
Nifty hits 20,000-mark; 21,000 by Diwali? Here’s what analysts say
Nifty is on track to hit 20,432 this month and 21,000 by Diwali, says Rahul Sharma of JM Financial Services.
Nifty is on track to hit 20,432 this month and 21,000 by Diwali, says Rahul Sharma of JM Financial Services.
Jio Financial Services, Reliance Industries, Power Grid, JSW Steel, Larsen & Toubro, and ONGC contributed the most to the losses in Sensex.
The sell-off in the equity market was triggered by weakness in index heavyweights such as Infosys, TCS, HCL Technologies, RIL, and HUL as well as bearish global cues.
The equity benchmark indices continued their record setting spree on Monday on the back of sustained fund inflows by foreign portfolio investors.
The BSE Sensex and NSE Nifty recorded their fresh all-time high for the fourth session in a row on Tuesday on the back of strong FPI flows.
The market capitalisation of BSE-listed firms hit an all-time high of ₹296.04 lakh crore, breaching its previous high of ₹294.36 touched on June 21.
As Nifty breaks 19,000 level, it may induce an upward movement towards the 19,450, says analyst at LKP Securities.
The BSE Sensex crossed the previous all-time high of 63,583, which was hit in December last year, led by index heavyweights, including RIL, HDFC twins, Bharti Airtel, and L&T.
Levy on petrol, diesel, and aviation turbine fuel has been kept unchanged at zero
Investors lost nearly ₹4.27 lakh crore in wealth as Sensex and Nifty fell 1.53% each, registering their biggest one-day fall in a month.