April 8, 2023
New Delhi, India
The Indian stock market witnessed a bullish run on Monday, with both the Sensex and Nifty indices reaching new record highs. Despite mixed cues from global markets, sectors like auto, realty, and metal contributed to the upward movement.
Market Performance: The Sensex surged by 494 points to close at 74,743, while the Nifty gained 152.60 points to end at 22,666. Auto, realty, and metal sectors saw significant gains, while PSU banks underperformed. MidCap indices showed slight gains, but SmallCap remained flat.
Factors Driving Movement: The market was supported by gains in heavyweight stocks like Maruti Suzuki, M&M, and Reliance Industries. However, mixed cues from global markets and fluctuations in crude oil prices impacted the sentiment.
Market Outlook: Despite the bullish run, market momentum remains subdued. Traders are advised to remain cautious due to potential intermediate dips influenced by global cues. Quality stocks are recommended amidst the fluctuations.
Conclusion: The Indian stock market demonstrated strength, reaching new record highs driven by gains in key sectors. However, caution prevails amidst mixed global cues and fluctuating crude oil prices. Investors are advised to focus on quality stocks for sustained gains.
Disclaimer:
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