Sensex rises; Vedanta hits near three-year high
ha Kareen Nair
The NSE Nifty edged up on Wednesday, hovering near the 10,000-point mark it breached for the first time in the previous session, with stocks such as Vedanta Ltd
Expectations of a better earnings season with improving economic indicators have increased investor confidence, extending a record-setting rally this year, although high valuations are seen capping gains in the near term.
The Nifty has hit a string of record highs this year and is Asia`s third best-performing index this year with a 22 percent gain.
"The market is on a secular uptrend. Among other factors, corporate results so far have been fairly decent with upbeat performances," said Nitasha Shankar, senior vice president and head of research at Yes Securities (I) Ltd.
"Overall, things are improving and we expect the market to continue on this journey upward, though there will be some days of profit booking which would only be prudent."
The NSE index was up 0.29 percent at 9,993.6 as of 0609 GMT.
The benchmark Sensex was 0.26 pct higher at 32,311.1 after hitting a fresh high on Tuesday.
Among gainers, shares of Vedanta Ltd
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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