Indian benchmark indices Sensex, Nifty at all-time highs - GulfToday

Indian benchmark indices Sensex, Nifty at all-time highs

Indian benchmark indices Sensex, Nifty at all-time highs

Brokers react while trading at a stock brokerage firm in Mumbai, India. Reuters

Benchmark indices Sensex and Nifty hit their fresh all-time highs on Wednesday.The S&P BSE Sensex rose 206 points to 41,558 while the Nifty50rallied by about 56 points to close at 12,221. Both Sensex, and Nifty hit a fresh record closing high.

Among the sectors, Nifty PSU Bank index finished as the top loser, falling 1.89 per cent. Nifty Media closed with a loss of 0.41 per cent; rest all settled in the green. Nifty Pharma, with a gain of 1.20 per cent, ended as the top gainer among the sectoral indices.

Broad-based buying across sectors lifted benchmark indices to fresh lifetime highs on Wednesday. Gains were supported by HDFC twins, ITC, Reliance Industries, Asian Paints, and Mahindra & Mahindra (M&M). However, profit-booking at State Bank of India (SBI), ICICI Bank, and Infosys trimmed gains marginally.

A string day for Dalal Street as bulls pushed benchmark indices to fresh record highs for the second day in a row. The S&P BSE Sensex rallied over 200 points to hit a fresh record high of 41,614, while the Nifty50 rose more than 50 points to hit a life high of 12,237.

Let’s look at the final tally on D-Street - the S&P BSE Sensex rose 206 points to 41,558 while the Nifty50 rallied by about 56 points to close at 12,221. Both Sensex, and Nifty hit fresh record closing highs.

Sectorally, action was seen in metals, healthcare, realty and consumer discretionary while profit-taking was seen in the public sector, telecom and oil & gas index.

The broader market underperformed as the S&P BSE Mid-cap index was down 0.19 per cent while the Small-cap index fell 0.05 per cent.

Not just Sensex, and Nifty50 but about 60 stocks on the BSE also rose to their fresh 52-week highs that include names like Bajaj Finserv, Dixon Technologies, HDFC, HDFC Bank, JK Cement, Mahanagar Gas, and Navin Fluorine, etc. among others.

Positive global cues, expectations of further reforms from the government lifted sentiment. Metals and IT stocks got a booster on ease in trade tension as well as signs of recovery in global growth. The market would react to the outcome of the GST council meeting on Thursday.

The benchmark S&P BSE Sensex hit a record high of 41,614.77 in the intra-day trade today, but closed at 41,558.57 level, up 206.4 points or 0.50 per cent. M&M, Sun Pharma, Asian Paints, and ITC were the top gainers among the Sensex pack. Meanwhile, Tata Motors, HUL, YES Bank, and SBI settled as top laggards.

On the NSE, the broader Nifty50 − for the first time − closed above the 12,200-mark. The index ended at 12,224.60-mark, up 59.6 points or 0.49 per cent. The index scaled record peak of 12,237.70.

In the broader market, the mid-caps and small-caps ended the day in the negative territory. The S&P BSE mid-cap index closed 0.19 per cent lower at 14,789.29 level. The S&P BSE small-cap index, on the other hand, closed 0.05 per cent lower at 13,387.13 mark.

Sensex and Nifty on Wednesday traded near record levels during the early trade, over favourable global cues and sustained inflow of foreign funds.

PC Jewellers fell over 7 per cent on the BSE after market regulator SEBI ordered impounding of alleged unlawful gains of more than Rs 8 crore made by two promoters and related entities of the company in an insider trading case.

At 10.14 am the Sensex was up 63.12 points at 41,415.29. It opened at 41,442.75 from its previous close of 41,352.17. The Nifty was trading at 12,174.75, higher by 9.75 points. Despite the rising inflation and weak growth, the markets have been marching forward owing to the strong inflow of FII and favourable interest rate by global central banks.

On Tuesday, Foreign Portfolio Investors pumped in Rs 1,248.47 crore worth of scrips while it’s domestic counterpart sold stocks worth Rs 908.16 crore.

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note. The BSE Sensex opened at 41,442.75 points and touched a high of 41,480.91 and a low of 41,374.94 points.

On Tuesday, the Sensex closed at 41,352.17 points. The Sensex is trading at 41,393.88 points up by 41.711 points or 0.10 per cent.

On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 12,197.00 points after closing at 12,165.00 points.

The Nifty was trading at 12,175.90 points in the morning.

Both key equity indices Sensex and Nifty logged fresh highs on Tuesday. While the benchmark Sensex advanced 413 points to close at 41,352, the broader Nifty added 111 points to end at 12,165. Sensex logged record closing high for the second straight day.

Indo-Asian News Service

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