The Sensex settled at a fresh record of 35,511.58 today, adding 251.29 points or 0.71 per cent. The NSE Nifty index touched the historic 10,900 mark before settling at 10,894.70 today, up 77.70 points or 0.72 per cent, which is also another closing high, with 39 constituents ending in the green and only 9 in the red.
Benchmark indices ended at fresh closing highs for a third straight session today, led by financial stocks amid improved investor sentiment after the government decided to cut tax rates on certain products and services. Both indexes posted their seventh consecutive weekly gain.
The domestic equity market witnessed another remarkable session today. After trading quiet and rangebound during the first half of the day, the index saw a sharp upmove in the second half and ended at yet another lifetime high. During the process, the index formed a strong bullish candle on the daily as well as weekly charts. The Nifty50 managed to close above the upper Bollinger Band on both daily and weekly charts. This portrays great possibility of the uptrend continuing, but the overbought nature of the lead indicators will require market participants to remain vigilant at higher levels.