sensex-hits-fresh-lifetime-peak-of-77-000

Benchmark equity indices ended strong on Tuesday, with NSE Nifty 50 closing at a record high for the fourth consecutive session.

 

Experts suggest that market sentiment is likely to remain robust, driven by a sense of policy continuity and strong global cues.

 

At the close of trading, the Sensex rose 308 points to 77,301, while the Nifty gained 92.30 points, ending at 23,557. Of the shares traded, 1,928 advanced, 1,603 declined, and 109 remained unchanged.

 

During the day, the Sensex and Nifty reached new record highs of 77,366 and 23,579, respectively. Nifty Realty and Nifty Bank sectors led the gains, whereas healthcare, pharma, metal, and FMCG sectors faced selling pressure.

 

"Political stability, good fundamentals, and favorable macro-economic factors are playing out well for India and this should continue," said Aishvarya Dadheech, founder and CIO of Fident Asset Management,.

 

"The June 4 event (election results) is behind us and the market has now settled," he added.

 

Shriram Finance, Power Grid, and Wipro boosted Nifty, while Maruti Suzuki, Dr. Reddy's, and Tata Steel lagged.

 

Wipro shares rose 3% after extending its partnership with US clothing brand Hanesbrands and announcing a new collaboration with financial services firm GBST.

 

Defense stocks, Hindustan Aeronautics surged over 6% after receiving a 'Request For Proposal' from the Ministry of Defence for 156 light combat helicopters.

 

"The market is in a positive trend, with mid-cap and small-cap stocks likely to outperform major indices. This outperformance will be driven by individual stock performance rather than specific sectors, a trend expected to continue this week," said Kranthi Bathini of WealthMills Securities. The broader market outperformed the main indices, with small-cap and mid-cap indices rising 1% and 0.4%, respectively.