Shillong, June 28: Indian equity indices started the day on a positive note with Sensex and Nifty reaching new all-time highs of 79,671 and 24,174 respectively, fueled by buying in largecap stocks.
As of 10 a.m., Sensex was trading at 79,558, up 314 points or 0.40%, while Nifty was up 93 points or 0.39% at 24,137.
Leading the gains were NTPC, Sun Pharma, Tech Mahindra, Tata Motors, and other major players in the market. On the flip side, UltraTech Cement, Axis Bank, IndusInd Bank, and a few others were among the losers.
The Nifty Midcap 100 index rose by 346 points or 0.46% to 55,740, while the Nifty Smallcap 100 index saw an increase of 187 points or 1.03% to 18,352.
In terms of sectoral performance, PSU Bank, Fin service, Pharma, Metal, and Energy sectors were the top gainers, while Auto and realty sectors lagged behind.
Experts believe that the market has the potential to push the Sensex to the 80,000 level, driven by strong largecaps like RIL, Bharti, and leading private sector banks. However, they caution that corrections could occur as the market is currently in the overbought zone, with DIIs booking profits.
DailyBubble’s perspective is that the market’s upward momentum is a positive sign, but investors should remain cautious and be prepared for potential corrections in the near future.