Sensex crosses 66,000 again

The BSE Sensex increased by 559 points to reach 66,000 during Tuesday’s trading.

Sensex is now trading at 66,072 points due to widespread heavyweight stock buying.

With a rise of more than 2%, Bharti Airtel leads all gainers, followed by Kotak Mahindra Bank and Tata Motors.

The stock prices of ICICI Bank, Axis Bank, Maruti, SBI, Bajaj Finserv, Infosys, M&M, and JSW Steel have all increased by more than 1%.

In the meanwhile, the Israel-Hamas conflict’s uncertainty persists, according to V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

If Israel launches ground operations in Gaza, things might become worse. Since Hamas would haggle with the abducted Israeli prisoners, a possible softening of hostilities cannot be completely ruled out. Political events cannot be foreseen, in contrast to monetary and economic trends. “Markets will be affected by this uncertainty,” he said.

There have been some encouraging economic advances. Positive news for the stock markets include the drop in the dollar index to 105.95 and the US 10-year bond yield from its most recent high of 4.88 to 4.65.

FIIs are still selling in India, although the volume of sales is decreasing. The more significant. Purchases by DIIs are rising.

For long-term investors, calibrated purchasing in modest amounts of quality stocks in the banking, auto, IT, capital goods, and real estate/construction industries would be a solid approach, he noted.