Sensex, Nifty scale fresh all-time highs; Sunteck Realty up 9%; Intellect Design down 5%

Indian equity benchmarks touched their new all-time high levels in early deals on Friday amid a volatile trading session. The domestic indices rose today led by gains in consumer durables and energy stocks. The 30-share BSE Sensex climbed more than 100 points to hit a record high of 65,899, while the broader NSE Nifty scaled a fresh lifetime peak of 19,524. Mid- and small-cap shares were mixed as Nifty Midcap 100 shed 0.03 per cent and the small-cap 100 was up 0.14 per cent.

On the global front, Asian shares were trading on a weak note today. Overnight, Wall Street equities closed lower, with the S&P 500 and Dow Jones Industrial Average posting their biggest single day fall since May.

Bach home, nine out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the green. Sub-indexes Nifty Consumer Durables and Nifty Oil & Gas were outperforming the NSE platform by rising as much as 0.99 per cent and 0.63 per cent, respectively.

Foreign institutional investors (FIIs) bought Rs 2,641 crore of Indian equities on a net basis on Thursday, while domestic investors sold Rs 2,352 crore of shares, as per provisional NSE data.

Foreign inflows have entirely supported the rise in India's benchmarks over the last few months, according to analysts.

On the stock-specific front, Titan was the top Nifty gainer as the stock jumped 2.89 per cent to trade at Rs 3,196.15. Also, HDFC Life, M&M, SBI Life and Reliance Industries climbed up to 1.62 per cent.

In contrast, Bajaj Finance, Apollo Hospitals, Hindalco, Hero MotoCorp and Nestle India slipped up to 1.11 per cent.

The overall market breadth was strong as 1,791 shares were advancing while 1,173 were declining on BSE.

On the 30-share BSE index, Reliance, Titan, Tata Consultancy Services, M&M, Maruti and Sun Pharma were among the top gainers.

In addition, Sunteck Realty, Praj Industries and Kalyan Jewellers jumped up to 8.52 per cent.

On the flip side, Intellect Design Arena, M&M Finance and MCX slipped up to 5.44 per cent.

The equity benchmarks had closed in on all-time highs yesterday. Sensex had gained 340 points or 0.52 per cent to settle at 65,786, while Nifty had added 99 points or 0.51 per cent to close at 19,497.

Nifty outlook

 

"We maintain the near-term support zone near 19,300 levels whereas the upside target remains intact at 19,800-19,900 levels with the broader markets also continue to show active participation. The support for the day is seen at 19,400 levels while the resistance is seen at 19,650 levels," said Vaishali Parekh, Vice-President - Technical Research at Prabhudas Lilladher.

 

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