The Indian stock market is technically overbought and unlikely to raise much in the near term; The S&P BSE Sensex opened on a positive note and hit a fresh all-time high led by gains in technology, capital goods and auto sectors even as the Asian markets remain mixed. According to analysts, the market may consolidate in the near term after the sharp run-up.
Today the 30-share index was at 29,668.68, down 13.09 points or 0.04 per cent. It touched an all-time high of 29,844.16 and a low of 29,650.33 in early trade. The Nifty was at 8,946.05, down 6.30 points or 0.07 per cent. It touched an all-time high of 8,996.60 and a low of 8,942.15 in early trade. The S&P BSE Midcap Index was up 0.45 per cent and the S&P BSE Smallcap Index gained 0.28 per cent.
Among the sectoral indices, the S&P BSE IT Index was up 1.40 per cent, the S&P BSE Capital goods Index gained 0.52 per cent and the S&P BSE Auto Index was 0.21 per cent higher. In commodities, Nymex Crude held steady around USD 44 dollars per barrel as US jobless data signaled further strength in economy. Brent crude was trading around USD 49.