BENGALURU, March 7 (Reuters): India's blue-chips extended their rally to record highs for a second session in a row on Thursday, led by financials, while US Federal Reserve Chair's rate cut assurance supported sentiment.
The NSE Nifty 50, opens new tab and BSE Sensex, opens new tab gained 0.69 per cent and 0.51 per cent this week, respectively, posting the fourth straight weekly gain, the best such streak in three months. The benchmarks gained about 3 per cent each in four weeks.
"The momentum in domestic equities can persist till elections as history suggests," analysts at Ambit Capital said.
Banking is the only sector with relatively attractive valuations compared with the Nifty 50, they said.
Financials-linked indexes such as financial services, opens new tab, banks, opens new tab, public-sector banks, opens new tab and private banks, opens new tab gained between 0.6 per cent and 4 per cent this week.
Financials lead India's Nifty, Sensex to record highs
FE Team | Published: March 07, 2024 23:55:02
Financials lead India's Nifty, Sensex to record highs
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