Mumbai : A rally in IT stocks propelled the benchmark indices – S&P BSE Sensex – beyond the 73,000 mark and NSE Nifty 50 beyond 22,000 for the very first time on January 15. The Sensex reached an unprecedented peak of 73,288, while the Nifty achieved a record high of 22,081 during morning trading sessions. Analysts anticipate that this upward momentum will continue, particularly as India Inc unveils its October-December (Q3FY24) financial results.
As the week begins, there is optimism about the Nifty potentially reaching objectives of 22,240 or 22,400. An interim consolidation point on the upward trajectory could be around 22,013 levels, though the likelihood of a significant downturn is currently considered to be low, according to Anand James, Chief Market Strategist at Geojit Financial Services.