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After the benchmark Nifty hit 21,000 mark just last week, the Sensex hit its 70,000 milestone in intraday deals today. The benchmark surged 232 points in intra-day deals to its new peak of 70,057.83. This is the 5th session in December when the Sensex has hit its peak.
RBI also raised its GDP growth forecast for FY24 to 7.0 percent from 6.5 percent, which ushered further optimism among investors.
Nifty managed to surpass yet another milestone of 21,000 today. It is up 1 percent in CY23 year to date.
Most of Zerodha's AUM was added post-2020, which is one of the biggest bull markets India has seen. While equity funds saw a slowdown in the pace of inflows, investments through the systematic investment plan route hit record high in November.
The experts further advised to continue with the buy-on-dips strategy till the index holds 19,600-19,500 on the downside