FIRST TRADE (September 27): Sensex hit record high for seventh day, Nifty at 26,223; IT stocks rally

Indian equities tracking record gains hit new highs for the seventh straight day. Sensex at the open was up 0.1 per cent at 85,844.84, while it marked a new high of 85,955.5, while the bluechip Nifty index is a tad away and at day's high was at 26,250.55.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, "An important trend emerging in the market is the clear outperformance of largecaps over mid and small caps.  The outperformance has been pronounced during the last five trading days which saw Nifty appreciate by 2.85% against a mere 0.6% up move in the small cap index."

This is a healthy trend which can impart resilience to the market and, given the gush of domestic liquidity, take it higher. It appears that smart money is moving from mid and small caps to largecaps, he added.

IT stocks are in focus in today's session after Accenture increased revenue growth guidance for FY25, while posting in-line Q4 results.

Meanwhile, Asian markets traded mixed, while the Hang-Seng traded strong with gains of over 3 per cent as China stimulus continues to lift sentiments. Also, MSCI Asia Pacific ex Japan traded higher by over 2 per cent.