Stock Market Highlights: Sensex jumps 689 points, ends at fresh closing peak of 48,782; Nifty at 14,347

The indices ended at record highs, IT and Auto stocks led the market.

At close, the Sensex was up 689 points or 1.43 per cent at 48,782.51 and Nifty was up 210 points or 1.48 per cent at 14,347.25

On Nifty 50 index, Maruti Suzuki (5.93 per cent), Wipro (5.77 per cent), Tech Mahindra (5.66 per cent) and UPL (4.38 per cent) were the top gainers for the day, while Hindalco (-1.72 per cent), Tata Steel (-1.34 per cent), IndusInd Bank (-1.29 per cent) and Bharti Airtel (-0.92 per cent) were the top losers for the day.

On the sectoral front, IT and Auto were the top-performing sectors and settled 3.61 per cent and 3.30 per cent strong respectively. Other than Nifty Metal all other indices ended in green.

The BSE Midcap and Smallcap indices closed 1.01 per cent and 0.72 per cent higher. Both the indices formed a fresh high today.

Author’s View:  The support level has moved up for Nifty. The fresh support can be placed at 13,200 – 13,250 level. The index looks in uptrend and it’s a buy on dips market till Nifty trades above its support level. 

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