Market Wrap: Nifty scales 20K mount, Sensex regains 67K level

Stocks extend rally to 7th day

The Indian stock markets extended their winning streak to the seventh straight session on Monday, with the benchmark Sensex jumping 528 points to regain the 67,000 level while the Nifty scaled the record 20,000 mark for the first time.

– Sensex closed at 67,127.08, up 528.17 points or 0.79%

– Nifty closed at 19,996.35, up 176.40 points or 0.89%

– All 30 Sensex stocks closed in the green

– Top gainers: Reliance Industries (4.3%), HDFC Bank (3.4%), Infosys (3.2%)

– Top losers: NTPC (0.4%), ITC (0.3%), Hindustan Unilever (0.2%)

– Strong buying by domestic investors – Positive global cues – Successful G20 summit – Robust performance by major companies

– The Sensex is now trading above its 200-day moving average, which is a bullish sign.

– The Nifty is also trading above its 200-day moving average. – The outlook for the markets remains positive in the near term.

– Investors can continue to buy quality stocks on dips. – They can also look at investing in sectors such as IT, pharma, and infrastructure.

The markets are in a sweet spot and are likely to continue to rise in the near term," said Ajit Mishra, VP - Research, Religare Broking.

– "However, investors should keep an eye on global cues and avoid taking aggressive bets," he added.

– The markets are expected to remain positive in the coming week, with the Sensex and Nifty likely to trade in the range of 67,000-68,000 and 19,800-20,200, respectively.

– However, investors should keep an eye on global cues and avoid taking aggressive bets.

– The main risk to the market outlook is a sharp rise in crude oil prices. – Another risk is a slowdown in global economic growth.

– The Indian stock markets are in a strong position and are likely to continue to rise in the near term. – However, investors should keep an eye on global cues and avoid taking aggressive bets.