For the second straight day, Indian benchmark indices saw a rise in early trade on Wednesday, reflecting encouraging Asian indications. Reliance Industries and major banking institutions led the gains.
Top sectoral gainers were Nifty PSU Banks and Nifty Realty, both increasing more than 2%, and Nifty Media, which increased more than 1%. IT index traded with cuts in the interim.
Analyst viewpoint: “The current bull market’s resilience to downturns is one of its key characteristics. The buy on dips technique is successful as a result. Even if the Bank Nifty is still falling, the current recovery is driven by IT and backed by the auto and pharmaceutical industries.
“Excessive speculation in low-grade equities, many of which are tripling in a matter of days, is a cause for alarm. Caution is warranted given these excesses of a bull market. It is best for investors to stick with well-regarded stocks.