Indian markets close higher for the fifth consecutive day

India’s benchmark indices – NIFTY50 (+0.3%) and SENSEX (+0.3%) – closed higher today, extending gains for the fifth consecutive day. Earlier in the day, the NIFTY50 index had hit a fresh all-time high of 22,186. Out of the NIFTY50 space, 27 stocks closed in the green. Gains in ICICI Bank, Reliance Industries, Bharti Airtel and ITC supported the index.

The broader markets also closed in the green. The NIFTY Smallcap 100 Index was up 0.4% today. The NIFTY Midcap 100 Index also closed 0.3% higher.

At the same time, the volatility also increased. India VIX, which is a measure of volatility in the domestic markets, rose 5.2% today.

On the sectoral front, Pharma (+0.8%) and FMCG (+0.7%) were the top gainers. On the other hand, Realty (-0.6%) and PSU Bank (-0.4%) were the top losers.

Experts state that investors must monitor the global developments going forward. They believe that the Indian markets could take cue from global markets in absence of any major domestic events.