Apart from five sectors, which constitute one-third of the overall market, all others are trading at a premium to their historical long-period averages, MOFSL noted
Sensex Today | Stock Market LIVE Updates: BPCL, M&M, SBI Life Insurance, JSW Steel and Power Grid Corp were among major gainers on the Nifty, while losers were Kotak Mahindra Bank, Hindalco, Maruti Suzuki, Divis Labs and Bharti Airtel.
Fed Chair Jerome Powell s remarks over the unlikelihood of more rate hikes eased concerns across global markets, there by lifting sentiment for stocks.
Even though some jitters persisted ahead of the FOMC meet, analysts remain positive of the bullish momentum taking the Nifty and Sensex to fresh record highs in the coming sessions.