By Malvika Gurung
Investing.com -- The domestic market made a strong start on Friday, following positive cues across global markets and broad-based buying in equities.
Indian equity benchmark indices opened up to 0.7% higher, while the 30-scrip index Sensex surpassed the key psychological 60,000 mark for the first time in three weeks in early trade, touching 60,119.8.
At the time of writing, indices Nifty50 surged 0.51% and Sensex gained 0.45% or 271.2 points, aided by buying across industry heavyweights like SBI (NS: SBI ) and Hindustan Unilever (NS: HLL ), among others.
Nifty Bank surged 1% and is inching towards witnessing record highs. The index soared to a new high of 40,265.75 in the previous session, posting its highest level in over 10 months.
V K Vijayakumar of Geojit Financial Services states that the market momentum is strong in India, enough for the benchmark indices to be moving towards their record highs.
He suggests investors remain invested in the strong market despite valuations getting expensive. “Domestic economy-facing stocks continue to be the favourites”.
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