Nifty Hits Fresh Record High Amid Union Budget Optimism | Markets News

While Sensex closed at 76,992 (up 181 points), Nifty ended the day at 23,465 (up 66 points) while hitting a new high during the trading. The Nifty remained within the defined range of 23,300-23,500. “On the higher end, a decisive move above 23,500 might lead to a sharp upside in the near term,” said market experts. (Also Read: EPF Withdrawal Update: EPFO Discontinues Covid-19 Advance Facility – Check Details)

A near-term consolidation seems probable as domestic investors await cues from the upcoming Union Budget. Meanwhile, the BSE midcap and smallcap gained 1 per cent each. The Bank Nifty continued its consolidation phase. According to market experts, the Bank Nifty index needs to decisively surpass the 50,200 mark to confirm an upside breakout towards the 51,000 level. (Also Read: Eid Bank Holiday June 2024: Will Banks Remain Closed For Bakrid? Check Details Here)