Sensex Touches 80,000 for the First Time, Nifty Soars Past 24,300 as Bull Run Continues

However, some industry heavyweights witnessed a decline in their share price as the weightage of HDFC Bank in Nifty increased.On Wednesday, the banking firm’s shares scaled a new 52-week-high.”The focus of market activity today will be HDFC Bank which will continue its upward move factoring in the news of potentially increasing the weightage of the stock in the MSCI Index. The delivery based buying in the stock witnessed in the last many days has the potential to continue for a few more days pushing the stock further up and imparting resilience to it,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.As the weightage of HDFC Bank in Nifty increases there will be more delivery based buying by ETFs and also active funds. There can be a marginal negative impact on other high weightage stocks in the Nifty like RIL, TCS, Infosys and ICICI Bank, he further added.(This is a developing story)

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