Nifty & Sensex End At A New Record High

Nifty & Sensex End At A New Record High

The benchmark indices ended at a new record high, backed by strong global cues and aggressive buying in IT and PSU Bank stocks.

At close, the Sensex was up 318.05 points or 0.58 per cent at 54,843.98, while the Nifty was up 82.15 points or 0.50 per cent at 16,364.40.

About 214 shares advanced, 816 shares declined and 113 shares remain unchanged.

On the Nifty 50 index, Power Grid Corp (6.04 per cent), Tech Mahindra (4.76 per cent), Tata Motors (3.57 per cent), HCL Tech (2.77 per cent) and Larsen (2.54 per cent) were the top gainers for the day, while Eicher Motors (-3.74 per cent), Grasim (-0.61 per cent), ONGC (-0.64 per cent), Dr. Reddy’s Labs (-0.60 per cent) and IndusInd Bank (-0.56 per cent) were the top losers for the day.

On the sectoral front, except Nifty Pharma (-1.11 per cent) all the other sectoral indices ended in green.

The BSE Midcap and Smallcap indices gained 1.07 per cent and 1.97 per cent respectively.

Author’s View: If Nifty sustains above the level of 16350, it is expected to gain momentum, leading to an upside projection till 16450-16500 level. The momentum indicators like RSI and MACD indicating a positive outlook to continue.

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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