On Friday, Indian equity benchmarks surged to new all-time highs, with the BSE benchmark index – S&P BSE – setting a new all-time high. The Sensex has broken above 60,000 for the first time, while the Nifty has risen above its important psychological barrier of 17,900. Rises in Infosys, HDFC Bank, Tata Consultancy Services, ICICI Bank, HCL Technologies, and Larsen & Toubro are fuelling this, and are positive indicators for the global economy. The Sensex climbed by 427 points to a new high of 60,312.51, while the Nifty 50 index hit a new elevated high of 17,947.
The Sensex was up 278 points at 60,163 as of 9:25 a.m., and the Nifty 50 index was up 109 points at 17,932.
“Opportunities of a significant economic comeback and persistent growth over the next few years encourage bulls. Also, from the standpoint of global capital, India remains an appealing destination, particularly in the China+1 scenario. Having said that, retail investors must have a well-diversified portfolio at this time in order to weather any volatility”, said Sandeep Bharadwaj, CEO of IIFL Securities’ retail division.
