Sensex Hits Record 85,000, Nifty Nears 26,000

Sensex Hits All-Time High, Crosses 85,000; Nifty Nears 26,000

On Tuesday, benchmark stock market indices hit fresh highs as the S&P BSE Sensex crossed the 85,000 mark and the NSE Nifty50 neared 26,000. This surge occurred despite rising geopolitical tensions in the Middle East, although the markets are currently witnessing high volatility.

As of 10:05 AM, the S&P BSE Sensex was up by 80.74 points, reaching 85,009.35, while the NSE Nifty50 added 29.15 points to trade at 25,968.20.

Sameet Chavan, Head Research, Technical and Derivative at Angel One, commented, “The bulls continued their strong momentum at the start of the expiry week, pushing the benchmark indices to new heights. Despite mixed global cues over the weekend, domestic market sentiments remained buoyant with participation from broader markets.”

Chavan further added, “Given the monthly expiry and overbought conditions, it is advisable to proactively secure profits at regular intervals instead of taking a complacent approach. Moreover, various sectors in the broader market are showing signs of outperformance. Therefore, maintaining a stock-specific strategy while closely monitoring global market trends is crucial.”

Market analysts have suggested that volatility may persist due to global uncertainties and the nearing expiry of derivatives contracts this month. Investors are advised to adopt a stock-specific approach and book profits periodically to safeguard against market fluctuations.