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As the bull market keeps going, the Nifty reaches a new peak

<p>Monday saw advances in banking and FMCG firms propel the Nifty to a new lifetime high and the benchmark Sensex to an increase of 281 points. This was the fifth day in a row that stock markets finished higher.</p>
<p><img decoding=”async” class=”alignnone wp-image-421322″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-as-the-bull-market-keeps-going-the-nifty-reaches-a-new-peak-2024-2largeimg-1365998.jpg” alt=”theindiaprint.com as the bull market keeps going the nifty reaches a new peak 2024 2largeimg 1365998″ width=”1076″ height=”756″ title=”As the bull market keeps going, the Nifty reaches a new peak 6″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-as-the-bull-market-keeps-going-the-nifty-reaches-a-new-peak-2024-2largeimg-1365998.jpg 700w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-as-the-bull-market-keeps-going-the-nifty-reaches-a-new-peak-2024-2largeimg-1365998-150×105.jpg 150w” sizes=”(max-width: 1076px) 100vw, 1076px” /></p>
<p>The 30-share BSE Sensex closed at 72,708.16, up 281.52 points, or 0.39 percent. Thirteen Sensex equities finished down, while as many as 17 saw gains. In day trading, the index reached a high of 72,881.93 after a strong start. The overall Nifty finished at 22,122.25 points, up 81.55 points or 0.37 percent from the previous close. This was the index’s all-time high.</p>
<p>Along with reaching its intraday record high of 22,186.65, the 50-issue barometer was aided by increases in oil, banking, and pharmaceutical companies. Twenty-three Nifty equities fell while as much as 27 saw gains. “Overall mood seems to be setting up Nifty for a possible short-term rise towards 22,500–22,600. 22,000 is the immediate critical support level, according to Rupak De, Senior Technical Analyst at LKP Securities.</p>
<p>In the overall market, the BSE Midcap increased by 0.29 percent, while the BSE SmallCap outperformed its larger competitors by gaining 0.77 percent. The large-cap BSE was up 0.35%. Sectoral indexes saw increases of 1.52 percent for BSE Telecom, 1.29 percent for BSE Utilities, 1.76 percent for BSE Consumer Durables, 1.22 percent for BSE Services, and 0.84 percent for FMCG.</p>
<p>BSE Metal lost 0.87 percent, Realty 0.63 percent, Capital Goods 0.62 percent, and IT 0.26 percent among the losers. Monday saw major market indexes closing higher for a fifth day in a row, gaining around 2.3%.</p>

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