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Sensex, Nifty close at record highs; metal, IT stocks lead gains

Sensex, Nifty close at record highs; metal, IT stocks lead gains

During the day, Sensex scaled lifetime peak of 54,717 and Nifty touched a fresh record of 16,349.

 Bharti Airtel was the top gainer on Sensex, surging around 4 per cent, followed by ITC, Tech Mahindra, Tata Steel and HCL Tech. Bharti Airtel was the top gainer on Sensex, surging around 4 per cent, followed by ITC, Tech Mahindra, Tata Steel and HCL Tech.

Benchmark indices closed at record highs for the third consecutive session today, despite profit-booking in the last hour of trade.

Sensex ended 123 points higher at 54,492 and Nifty climbed 35 points to 16,294.

During the day, Sensex scaled lifetime peak of 54,717 and Nifty touched a fresh record of 16,349.

Bharti Airtel was the top gainer on Sensex, surging around 4 per cent, followed by ITC, Tech Mahindra, Tata Steel and HCL Tech.

On the other hand, SBI, IndusInd Bank, Bajaj Finance and ICICI Bank were among the laggards.

Among 30 Sensex stocks, 14 ended in green.

However, BSE midcap and small cap indices rose 22 points and fell 116 points at 23,151 and 26,731, respectively. Metal stocks were the top sectoral gainers with their BSE index zooming 286 points to end at 21,256.

BSE IT index also surged 191 points to close at 31,638. Market cap of BSE-listed firms stood at Rs 239.36 lakh crore. Market breadth was negative with 1,151 shares rising against 2,081 falling on BSE. 119 shares were unchanged.

Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty continues to be positive. Having moved up sharply in the last few sessions, there is a possibility of consolidation or minor downward correction from the highs near to its breakout points support around 16,000-16,100 as per the concept of change in polarity.

This anticipation is evident after a formation of doji pattern on Thursday at the highs. Such anticipated decline could be a buy on dips opportunity in the market as per the concept of change in polarity."

Global markets

France's CAC 40 rose 0.5% to 6,782.92 in early trading while Germany's DAX added 0.2% to 15,722.35. Britain's FTSE 100 advanced 0.1% to 7,129.77.

In Asia, the Nikkei 225 in Tokyo closed 0.5% higher at 27,728.12. The Kospi in South Korea lost 0.1% to 3,276.13, while the Hang Seng in Hong Kong slipped 0.8% to 26,204.69.

The Shanghai Composite index fell 0.3% to 3,466.55. Sydney's S&P/ASX 200 gained 0.1% to 7,511.10.