Image Source : FILE Business stock exchange building.
The BSE Sensex soared to an all-time high on Friday, jumping 243.15 points to reach 79,486.33 in the opening trade. The NSE Nifty followed suit, climbing 74.2 points to a record 24,118.7. Key large-cap stocks such as NTPC, Sun Pharma, Tech Mahindra, PowerGrid, and Tata Motors were among the biggest gainers, rising up to 1.63%.
Mixed performance among shares
Despite the overall positive trend, 11 of the 30 Sensex shares were trading down. Notable losers included UltraTech Cements, Adani Ports, IndusInd Bank, Maruti, and Axis Bank, which fell up to 1.21%.
Expert insights
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted the market’s potential to reach the 80,000 level, driven by strong large-cap stocks like Reliance Industries (RIL), Bharti Airtel, and leading private sector banks. However, he cautioned that the market’s overbought status could lead to corrections. Vijayakumar advised investors to consider booking partial profits in mid and small-cap stocks and reallocating funds to fixed income due to elevated market valuations.
Market outlook
While the market remains robust, concerns about elevated valuations persist. The broader market is expected to continue its weak trend, with potential corrections on the horizon. Investors are advised to monitor market conditions closely and adjust their portfolios accordingly.
Also read | ‘Reform, transform and perform has worked’: President Murmu highlights govt’s achievements in Parliament
