Benchmark stock market indices opened the trading session on a positive note, backed by a rebound in information technology (IT) stocks.
At around 9.47 am, Sensex was up 259.27 points to 75,001.77, while the Nifty50 gained 73.25 points to 22,739.55. The other broader market indices also maintained their momentum from yesterday.
Among sectoral indices, Nifty IT emerged as the top gaining, rising 1.20%. Most of the other sectoral indices, including heavyweights Nifty Bank and Nifty Financial Services, were also trading in the green.
Commenting on the positive momentum on Choice Broking research analyst Deven Mehata said, "This momentum can continue and hence buy on dips should be the strategy. Traders holding long positions should trail stop loss at 22500 on closing basis."
Meanwhile, Prashanth Tapse of Mehta Equities said, "In the current market landscape, the Nifty index stands at uncharted heights, propelled by several positive catalysts including robust Q4 corporate earnings expectations in India, strong US economic data, and easing oil prices."
Source: India Today