Nifty retained its winning streak on Tuesday for the sixth session in a row and hit a fresh lifetime high catapulted by index heavyweight HDFC Bank. The 50-stock index finished at 22,196.95, higher by 74.70 points or 0.34%.
In his view, Nifty now aims for an all-time high at 22,127, backed by dominant bullish sentiment despite concerns over higher interest rates impact on economic growth.
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Indian benchmark indices end with declines amid bearish trends, led by selling pressure in IT, auto, and bank stocks. S&P BSE Sensex settles at 71,139.90, down 801.67 points or 1.11%. Nifty closes with declines of 215.50 points or 0.99% at 21,522.10. Analysts suggest that a significant decline below the important support level of 21,500 could initiate a market correction.
Nifty recovered from the days low and two session setback to trade with 160 points lead at 21,399.35 on Wednesday aided by recovery in bank, IT and FMCG stocks.