Nifty & Sensex Close At A New Record High

Nifty & Sensex Close At A New Record High

Nifty and Sensex ended at a new record high level and ended higher for third consecutive session led by banking stocks.

At close, the Sensex was up 546.41 points or 1.02 per cent at 54,369.77 and the Nifty was up 128 points or 0.79 per cent at 16,258.80.

About 1073 shares have advanced, 2104 shares declined and 113 shares remain unchanged.

On the Nifty 50 index, HDFC Ltd. (4.75 per cent), Kotak Mahindra (3.81 per cent), ICICI Bank (3.51 per cent), SBI (2.34 per cent) and HDFC Bank (2.13 per cent) were the top gainers for the day while, Grasim (-2.36 per cent), Titan Company (-2.21 per cent), Tata Motors (-1.83 per cent), Adani Ports (-1.47 per cent) and Hindalco (-1.36 per cent) were the losers for the day.

On the sectoral front, except Banking and Financial indices all the other sectoral indices ended in red.

The BSE Midcap and Smallcap indices lost 1.05 per cent and 1.06 per cent each.

Author’s View: Nifty took a breather near 16300 level. If we can get past 16300, the next target for the Nifty should be 16600. The new support for the market is at 15700 and hence any dip or intraday correction can be used to accumulate long positions for higher targets.

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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