Buy or sell: Ruchit Jain of 5paisa recommends buying United Spirits and Wipro stock this week
Stock Market News: The domestic benchmark indices, the Sensex and Nifty 50, ended in green for the fifth straight session on Monday, led by gains in pharma, fast-moving consumer goods (FMCG), and consumer durable stocks. During Monday's session, the Nifty 50 touched a fresh all-time high of 22,186.65 before closing 81.55 points, or 0.37%, higher at 22,122.25.
At 72,708.16, the Sensex ended at a gain of 281.52 points, or 0.39%. Also Read: Stock market today: Nifty 50, Sensex rise for 5th straight day; ICICI Bank, RIL among top contributors Market experts believe that traders' prevailing attitude was one of fear of missing out (FOMO), with value and bargain seeking being the favoured themes.
Looking further, the US PPI inflation remained sticky and did not decline as fast as the market had predicted, but the Nifty 50 continued to rise. “It’s really nice to see Nifty 50's remarkable ability to quickly bounce back from anything that points to the hawkish Federal Reserve backdrop.
The biggest positive takeaway was that Bank Nifty is seen joining the conga line of rising sectoral indices on backdrop of improving asset quality and the government's continued focus on fiscal prudence," said Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities. "Exciting news! Mint is now on WhatsApp Channels
. Read more on livemint.com
