The Benchmark Indices Hit A Fresh Record High

The Benchmark Indices Hit A Fresh Record High

Nifty and Sensex rallied more than a per cent hitting fresh record levels led by the IT, Metal and FMCG stocks.

At close, the Sensex was up 593.31 points or 1.08 per cent at 55,437.29, and the Nifty was up 164.70 points or 1.01 per cent at 16,529.10.

About 1412 shares have advanced, 1583 shares declined, and 81 shares are unchanged.

On the Nifty 50 index, Tata Consumer Products (4.29 per cent), TCS (3.33 per cent), Larsen (2.77 per cent), Bharti Airtel (2.23 per cent) and HCL Tech (2.09 per cent) were the top gainers for the day, while Eicher Motors (-2.67 per cent), Dr. Reddy’s Labs (-1.36 per cent), Cipla (-1.20 per cent), Power Grid Corp (-1.20 per cent) and Britannia (-1.14 per cent) were the top losers for the day.

On the sectoral front, except pharma, all other sectoral indices ended in the green with IT index added 1 percent. BSE Midcap and Smallcap indices ended flat.

Author’s View: Nifty has breached an important resistance level of 16500. If the market sustains above the level of 16500, the market expects to gain momentum, leading to an upside projection till 16700-16750 level.

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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