Stock market close: Indian benchmarks kicked off the trading week with record-high gains on the back of automobile, realty, and metal stocks, along with the heavyweight Reliance industries.
The blue-chip NSE Nifty 50 rose 0.68 per cent to close at a record high of 22,666.30, and the thirty-share BSE Sensex ended 0.67 per cent higher at a record 74,742.50 on Monday, April 8, 2024.
The benchmarks hit record highs during early trade, and the market capitalisation of Bombay Stock Exchange (BSE) listed stocks today crossed a significant milestone of Rs 400 lakh crore. During the intraday trade today, NSE Nifty 50 today rose 0.81 per cent to a record high of 22,697.30 and BSE Sensex rose 0.83 per cent to an all-time high of 74,869.30.
“Even though the Nifty Index breached its all-time high-level today and the view is bullish, one must exercise caution on the way up. The level that traders should now watch out for is 22,300. If we see a close below 22300, the entire long bias would cease for the short term,” said Rahul Ghose, CEO, Hedge International Trading.
“For traders trailing their long positions, another important point to keep in mind is the current weekly candle. If this closes with a bullish bias, they should go into the weekend with long positions, but if they see a doji or a tinge of red on the weekly candle, they should look to book profits,” Ghose added.
