News on Medial

Mid-day Mood | Sensex, Nifty maintain upward momentum; broader market lags behind

Money ControlMoney Control · 9m ago
Mid-day Mood | Sensex, Nifty maintain upward momentum; broader market lags behind
Medial

The Indian stock market continued its upward trend, with the Sensex and Nifty reaching record highs following the US Federal Reserve's rate cut. IT and banking stocks contributed to the gains, while the energy sector faced profit booking. Analysts believe that there are no immediate triggers to significantly move the market up or down, and any selling by foreign investors is unlikely to have a significant impact due to ample domestic liquidity. Technical analysis suggests that the Nifty may face resistance around the 26,200-26,250 level. The market will also closely watch for comments from Fed Chair Jerome Powell and other officials for insights into future monetary steps.

Related News

Download the medial app to read full posts, comements and news.