Indian benchmark indices ended higher for the sixth consecutive session, with the NSE Nifty 50 index hitting a new all-time high for the second day, tracking gains in HDFC Bank Ltd. and Axis Bank Ltd. stocks.
The NSE Nifty closed 74.70 points or 0.34% higher at 22,196.95, and the S&P BSE Sensex closed 349.24 points or 0.48% higher at 73,057.40.
Intraday, the NSE Nifty rose 0.42% to hit a new all-time high of 22,215.60. It took 46 sessions for the index to cross the 22,200 mark since December 14, 2023, when it crossed 21,000 for the first time.
The S&P BSE Sensex rose 0.58% to an intraday high of 73,130.69.
"Going forward, the index is on the verge of a breakout of the ascending triangle pattern. Any sustainable move above the 22,150-22,200 level will lead to a strong bullish rally of the index. In that case, the index is likely to test the level of 22,500. followed by 22,700 as per the measurement rule of Ascending Triangle pattern," SBI Securities said in a report.
