Mumbai: Fueled by favorable global cues, including US markets closing at record highs and speculation of a rate cut before the elections, the Nifty and Sensex hit fresh highs, extending their gains for the second consecutive session. Key contributors to the rally were IT, auto, and metal stocks.
At 10.30 am the Sensex was up 0.27 percent at 80,212, and the Nifty had risen by 0.22 percent to 24,340 points.
At around 9:30 am, the Sensex was up 0.30 percent at 80,224, and the Nifty had risen by 0.28 percent to 24,353. About 2,034 shares advanced, 887 shares declined, and 98 shares remained unchanged.
Market experts suggest that the worst for the IT sector is largely over, and valuations appear cheap from a long-term perspective.