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Sensex logs 3,500-point gain in 6 days, analysts urge caution on fresh buying

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Indian markets extended gains to the sixth day but ended off day's highs. The Sensex ended 284 points higher at 34,109, after hitting 34,488 at day's high.

The broader Nifty 50 index closed above the 10,000 mark for the first time when it ended up 0.83% at 10,061.5. This is the longest winning streak for Sensex and Nifty since October 2019.

After today's upmove, the Sensex is up about 3,500 points or 11% in just six sessions. Banking stocks outperformed today with Nifty bank index rising 2% to 20,940.

Some analysts have turned cautious after markets failed to hold intra-day highs. "Market has fallen with higher than normal volumes in the last one hour after some selling from institutional participants," said Deepak Jasani, head of research

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Gotabaya Rajapaksa - The economy is recovering, says President during meeting with professionals - newsfirst.lk
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The economy is recovering, says President during meeting with professionals
COLOMBO (News 1st); President Gotabaya Rajapaksa said that the nature or extent of the challenges will not matter in fulfilling the promises made to the people.He noted that development activities continue in the country while taking necessary steps to control the COVID-19 pandemic.The President also pointed out that the economy, which had been collapsed for nearly two years, is gradually recovering.The President made these remarks participating in the first round of discussions in a series of sessions with professionals representing various fields, held at the President’s House on Friday (11).The professionals who participated in the discussion said that they are further committed to make the national programme a success by giving the necessary strength to achieve the goals desired by the President, said a statement.The professionals vehemently rejected the allegations spread by some sections with the objective of achieving narrow political agendas, the statement added.Experts in the field said that the new approach to agriculture initiated by the President is being continuously supported by the researchers and entrepreneurs who are engaged full time in these fields, further noted the statement.Representatives from a wide range of fields, including education, policy, sociology, agriculture, research, water and renewable energy, medical, engineering and innovation, were present at the discussion with the President.Ministers, State Ministers, Members of Parliament, the Governor of the Central Bank, the Secretary to the President, the Principal Advisor to the President and many others were also present.
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