Nifty hits new high, Sensex up over 300 points

The Indian equity indices resumed their bull run on Friday with the Nifty50 on the National Stock Exchange (NSE) touching a fresh record high of 14,259.15 points.

Around 10 a.m., it was trading at 14,243.80, higher by 106.45 points or 0.75 per cent from its previous close of 14,137.35 points.

The BSE Sensex was trading at 48,421.16, higher by 327.84 points or 0.68 per cent from its previous close of 48,093.32.

It has opened at 48,464.91 and touched an intra-day high of 48,503.71 and a low of 48,365.58 points.

The across-the-board buying was led by the healthcare, auto and oil and gas stocks.

Manish Hathiramani, technical analyst with Deen Dayal Investments said: “14,250 has definitely proved to be a stiff resistance point as we have visited around that price point twice. If we can get past that, we should see the markets at 14,350-14,400.”

“A buy on dips strategy would be the best way to approach the Nifty. However, caution is suggested and it is imperative stops are placed by traders at regular intervals,” he added.