The sensex has breached the 35,000 mark for the first time in its history. The 50-share Nifty also showed its bullish trend and reached 10,820 on Wednesday. The 30 share bse Sensex breached the 35500 level, a gain of 810.77 points and ended at 35,482 while the nse Nifty gained 88 points, a rise of 0.82% to end at 10,788.50.

The investor sentiments were positive post the Modi government’s announcement of a cut in additional market borrowing in the current fiscal year. Investor’s confidence soared after the center brought down additional borrowings to Rs 20,000 crores from the earlier figure of Rs 50,000 crores.

Market outlook positive

The decision of reduction in requirements of additional market borrowing in the present fiscal year has struck a positive note among the investors. The emergence of a robust fiscal picture and hope of an early resolution of the NPA accounts lifted market sentiment.

The market scene is overly optimistic as the DII funds continue to flow in. However, most experts are advocating caution and entering a fresh position at this stage is not recommended.

Banking and IT sector biggest gainers

The biggest gainers were the Banking segment, closely followed by the capital goods and FMCG.

Biggest gainers were Axis Bank which saw its worth increase by 4.7 % followed by SBI which gained by 3.4%. ICICI Bank fortunes also increased by 2.8%. The sector is in an optimistic mood amid expectations of higher spending by the government in the next budget.

The IT stocks also surged, and the rise was augmented by a weak rupee and Morgan Stanley’s appended but positive forecast for Indian IT sector.

The IT sector is going to see a big turnaround in 2018.

Market continues its rally on Thursday

The BSE Sensex extended its record-breaking run for the second day, and it scaled a new high of 35,489 as banking stocks led the rally on sustained foreign capital movements. Also, the NSE Nifty zoomed to a new high of 10,887.

At 12:10 on Thursday the BSE was at 35491 and Nifty was at 10880, plus 0.84 percent.

The positive sentiments were not seen across the global markets and after a brief rise till Wednesday were not able to sustain the rise and fell courtesy on lower commodity prices and downbeat earning updates from companies. The Asian stocks also fell steeply after major gains due to falling oil and commodity prices. The oil prices hovered around $70, and the fall in prices has been caused by reports of a rise in shale oil production by the US.

With people also trading on the Cryptocurrency in India, there is still lack of clarity to the general public on how the trading needs to be done on it.

The Indian govt has yet to formulate the laws for it. While many countries have banned the currency, it has been made legal in some countries.

Several brokerages anticipate the Sensex and Nifty to give excellent profits in 2018. Expecting an incomes increase of 21.5 percent the subsequent fiscal year, HDFC Securities has set its Nifty target at 11,900 for the year 2019.

Global markets also bullish

Asian stocks hit life highs on Thursday, with a rally by Wall Street maintaining bullish investor sentiment, while the dollar drew back from three-year lows as remarks by the European Central Bank officials strengthened the euro's current rally.

The US stocks bounced overnight, and the Dow ended beyond 26,000 for the first time as investors' expectations for greater earnings boosted capitals across sectors.

India is the amongst the top-performing markets in the last 20 years among the $1-trillion exchanges, surpassing some of the big countries such as the US, UK, and Hong Kong.