Domestic equity bulls drove a 1000-point rally in S&P BSE Sensex, surpassing 75,000. Nifty50 hit a new high. Market sentiment buoyed by various factors. Future direction may hinge on earnings performance.
FMCG businesses such as ITC Ltd, Hindustan Unilever Ltd and Asian Paints Ltd and private lenders namely HDFC Bank Ltd and Axis Bank Ltd were among top losers from the index.
"The market looks positive even though it has run up a lot," said Dharmesh Shah, head of technicals at ICICI Direct. "A breather cannot be ruled out at the psychological levels of 21,000, which should not be looked at as a negative construction, but a buying opportunity for traders."