New Delhi, Feb 23 (IANS): Global bull run in equities led by the US market is showing no signs of exhaustion, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

In the US, the rally is being led by the tech stocks. Nvidia's excellent results have sparked a rally in all AI related tech stocks. This is having its repercussions in the tech stocks in India, too, he said.

"The steady climb of the Nifty setting records after records is an indication that the buy on dips strategy is working. This trend may continue. But very soon we are likely to have a days of sharp corrections when DIIs resort to some profit booking and FIIs continue to sell persuaded by the high US bond yields which are likely to remain high for sometime. Fed rate cut expectations are much lower than at the beginning of this year. That too will start exerting pressure on the market," he said.

Long-term investors should remain invested in this bull market. Partial profit booking from the overvalued mid and small caps and moving the money to high quality large cap banks and fixed income would be a safe strategy in the present context, he said.

Deepak Jasani, Head of Retail Research, HDFC Securities said US stocks surged on Thursday, with the Dow Jones Industrial Average and S&P 500 indexes setting another round of records and the Nasdaq finishing just shy of its first record close since 2021, after Nvidia Corp's blowout earnings unleashed a wave of optimism that drove global markets higher.

Shares of the chip maker rose more than 16 per cent. Nvidia's advance helped push the Nasdaq Composite to within striking distance of its first record close since November, 2021, he said.

Asian stocks extended gains on Friday, fueled by the global rally in equities that's seen share markets from the US to Europe and Japan hit all-time highs, he said.

BSE Sensex is trading at 73,258 points, up by 100 points. Wipro, Titan are up more than 1 per cent.