” said Rakesh Mehta, Chairman at Mehta Equities Ltd.
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“We believe global markets will be highly focused and investors believe the Fed would give markets incentives by hitting a pause on future rate hikes following the recent microeconomic data points. Technically speaking, Nifty’s technical landscape is now suggesting a desired consolidation with interweek support at 19171 mark. For index, the immediate hurdles are placed at 19577 mark and then at 20000 mark, while the 200 DMA is placed at 18017 mark. Overall Nifty aims to reach 20K in the near term,” he added.
