Sensex at All-time High as Largecap Stocks Lead

Indian equity indices opened in green on Friday following buying in largecap stocks. Sensex and Nifty made a new all-time high of 79,671 and 24,174 respectively.

At 10 a.m., Sensex was at 79,558, up 314 points or 0.40 per cent and Nifty was up 93 points or 0.39 per cent, at 24,137.

NTPC, Sun Pharma, Tech Mahindra, Tata Motors, Power Grid, Tata Steel, Nestle, Asian Paints, Infosys, HDFC Bank and JSW Steel are the top gainers. Whereas, UltraTech Cement, Axis Bank, IndusInd Bank, Maruti Suzuki and HCL Tech are the losers.

The Nifty Midcap 100 index is up 346 points or 0.46 per cent at 55,740 and the Nifty Smallcap 100 index is up 187 points or 1.03 per cent at 18,352.

Among sectoral indices, PSU Bank, Fin service, Pharma, Metal and Energy are major gainers. Auto and realty are top laggards.

According to the experts, "The market momentum has the potential to take the Sensex to 80,000 level. The healthy trend in the recent rally is that it is driven by fundamentally strong largecaps like RIl, Bharti and the leading private sector banks."

"Corrections can happen any time since the market is in the overbought zone and DIIs are booking profits," They added.