Sensex crosses 85,000 for 1st time, Nifty hits record high

As of 10:05 AM, the S&P BSE Sensex had risen 80.74 points to 85,009.35, while the NSE Nifty50 was up 29.15 points to 25,968.20.

In Short

• Sensex and Nifty hit fresh highs despite Middle East tensions
• Broader market indices contribute to gains, sectoral indices struggle
• Experts advise profit booking, caution amid overbought market conditions

Benchmark stock market indices hit fresh highs on Tuesday despite rising geopolitical tensions in the Middle East, though volatility remained a key factor throughout the session.

As of 10:05 AM, the S&P BSE Sensex gained 80.74 points to reach 85,009.35, while the NSE Nifty50 rose 29.15 points, settling at 25,968.20. Broader market indices also contributed to the overall gains on Dalal Street, with most trading in positive territory.

However, several key sectoral indices, including Nifty Bank, Nifty Financial Services, and Nifty IT, struggled and were in the red.

Top performers on the Nifty50 included Tata Steel, Hindalco, Power Grid, JSW Steel, and M&M, while LTIM, HUL, Bajaj Finance, Kotak Mahindra Bank, and Ultratech Cement emerged as the biggest laggards.

Commenting on the market sentiment, Sameet Chavan, Head of Research, Technical and Derivatives at Angel One, noted, "Despite rising concerns from global markets, domestic equities continued their gravity-defying rally at the start of the expiry week. Broader market participation added to the bullish sentiment."

Chavan cautioned that with the monthly expiry looming and markets nearing overbought territory, investors should consider booking profits regularly. "While select sectors show promise, a stock-specific approach remains crucial amid the heightened volatility. Staying attuned to global developments will be key to navigating these choppy waters," he added.