Bull run in Indian bourses, BSE, Nifty touch record high
The Sensex scaled nearly 150 points to hit a new high of 28,006. The Nifty also climbed to 8,363 points which is also a new high.
The gains were driven by banking stocks which rose in anticipation of a rate hike next month.
The banking sub-index on the National Stock Exchange (NSE) hit an all-time high of 17,316, sources said.
This was the fourth consecutive session when Indian stock markets touched record highs.
Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd said the Indian Stock Market is in strong Bull Run and investors should hold long positions & trail stop losses while fresh investors should use every small dip to enter in long position.
"By the year end we are expecting Nifty to test the levels of 9000 & Sensex to test the levels of 32,000 This Bull Run is majorly supported by positive domestic & global cues," he said.
"Recent announcement of BOJ’s, the fall in crude is really very supportive for India which will help to meet the fiscal deficit target. We also recognise that while inflation is coming down & measures announced by the Reserve Bank will enhance India's sovereign profile, the government to meet its fiscal deficit target of 4.1 percent for this year,” he added.
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