MUMBAI: With the market indices hitting record-highs in the Monday morning trade, market experts noted that although it is a positive sign, investors need to be cautious before investing.
“2018 has started off well for investors, amid fresh highs of the Sensex and Nifty, largely due to the performance of Reliance Group’ shared and that of ONGC. However, amidst this, I would like to caution investors to think before investing. It would be better to take advice from someone before investing,” market expert Sunil Shah told ANI.
Earlier in the day, Sensex hit an all-time high of 35,612.11 points, while the Nifty was at 10,906.85 points in the morning trade.
To this, Akash Jindal, another market expert said the numbers come in the backdrop of declining impact of demonetisation, Goods and Services Tax (GST) and expectations ahead of this year’s Union Budget.
“Market indices have shown a positive growth ahead of the Budget, largely due to the expectations. The performance of American markets, and the decline in short-term negativity caused due to demonetisation and the GST have also reflected in the performance of the market. We expect trade to be positive in the coming week,” he said.
Gains were led by Reliance Industries and HDFC Bank, as well as the Oil and Natural Gas Corporation (ONGC), as they saw a significant rise post the Rs. 37,000 crore-deal with Hindustan Petroleum Corporation Limited (HPCL).