- विज्ञापन -
Mumbai: Nifty at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading hour on Wednesday. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty.
Rate cut hopes in the US and subsequent buying from foreign portfolio investors supported the market. The sectoral index of IT was trading with a lead of 1.96 per cent with stocks of major IT companies such as LTIMindtree, Wipro, and Infosys are trading as the biggest gainers in the trade.
Stock market opened today nearly flat with Nifty starting above 25,000 and BSE Sensex opening at 81,800. Over the past few trading sessions, the Nifty was in the tight range despite the positive global cues.
“Finally it has broken through to fresh all-time highs. This opens up possibilities for a strong upmove now. Sector-wise, domestic cyclicals will lead the way while IT is coming back in favour of selective name,” said Ajay Bagga, Market and Banking expert. “This new high has taken some time after the previous high of August 1st, but the markets have weathered the geopolitical newsflow, the disorderly Yen carry trade unwinding moves and the minor panic on an incipient US slowdown leading to a hard landing,” he added.
