Indian equity markets ended at new life highs on Tuesday amid a largely firm trend in other Asian bourses and steady foreign fund inflows. The Sensex closed at 62,681.84 with a gain of 177.04 points, which is its latest record level. The index rose 382.6 points to its all-time high of 62,887.40. The Nifty closed at 18,618.05, up 55.30 points or 0.30 per cent, its fresh record high.
top beneficiary
Hindustan Unilever (4.27%), Sun Pharma (1.46%), Nestle (1.32%), Dr Reddy’s (1.16%) and Tata Steel (1.14%) were the top Sensex gainers.
top losers
The biggest Sensex losers were IndusInd Bank (1.50%), Bajaj Finserv (1.27%), Maruti (0.98%), Power Grid (0.97%) and Larsen & Toubro (0.70%).
The market breadth was negative with 1716 stocks falling against 1763 stocks falling on the BSE. There was no change in 148 shares. Consumer durables shares rose 239 points to 41,216 along with its BSE index. The market cap of firms listed on BSE increased to a record Rs 286.15 lakh crore. The BSE Mid Cap and Small Cap indices fell 100 points and 85 points, respectively.
Rupak Dey, Senior Technical Analyst, LKP Securities said, “Indian markets are rejecting the global weakness and touching all-time highs. This is on the back of renewed interest from FIIs as the Indian decoupling story continues. Though , one must also realize that as we continue to see better growth rates than the world, our valuations are also at a premium to those prices. Even long term investors are disciplined at this point One should ideally avoid any extreme movements and stick to the basic asset allocation that one has defined for oneself.”
Read also: Neureka shares hit all-time low after promoter sells stake
Foreign institutional investors (FIIs) turned net buyers by buying shares worth Rs 935.8 crore on Monday, according to exchange data.
last session
Despite a weak sentiment in the global market, the Indian stock market on Monday closed at a new high for the fifth consecutive session. The Sensex climbed 211 points to close at 62,504, its fresh record high. During the day, it jumped 408 points to 62,701 – its all-time high. The Nifty closed at a record high of 18,562, up 50 points or 0.27 per cent. During the day, the 50-stock index rose 102 points to hit an all-time high of 18,614.
global market
In other Asian markets, Seoul, Shanghai and Hong Kong closed with gains, while Tokyo closed with losses. Equity exchanges in Europe were mostly trading lower in afternoon trade. Wall Street closed in negative territory on Monday. International oil benchmark Brent crude was trading 2.45 per cent higher at $85.23 per barrel.
