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The Sensex ended 0.3% higher at 62,504.80 points after testing a lifetime high of 62,701.40 points intraday. The Nifty 50 closed 0.3% higher at 18,562.75 points after hitting a record high of 18,614.25 points intraday.

Options data suggests a broader trading range between 18000 to 19000 zones, while an immediate trading range between 18300 to 18800 zones.The market breadth is skewed in favour of bulls. RSI is still holding the 70 levels, confirming the momentum. India VIX ended the session at 13.56 levels, suggesting that the market seems to be enjoying stability.

The Nifty Realty index closed 0.07 per cent up at 445.2.

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For enhanced GDP growth, the government needs to incentivise and encourage equity investment. In this regard, we have submitted our recommendations which covered challenges that should be addressed in the upcoming Union Budget

In the Sensex pack, Reliance, Nestle, Asian Paints, Bajaj Finserv, ICICI Bank, Axis Bank, IndusInd Bank and UltraTech Cement were the top gainers in today’s session, rising about 0.5-3.5%

A weaker rupee and strong physical demand following the marriage season supported limiting the fall of domestic gold prices," said Dilip Parmar, Research Analyst at HDFC Securities.In the international market, gold was trading lower at USD 1,750.46 per ounce while silver was down at USD 21.25 per ounce.

Oil prices fell over 3% on Monday as protests in China over strict COVID-19 curbs fuelled concerns over demand. Including this, crude prices have tumbled more than 8% in a four-session losing streak.India imports more than two-thirds of its oil requirements and a fall in global crude should help lower imported inflation and reduce the pressure on the Reserve Bank of India to raise rates.

“Inflation risk is now behind us. I do not think we are going to get major shocks on the crude oil front. I just do not see any major huge derailment risk for our current bull market. There will be, of course, corrections here and there, but every single dip from here on in India is an absolute and total screaming buy.”

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