Stocks continued their upward journey as benchmark indices Sensex and Nifty climbed all-time peaks on Wednesday, 27 December.
The NSE Nifty 50 and the BSE Sensex both reached new peaks, hitting 21,654 and 72,038, respectively, at the session’s close, reflecting a robust 1% and 0.9% gain.
This upward trend was not limited to these benchmarks as the Bank Nifty also reached record heights, surpassing the 48,240 mark, thanks to notable advances in banks like HDFC, SBI, Bank of Baroda, PNB, and IndusInd Bank.
This positive market movement extended to broader indices as well, with the Nifty Midcap 100 and the Nifty Smallcap 100 both recording up to a 0.6% increase.
Despite these gains, analysts urge caution, pointing out the high valuations and predicting potential market corrections.
The prevailing sentiment among market observers is one of optimism, fueled by the ongoing Santa Claus rally.
This trend suggests that bulls might maintain their dominance in the market, especially as the monthly F&O expiry approaches.
There’s a general agreement that the market is tilting towards positivity, with expectations of ending the year on a high note.