Market Live: Nifty extends rally, Sensex up 200 pts post JD(U)-BJP alliance in Bihar

Equity benchmarks extended rally in morning, with the Sensex up 222.91 points at 32,605.37 and the Nifty up 71.50 points at 10,092.15.
The Indian market continued its bullish momentum, backed by steady earnings and strong political stability cues from the developments in Bihar on Wednesday. In the opening tick, indices surged to fresh highs.
Having said that, there are experts who still continue to be wary of the rally as it is not commensurate with the fundamentals. UBS Securities believes that from a fundamental perspective, the risk reward is unattractive.
“Political stability will help the market in the short term