India’s Sensex hits 80,000 for the first time

Indian shares started Wednesday at fresh all-time highs. Benchmark indices marked the second consecutive day of record highs. However, volatility is expected to play a role in Wednesday's trading session.

Investors will keep an eye on Indian shares to see if they can rally further to new milestones even as volatility on profit booking returns. The blue-chip Sensex index rose above 80,000 points for the first time ever. The index hit a life high of 80,039.

The broader Nifty index also hit a new all-time high of 24,292. On Tuesday, both benchmarks closed in the red after hitting a fresh high after new records and milestones in June.

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Last week, benchmark indices surpassed key levels in three consecutive sessions, hitting multiple new records. Both benchmarks have already breached year-end targets pushing analysts to reassess their predictions.

The nifty index is now eyeing the 25,000 mark after the Sensex breached the 80,000 level. Most market watchers believe the rally in Indian stocks will continue. How high is the real question?

Now, let's put the current bull run into context: The Sensex index has surged over 7,000 points following a dramatic drop on election results day. The index took just two trading sessions to go from 78,000 to 79,000. In 16 out of 17 sessions since June 7, the nifty has hit some kind of a record.