MUMBAI: Nifty scaled a new all-time high in Wednesday’s session, while the sensex went above the 82K mark after about four weeks, but both indices closed flat. Global factors, especially the increasing chances of a rate cut by the US Fed since it started increasing rates in Feb 2022, boosted investor sentiment worldwide, and also had an impact on Dalal Street.
Nifty opened marginally higher at 25,031 points, touched its all-time high at 25,130 points in mid-session and closed at 25,052 points – up 35 points on the day. The sensex followed a similar pattern to touch an intraday high at 82,039 points and closed at 81,786 points, up 74 points.
According to Prashanth Tapse, senior VP (research), Mehta Equities, after a volatile start, markets moved in a range and finally ended a tad bit higher as investors stayed cautious ahead of Thursday’s expiry of the current month’s derivative contracts. “Benchmark indices have already rallied for seven straight sessions and stretched valuations may lead to profit taking in the near term,” Tapse said in a note to investors.
Nifty opened marginally higher at 25,031 points, touched its all-time high at 25,130 points in mid-session and closed at 25,052 points – up 35 points on the day. The sensex followed a similar pattern to touch an intraday high at 82,039 points and closed at 81,786 points, up 74 points.
According to Prashanth Tapse, senior VP (research), Mehta Equities, after a volatile start, markets moved in a range and finally ended a tad bit higher as investors stayed cautious ahead of Thursday’s expiry of the current month’s derivative contracts. “Benchmark indices have already rallied for seven straight sessions and stretched valuations may lead to profit taking in the near term,” Tapse said in a note to investors.