indian stock market
The interest rate cut cycle may start soon. Due to this hope, a rally is being seen in the stock market. The stock market is expecting that first the Federal Reserve and then the RBI will cut the interest rates. This is the reason why the participation of retail investors has also increased rapidly. Due to which Sensex and Nifty are reaching new highs.
During today’s trading, Sensex hit a fresh record high of 82,725.28, while Nifty 50 also hit a fresh high of 25,333.65 during the session. By the time the market closed, Sensex was up 164 points to 82,530, while Nifty closed trading at 25,273 with a gain of 37 points.
These stocks were trending intraday.
Over 320 stocks, including some of the heavyweights like TCS, Infosys, ITC, HCL Tech, Bharti Airtel, Sun Pharma and Bajaj Finserv, hit their fresh 52-week high in intra-day trade on BSE. Among them, TCS and Bharti Airtel hit their all-time highs, according to BSE data.
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Other top stocks that hit 52-week highs include Bajaj Auto, BPCL, Apollo Hospitals, Cipla, Divi’s Labs, HDFC Life, SBI Life, ICICI Lombard General Insurance Company, Lupin, Naukri, Persistent Systems and PI Industries.
What do the experts say?
According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, a steady but mild bullish phase has begun in the market, which is on the back of accumulation in quality large-cap stocks. The sentiment in the market has also improved due to the shift in FII buyers last week, mainly due to some large bulk deals.
