Bull run in Indian stock market: Sensex hits fresh high, crosses 75,000; Nifty above 22,750 for first time

Sensex breached 75,000-mark for the first time in the early trade hours and Nifty too climbed to its fresh new record peak on Tuesday, April 9.

The benchmark equity indices continued their record-breaking rally on the second day of the week getting fillip from big purchase in IT stocks.

The 30-share BSE Sensex climbed 381.78 points to reach its all-time peak of 75,124.28. The NSE Nifty advanced 99 points to hit its record peak of 22,765.30.

At 10:37 IST, Sensex was trading 303.69 points higher at 75,046.19, while Nifty was up 81.90 points at 22,748.20.

From the Sensex basket, Infosys, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Tata Motors, Wipro, ICICI Bank and Nestle were the major gainers.

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Experts expect the 50-stock Nifty to continue making new highs in the coming days, as the bullish undertone remains intact.

Amidst the mixed global signals, analysts suggest there may be short-term fluctuations, presenting traders with opportunities to add quality stocks.

Analysts forecast on Indian stock market

Nifty is expected to stay in the 22,529-22,810 band for the near term, said Deepak Jasani, Head of Retail Research at HDFC Securities, adding that the Nifty formed a higher top higher bottom formation compared to the previous sessions.

Deven Mehata, Research Analyst at Choice Broking, said the bullish momentum can continue in the near-term and suggested traders to buy-on-every-dip.

“Traders holding long positions should trail stop loss at 22,500 on closing basis,” Mehta suggested.

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In Asian markets, Tokyo and Hong Kong were trading in the positive territory while Seoul and Shanghai quoted lower.

Wall Street ended on a mixed note on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 684.68 crore on Monday, according to exchange data.

Global oil benchmark Brent crude climbed 0.19 per cent to USD 90.55 a barrel.

The BSE benchmark jumped 494.28 points or 0.67 per cent to settle at a new closing peak of 74,742.50 on Monday. The NSE Nifty climbed 152.60 points or 0.68 per cent to 22,666.30.

With inputs from agencies