Strong Global Cues Lead Indian Indices To New Highs; HCL Tech Top Gainer

Strong global cues led the benchmark indices to scale a fresh high in intra-day trade today with Nifty clocking levels of 15952. Also, new high was registered on the Nifty Midcap 100 as well as Nifty small cap 100, indicating positive momentum all through. At the close, indices logged fresh closing high, with Nifty ending at 15924, while Sensex settled with gains of over 250 points at 53,159.

The global cues remain strong after the US Fed chairman Jerome said that the monetary policy shall extend powerful support to the US economy.

Top Nifty gainers in today's trade have been HCL Tech, Larsen and Toubro, Wipro, Tech Mahindra and Hindalco, while losers included ONGC, Eicher Motors, Coal India, Bharti Airtel and M&M.

Among sectoral gainers, realty pack topped, followed by the IT sector.

The top contributors to gains on the Nifty index included stocks like HDFC Bank, Larsen, HCL Tech, HDFC and ITC among others.

Oil prices have seen a drop after the OPEC+ and the UAE have agreed on a compromise in respect of oil output. Crude Oil WTI was last trading at $72.47.

Meanwhile, European markets traded mixed even as analysts there suggest that policy tightening is unlikely to happen any time soon.