Benchmark stock market indices hit fresh highs on Tuesday despite the rise in geopolitical tension in the Middle East. However, the markets are witnessing high volatility.
The S&P BSE Sensex was up 80.74 points to 85,009.35, while the NSE Nifty50 added 29.15 points to 25,968.20 as of 10:05 AM.
“The bulls continued their gravity-defying move at the start of the expiry week and led the benchmark index to new highs. Decoupled with the mixed global cues over the weekend, the sentiments for domestic markets kept soaring with participation from the broader markets,” said Sameet Chavan, Head Research, Technical and Derivative – Angel One.
“In light of the monthly expiry and overbought parameters, it is advisable to proactively secure profits at regular intervals instead of adopting a complacent approach. Additionally, the broader market exhibits significant sectoral movements that are poised to outperform.
Therefore, it is imperative to maintain a stock-specific focus and vigilantly monitor global market developments,” he added.