Nifty and Sensex reached new highs around noon on May 27, driven by strong performances in banking and IT stocks. HDFC Bank, ICICI Bank, and L&T were the major contributors to the gains in the Nifty 50 index.
Divi’s Lab was the top gainer on Nifty 50, trading 4 percent higher. The company’s impressive performance in the January-March quarter of FY24 led brokerages to raise their price targets, reflecting the strong earnings.
In the broader market, the BSE Midcap index gained 0.6 percent while the BSE Smallcap index increased by 0.1 percent.
Despite the gains, volatility remained high ahead of the general election outcome. The India VIX, a measure of market volatility, rose 5.3 percent to 22.9 around noon.
