Indian frontline indices again touched an all-time high on Thursday as strong buying was seen in IT stocks. Sensex and Nifty made an all-time high of 79,240 and 24,036 respectively. This is the first time that nifty crossed the 24,000 mark and Sensex exceeded the 79,000 level.
At 12:55 p.m., Sensex was up 418 points or 0.53 per cent at 79,092, and Nifty was up 135 points or 0.53 per cent at 24,004.
Among the sectors, buying is seen in IT, oil and gas, and FMCG while, PSU bank, auto, pharma, and media are top laggards.
According to the experts, “The market will remain bullish in the near-term despite the valuation concerns, and the ongoing momentum has the potential to take the Sensex to 80000 levels.”
“A healthy trend in the market is that now the up move is being led by fundamentally strong largecaps in sectors like banking and telecom,” they added.
In Sensex pack, Ultratech (NS:ULTC) cement, Wipro (NS:WIPR), JSW steel, Infosys (NS:INFY), Tech Mahindra (NS:TEML), NTPC (NS:NTPC), TCS (NS:TCS), and Kotak Mahindra (NS:KTKM) are top gainers. However, L&T, Maruti Suzuki (NS:MRTI), Sun Pharma (NS:SUN), IndusInd Bank (NS:INBK), and Bajaj Finance (NS:BJFN) are top losers.
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