Stock Market Insights: Nifty 50 and Sensex Reach New Highs - Business

The Indian Stock market experienced a significant shift in momentum , with the NSE NIFTY 50 index reaching a new high of 24,861 and the BSE SENSEX rising by 1,292 points to close at 81,332 . This positive sentiment was further boosted by the Bank Nifty index ending 407 points higher at 51,295 . Cash market volumes on the NSE also saw a 5.7 percent increase , with the mid - cap index outperforming the Nifty 50 index.

 Regarding the stock market outlook , Vaishali Parekh , Vice PresidentTechnical Research at Prabhudas Lilladher , emphasized the positive trend . She highlighted the Nifty 50 index 's surge to a new peak of 24,861 as a clear indicator of the market 's improved sentiment . Parekh also pointed out that the Bank Nifty 's move past the significant 50 - EMA of 50,950 zones has paved the way for further growth.

Investors are advised to review their portfolios and consider taking contrarian calls by investing in themes or companies that have been overlooked in recent years . Nimesh Chandan , chief investment officer at Bajaj Finserv AMC Ltd. , stressed the importance of focusing on domestic and consumer - facing companies for long - term growth opportunities . He also noted that there has been a positive uptick in consumer staples and discretionary segments , signaling potential growth in these sectors.

 Mihir Vora , chief information officer at Trust Mutual Fund , highlighted the potential risks posed by global and local economic issues . He specifically mentioned the recent strengthening of the Yen due to the Bank of Japan 's rate hike as a significant concern that could impact market sentiment . Vora also emphasized the need for sustained domestic growth through government spending and rural recovery to keep the market outlook positive.

Stock Market Insights: Nifty 50 and Sensex Reach New Highs

In terms of stock recommendations , Vaishali Parekh suggested buying State Bank of India ( SBI ) , Samvardhana Motherson , and NMDC . She provided specific buy points and target prices for each of these stocks for investors to consider . With the market showing signs of improvement and positive momentum , investors should carefully analyze their portfolios and consider investment opportunities that align with the current market trends.