Indian Market Hits 10-Week Peak: Can Rally Extend or Expect a Steep Correction Ahead?

Indian Equity Markets Reach 10-Week High

The Indian equity markets, represented by the BSE Sensex and the Nifty 50, closed on July 6 at a 10-week high, driven primarily by the heavyweight HDFC Bank's strong quarterly business update.

The Nifty 50 index rose by 159.50 points, or 0.7%, to close at 24,430.35 points. The index had gained a shade more than 180 points intraday, and saw a gap-up opening, remaining steady throughout the session. This marks the fourth consecutive session of gains for the index.

The BSE Sensex also closed at a 10-week high, reaching 78,285.07 points, up 521.16 points or 0.7% from the previous day.