Indian Stock Markets Reach Record Highs: Sensex and Nifty Shine
On Monday, Indian stock indices Sensex and Nifty closed at record highs. Sensex settled at 80,664.86 points, up 0.2%, while Nifty settled at 24,586.70 points, up 0.4%.
Sectoral Gains
Among sectoral indices, PSU banks surged the most at 3.07%, followed by Nifty media at 1.53%, Nifty pharma at 1.13%, and Nifty realty at 1.34%.
Market Optimism
Vinod Nair, Head of Research at Geojit Financial Services, said, “The Indian market continues to experience optimism driven by positive expectations from the upcoming Union Budget, robust FII inflows, and better-than-expected results from the IT sector. Additionally, the initial results from PSU banks have triggered a strong rally in the PSU index.”
Ajit Mishra, SVP of Research at Religare Broking Ltd., added, “We maintain a positive outlook and recommend a ‘buy on dips’ strategy. In addition to favorable domestic factors, positive global cues are boosting sentiment. Traders should continue to focus on stock selection and trade management.”
Upcoming Events
Market participants are looking forward to the Budget presentation on July 23. The Indian stock market will be closed on July 17 due to Muharram.
