Sensex, Nifty Surge For Tenth Session In A Row; Close At Record Highs
The S&P BSE Sensex and NSE Nifty 50 indexes rose for tenth session in a row to shut at document highs on Tuesday led by positive aspects in banking and knowledge expertise shares. The benchmarks staged a spot down opening mirroring losses in different Asian markets nonetheless, sustained shopping for in banking and knowledge expertise shares helped benchmarks get well from intraday lows. The Sensex rose as a lot as 583 factors from the day’s lowest degree and Nifty 50 index touched document excessive of 14,215.60.
The Sensex superior 261 factors to shut at document excessive of 48,437.78 and Nifty 50 index climbed 67 factors to shut at an all-time excessive of 14,200.
Sustained shopping for by overseas institutional traders led to benchmarks extending record-breaking streak to seventh session in a row. The FIIs on Monday purchased shares value Rs 1,843 crore after they invested document Rs 1.70 lakh crore in calendar 12 months 2020.
Eight of 11 sector gauges compiled by the National Stock Exchange ended larger led by the Nifty IT index’s 2.6 per cent achieve. Nifty Private Bank, Bank and Financial Services indexes additionally rose over 1 per cent every.
On the opposite hand, auto, steel and realty shares witnessed some promoting stress.
Mid- and small-cap shares additionally witnessed shopping for curiosity as Nifty Midcap 100 index rose 0.7 per cent and Nifty Smallcap 100 index superior 0.6 per cent.
Axis Bank was high Nifty gainer, the inventory rose 6.3 per cent to shut at Rs 664. HDFC, IndusInd Bank, HDFC Life, Wipro, Tata Consultancy Services, Asian Paints, HCL Technologies, Nestle India and Hindustan Unilever additionally rose between 1-3 per cent.
On the flipside, ONGC, JSW Steel, Hindalco, Tata Steel, Bajaj Finance, Coal India, NTPC, Mahindra & Mahindra, Reliance Industries and BPCL had been among the many losers.
The total market breadth was optimistic as 1,781 shares ended larger whereas 1,288 closed decrease on the BSE.
