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Nifty closes above 18K for first time since April, Sensex rises 456 pts; what lies ahead?

Nifty closes above 18K for first time since April, Sensex rises 456 pts; what lies ahead?

Sensex ended 456 pts higher at 60,571 today. After opening in the green, the index touched a day's high of 60,635 and a low of 60, 381. The 50-stock Nifty climbed 133 points or 0.75 per cent to end at 18,070.

Bajaj Finserv was the top Sensex gainer rising up to 4 per cent followed by IndusInd Bank, Bharti Airtel and Titan.  Shares of Bajaj Finserv rose after the stock turned ex-split today Bajaj Finserv was the top Sensex gainer rising up to 4 per cent followed by IndusInd Bank, Bharti Airtel and Titan. Shares of Bajaj Finserv rose after the stock turned ex-split today

Sensex closed above the 60,000 level for the second consecutive session on Tuesday amid positive global cues. This is the fourth session in which the Indian market has ended in the green. Nifty too managed to close above the 18K mark for the first time since April 4 this year. On April 4, the index closed at 18,053 level. Sensex ended 456 pts higher at 60,571 today. Of 30 Sensex stocks, 24 closed in the green. After opening in the green, the index touched a day's high of 60,635 and a low of 60, 381. The 50-stock Nifty climbed 133 points or 0.75 per cent to end at 18,070 with 34 of its constituents ending in the green.

Bajaj Finserv was the top Sensex gainer rising up to 4 per cent followed by IndusInd Bank, Bharti Airtel and Titan.

Shares of Bajaj Finserv rose after the stock turned ex-split today. Additionally, the firm was also trading ex-bonus that was announced in the ratio of 1:1. On the other hand, TCS, Asian Paints and Tech Mahindra were the top Sensex losers, falling up to 0.37 per cent.

Deepak Jasani, Head of Retail Research, HDFC Securities said, "The broader markets seem a bit tired. The US CPI number due in the evening and the US market reaction to the number may influence the opening of our markets tomorrow. Nifty could face resistance at 18,115 (and 18308 later) while 17,968 could offer support in the near term."

Mid-cap and small-cap indices on BSE gained 84 points and 70 points, respectively. Banking, capital goods and consumer durables stocks were the top sectoral gainers with their BSE indices zooming 320 points, 231 pts and 284 pts, respectively. Market breadth was positive with 1,865 stocks ending higher against 1,632 stocks falling on BSE. 103 shares were unchanged.

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Kunal Shah, Senior Technical Analyst at LKP Securities said, "Nifty surpassed the psychological mark of 18,000 and managed to close above it indicating the continuation of the ongoing momentum. The index lower end support stands at the 17,900-17,875 zone and as long as the mentioned support is held it remains in a buy mode. The index's immediate resistance on the upside is at 18,100 and once taken out will open the room for 18,400-18,500 on the upside."

Share Market Today Live Updates: Sensex surges 456 points, Nifty reclaims 18,050; financials, consumer durables, metal shine

Market cap of BSE-listed firms rose to Rs 286.73 lakh crore.

Foreign fund buying along with positive global cues helped the indices close in the green today. Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 2,049.65 crore on Monday, as per exchange data.

Previous session

Sensex closed above the 60,000 mark on Monday, led by gains in banking, IT and energy stocks amid positive global equities. That was the third consecutive session in which the Indian market ended in the green. Sensex gained 321.99 pts to a three-week high of 60,115.13. After opening in the green, the index touched a day's high of 60,284.55 and a low of 59,912.29. Nifty climbed 103 points or 0.58 per cent to end at 17,936.35, with 36 of its constituents ending in the green.

Global markets

Gains in global equities also supported the local markets. In Asia, the Shanghai Composite Index gained nearly 0.1 per cent, Japan's Nikkei 225 advanced 0.3 per cent and South Korea's key Kospi index jumped 2.7 per cent. However, Hong Kong's benchmark Hang Seng index declined 0.2 per cent. Brent crude rose to $95.15 per barrel in London.