Sensex, Nifty hit record highs tracking positive global cues
Mumbai, November 9, 2020
The Indian equity indices hit all-time high levels on Monday morning tracking positive global cues after Joe Biden, the Democrat candidate, defeated incumbent US President Donald Trump in the 2020 presidential elections.
Sensex has touched an all-time high of 42,566.34 points and the Nifty50 on the National Stock Exchange touched its fresh high of 12,451.80 points.
At around 10.10 a.m., Sensex was trading at 42,512.25, higher by 619.19 points or 1.48 per cent from its previous close of 41,893.06.
It opened at 42,273.97 and has so far recorded an intra-day low of 42,273.97.
The Nifty50 was trading at 12,433.15, higher by 169.60 points or 1.38 per cent from its previous close.
The healthy buying across sectors was led by banking and finance stocks.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "The trend of the Nifty continues to remain strong with a fierce upside momentum. After crossing the hurdle of 11,900, there has been no looking back.
"A strong support lies at 12,100 and if the Nifty crosses 12,500 which is the weekly resistance level, we can expect it to climb towards 12,650."