Sensex and Nifty again traded at a new lifetime high led by gains in Banks, Pharma and FMCG stocks

Nifty was up 97.30 points or 0.73 per cent at 13,355.80 while Sensex was up 347.42 points or 0.77 per cent at 45,426.97.

About 1972 shares have advanced, 936 shares declined and 190 shares remain unchanged.

On the sectoral front, Nifty Pharma (1.64 per cent), Nifty Infra (1.08 per cent) and Nifty FMCG (1.58 per cent) outperformed, whereas Nifty Metal (0.00 per cent) and Nifty Realty (-0.34 per cent) witnessed selling pressure and closed in red. All other sectors ended with minor gains.

The BSE Midcap and Smallcap indices gained 1 per cent each.

On Nifty index UPL (4.44 per cent), Adani Ports (3.92 per cent), HUL (3.29 per cent) and Bharti Airtel  (3.08 per cent) were the top gainers for the day, while Nestle (-1.49 per cent), JSW Steel (-1.46 per cent), Kotak Mahindra (-1.39 per cent) and Tata Steel (-1.31 per cent) were top losers for the day.

Author’s View: If the current level is sustained on Nifty we can see further upside towards 13,500 level. Every dip can be utilized as a buying opportunity, till Nifty trades over 13,200.