D-Street Snippet: Sensex Surpasses Key Psychological Level, Nifty PSU Bank Shines

By Malvika Gurung — The domestic market made a strong start on Friday, following positive cues across global markets and broad-based buying in equities. 

Indian equity benchmark indices opened up to 0.7% higher, while the 30-scrip index surpassed the key psychological 60,000 mark for the first time in three weeks in early trade, touching 60,119.8. 

At the time of writing, indices surged 0.51% and Sensex gained 0.45% or 271.2 points, aided by buying across industry heavyweights like SBI (NS:) and Hindustan Unilever (NS:), among others.

All sectoral indices listed under the Nifty umbrella traded in the green, led by and . 

surged 1% and is inching towards witnessing record highs. The index soared to a new high of 40,265.75 in the previous session, posting its highest level in over 10 months. 

V K Vijayakumar of Geojit Financial Services states that the market momentum is strong in India, enough for the benchmark indices to be moving towards their record highs.

He suggests investors remain invested in the strong market despite valuations getting expensive. “Domestic economy-facing stocks continue to be the favourites”.

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