Benchmark indices scaled new closing highs amid volatile trade today with index heavyweights such as Reliance, Infosys and TCS clocking gains amid positive cues from global markets.
Sensex climbed 77 points to end at its all-time high of 52,551 and Nifty advanced 12 points or 0.08 per cent to its fresh record of 15,811. Reliance Industries was the top Sensex gainer rising around 1.5 per cent, followed by Bajaj Finance, ONGC, Infosys, PowerGrid, L&T and IndusInd Bank. Kotak Bank, NTPC, HDFC, Sun Pharma, Bajaj Auto and Maruti were among the top losers falling up to 1.51%.
Of 30 Sensex stocks, 15 closed in the green. Market capitalization fell to Rs 230.82 lakh crore against previous close and record high of Rs 231.11 lakh crore on BSE.
Market breadth was marginally negative with 1,655 shares rising against 1663 shares closing lower on BSE. 163 stocks were unchanged.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said, "It was completely unexpected to recapture the levels of 15800 but gains in Reliance, Infosys and Bajaj Finance made it possible. The formation of the market is suggesting a bullish continuation, however, for that the market would consolidate between the levels of 15850 and 15700. Once the market starts trading and sustaining above the levels of 15,850, then it would not be difficult for the market to conquer the levels of 16000/16050. Buying is advisable if the market drops to 15700/15720 levels."
BSE mid cap and small cap indices fell 156 points and 40 points, respectively. Consumer durables and information technology stocks led the rally with their BSE indices rising 135 points and 130 points, respectively.
Meanwhile, rupee declined 22 paise to close at 73.29 (provisional) against the US currency today, marking its fifth straight session of fall as rising crude oil prices weighed on investor sentiment. At the interbank foreign exchange market, the rupee opened on a negative note at 73.21 per dollar against its previous close of 73.07.
Elsewhere in Asia, bourses in Tokyo and Seoul ended on a positive note. Markets in China and Hong Kong were closed on account of a local holiday.
Equities in Europe were trading with gains in mid-session deals.
International oil benchmark Brent crude was trading 0.94 per cent higher at $73.37 per barrel.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said,"Bulls managed to defend the swing low of 15,566. The index recovered significantly from the lower channel line and posted a positive daily close. Structurally, Nifty has a potential to form a triangular pattern on the hourly chart. In that case, it can once again dip towards 15,650-15,600 before heading higher. On the higher side, 15,835 will act as an immediate resistance with the overall short term target at 16,000."
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