Indian equity market ended at record high on Friday led by buying in index majors Reliance Industries, Wipro and Maruti, rising for the fourth straight session. The Sensex climbed 20.96 points to close at 62,293.64, its fresh record high. During the day, it jumped 175.05 points, or 0.28 per cent, to 62,447.73 – its all-time high.
The Nifty ended 28.65 points, or 0.15 per cent, higher at 18,512.75, an all-time high.
Reliance Industries emerged as the biggest gainer among Sensex firms, rising 1.34 per cent, followed by Wipro (1.16%), Tech Mahindra (1.01%), Axis Bank (0.98%), IndusInd Bank (0.86%), Maruti ( 0.79%). ), Tata Steel (0.71%) and Mahindra & Mahindra (0.71%) were among the top Sensex gainers.
Nestle (up 1.30%), Kotak Mahindra Bank (0.95%), ICICI Bank (0.87%), Titan (0.58%), and HDFC Bank (0.54%) were the top Sensex losers.
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Rupak Dey, Senior Technical Analyst, LKP Securities said, “The indices posted a muted close after a sideways trading session. On the daily chart, Nifty has moved up to a rising trend line, connecting with the earlier peaks. The Momentum indicator has moved up. Daily Downtrend on time frame. Based on the price chart and momentum indicator setup we can speculate that the index is on the verge of strong directional movement in the near term. On the lower end, a break below 18,450 could trigger a downside correction. 18,100-18,000; whereas, on the higher end, a rise above 18,605 could prompt a decent rally in the market.”
The market breadth was positive with 2119 stocks falling against 1386 stocks falling on BSE. There was no change in 127 shares. Auto and IT stocks were the top gainers in their BSE indices with gains of 258 points and 125 points, respectively.
Foreign institutional investors (FIIs) turned net buyers after buying shares worth Rs 1,231.98 crore on Thursday, according to exchange data.
In other Asian markets, Seoul, Tokyo and Hong Kong closed with losses, while Shanghai closed in the green. Equity exchanges in Europe were mostly trading lower in afternoon trade. Wall Street was closed on Thursday for a holiday. International oil benchmark Brent crude was trading 1.21 per cent higher at $86.37 per barrel.
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