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Sensex and Nifty reach new highs, but caution advised for potential correction. Analysts predict hurdles at 23,000 levels with possible market correction before elections. Foreign investors show interest in Indian shares.
MUMBAI: In a year when key equity benchmarks scaled new highs and rallied nearly 20% making investors richer by about Rs 85 lakh crore, 55 of the 59 i.
The decline comes amid a surge in oil prices.
The 30-share BSE Sensex closed 454.10 points or 0.78 per cent up at 58,795.09. Likewise, the 50-share NSE Nifty index settled 121.20 points or 0.70 per cent up at 17,536.25.
Oil & Gas, Metal, Infra and auto indices ended in red, while Pharma, IT, PSU bank and realty gained. BSE Small Cap and Mid Cap ended flat.