Mumbai (Maharashtra) [India], November 27 (ANI): Nifty touched a new high of 26,285.95 on Thursday, gaining 80.65 points or 0.31 per cent, marking its first new peak in 14 months as bullish sentiment returned to the markets.
The Sensex also climbed sharply in early trade, hitting 85,843.82 points soon after the opening session.
The domestic benchmark indices opened higher, continuing the positive momentum from yesterday’s rally.
The Nifty 50 opened at 26,261.25, up 55.95 points or 0.21 per cent, while the BSE Sensex began the day at 85,741.13, rising 131.62 points or 0.15 per cent.
With strong opening momentum, Nifty moved past its previous record highs. Nifty crossed its earlier peak of 26,277.37 achieved in September 2024. Sensex is also very near to its September 2024 high of 85,978.25.
Investors remained optimistic as the markets signalled a firm return of bullish sentiment.
Ajay Bagga, Banking and Market expert told ANI that Indian markets are well-positioned to reclaim the all-time highs hit in September 2024. “A close above that level can open the way to a rapid catch-up in the Indian markets, which have underperformed over the last 14 months. Historical data shows that after such an underperformance, Indian markets tend to deliver strong returns in the next 12 months,” he said.
Bagga added that corporate earnings are expected to rebound over the next two quarters, and combined with supportive fiscal and monetary policies and recovering domestic consumption, the overall setup is turning positive for Indian equities.
In the commodities segment, gold and silver also continued their upward momentum, tracking global cues.
Ponmudi R, CEO of Enrich Money, said Nifty remains well-positioned above its rising support zone and short-term moving averages.
“The index has consistently formed higher-low patterns, confirming that the broader trend remains bullish despite some profit-booking at higher levels. A sustained 15-minute close above 26,277 can trigger fresh upside momentum toward 26,350-26,500, with a possible extension toward 27,000 in the short term,” he said.
On the downside, he noted immediate support at 26,100-26,000, with a stronger safety zone near 25,850 in case of a sharper pullback.
Global cues also remained supportive. US markets continued their uptrend as expectations of Federal Reserve rate cuts overshadowed the sell-off in AI stocks. Asian markets opened higher, tracking overnight gains in the US, with tech stocks witnessing renewed buying.
Japan’s Nikkei 225 index rose more than 1 per cent, Taiwan’s Weighted Index surged 0.52 per cent, Singapore’s Straits Times gained 0.25 per cent, and South Korea’s KOSPI advanced 0.62 per cent — all reflecting broad positive sentiment across the region. (ANI)
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