After a five-day decline, widespread buying in Indian markets on 26 July led to a strong recovery. In fact, in the last trading hour, the Nifty 50 reached an unprecedented high of 24,861. According to analysts, if the Nifty remains above 24,000, it is likely to rise further.

Today, Sensex and Nifty surged up to 1.7%, reaching 81,332 and 24,834, respectively. During the day, the Sensex was just 160 points away from a new all-time high.

Market breadth favoured advances, with 2,324 shares rising, 1,113 shares declining, and 75 shares unchanged.

VK Vijayakumar warned that valuations might limit the bull run, noting that mid-cap and smallcap stocks are overvalued. He advised investors to focus on high-quality large-cap stocks, which are fairly valued.

Today, the India VIX fell by 2.4% to 12.3. The broader markets outperformed benchmarks as the BSE Midcap and BSE Smallcap indices rose by up to 2%.

All sectors ended in green today. The Nifty Metal index was the best performer, rising by more than 3% thanks to the gains recorded by Coal India, JSW Steel, Tata Steel, Vedanta, and Hindalco. Nifty Auto, Nifty Pharma, and Nifty IT had also performed well, rising by more than 2% each.

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