Sensex, Nifty hit fresh record high after tepid start - Best Stock Market Tips

Benchmark stock indices hit fresh all-time highs, taking their winning streak into the sixth consecutive session. 

The indices opened on a tepid note, only to regain momentum as the session progressed. Analysts advised caution ahead of the expiry of January futures and options series. Even technical charts suggested exhaustion. 

The 50-scrip Nifty50 was trading up by 21.80 points, or 0.2 per cent, at 11,105.50. The 30-share BSE Sensex was trading higher by 88.51 points, or 0.24 per cent, at 36,228.49 at the time of writing this report.

"It appears as if the traders' fraternity has kept a lot of expectations from this upcoming Budget and hence, probably the anticipation is adding fuel to this 'No Negative is as good as positive' kind of scenario. We must accept that such 'Too Fast Too Furious' moves generally do not offer time to think even for those who are willing to ride the tide. 

Undoubtedly, the momentum is extremely strong and price-wise, there is no sign of weakness yet,"

United Spirit plunged 6 per cent. India's largest liquor firm reported a 9 per cent year-on-year decline in its net profit at Rs 135 crore for the quarter ended December, mainly due to higher marketing spends and exceptional items. The maker of McDowell's whiskey said underlying net sales declined 2 per cent in the third quarter.