The S&P BSE Sensex on Friday scaled to its all time closing excessive of 84,544.31 factors, up 1,359.51 factors or 1.63% buoyed by important rate of interest minimize in the usand shopping for in auto and banking shares.
High Sensex gainers included M&M (5.57%), ICICI Financial institution (3.77%), JSW Metal (3.66%), L&T (3.07%) and Bhatri Airtel (2.84%).
The NSE Nifty-50 index too surged 375,15 or 1,48% to 25,790.
Ameya Ranadive, Senior Technical Analyst, StoxBox mentioned,” Asian markets prolonged their rally on Friday, buoyed by the optimism following a major rate of interest minimize within the U.S., whereas the yen strengthened because the Financial institution of Japan maintained its regular fee of 0.25% and expressed confidence within the economic system.”
He mentioned whereas broader indices rose, all sectoral indices completed decrease.
Osho Krishan, Senior Analyst, Technical & Derivatives, Angel One Ltd mentioned the buoyant international developments and sustained market momentum have propelled the bullish sentiment, driving the markets to realize new peaks regularly.
“The current developments are significantly charming, as broader market participation is reinforcing the arrogance of merchants and buyers alike. From a technical perspective, we’ve entered a section the place the market is overbought, as indicated by varied metrics,” he mentioned.
Due to this fact, it’s essential to keep away from complacency and as an alternative undertake a sensible and reasonable strategy to the present scenario, he added
Printed – September 20, 2024 09:18 pm IST
