The index will move higher, over the next two years or so.
We are well in a bull market but when I look at the index constituents besides
the Nifty, 30 percent of it in defensive type sectors and share prices won’t
move up as much as they have done over the past few years.
Equity benchmarks gained strength with the 50-share NSE Nifty rising 21.05 points to touch a record high of 7816.80 and the 30-share BSE Sensex advancing 82.44 points to 26229.77.
Equity benchmarks gained strength with the 50-share NSE Nifty rising 21.05 points to touch a record high of 7816.80 and the 30-share BSE Sensex advancing 82.44 points to 26229.77.
The barometer index, the S&P BSE
Sensex, and the 50-unit CNX Nifty, both, hit record high. The Sensex was up
61.37 points or 0.23%, up about 130 points from the day's low.
The index rose 62.31 points at the day's high of 26,209.64 in mid-afternoon
trade, a record high for the index. The index fell 69.63 points at the day's
low of 26.077.70 in early trade.
The CNX Nifty was up 25.90 points or 0.33% to 7,821.65. The index hit a high
of 7,823.70 in intraday trade, a record high for the index. The index hit a low
of 7,771.65 in intraday trade.
The market breadth indicating the overall health of the market was negative.
On BSE, 1,396 shares declined and 1,393 shares gained. A total of 124 shares
were unchanged.
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