The Indian equity market ended higher on Wednesday with Sensex ending at its fresh life-time high led by buying in banking counters. Sensex closed 107.73 points higher at 61,980.72. During the day, the 30-stock index hit its 52-week high of 62,052.57, rising 179.58 points. Nifty ended marginally higher by 6.25 points or 0.03 per cent to 18,409.65.
Kotak Mahindra Bank (2.73%), Hindustan Unilever (0.98%), Dr Reddy's (0.92%) , HDFC Bank (0.80%) and Bharti Airtel (0.77%) were among the top Sensex gainers.
Bajaj Finance (1.89%), Tata Steel (1.80%), NTPC (1.19%), Bajaj Finserv (1.15%) and UltraTech Cement (0.73%) were among the top Sensex losers.
Rupak De, Senior Technical Analyst at LKP Securities said, "The Nifty has been consolidating for the last few days after a swing high breakout on the daily timeframe. However, no classic reversal pattern has formed. The short term, moving average is sitting well below the current index value, suggesting an ongoing uptrend. The trend looks positive till it holds above 18250. On the higher end, immediate resistance is visible at 18440-18450; above 18450 the Nifty is expected to move towards 18600-18650."
Market cap of BSE-listed firms fell to Rs 284.32 lakh crore today. Market breadth was negative with 1,436 shares closing higher against 2,081 stocks falling on BSE. 121 shares were unchanged.
Midcap and small cap indices on BSE lost 169 points and 99 points, respectively. Banking and capital goods shares were the top gainers with their BSE indices zooming 227.73 points and 117 points, respectively.
Foreign institutional investors (FIIs) sold shares worth Rs 221.32 crore on Tuesday, as per exchange data.
The Indian equity market closed higher on Tuesday tracking foreign fund inflows amid a positive trend in global markets. The Sensex climbed 248.84 points or 0.40 per cent to close at a record high of 61,872.99-surpassing its previous closing peak of 61,795.04 on November 11.
Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong settled lower, while Tokyo ended higher. Equity exchanges in Europe were trading mostly lower in the afternoon session. Wall Street had ended in the positive territory on Tuesday. International oil benchmark Brent crude was trading 0.28 per cent higher at $94.12 per barrel.
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