Benchmark indices closed at record highs today, tracking gains in banking and consumer durables stocks.The 30-share Sensex ended 148.53 points or 0.25 per cent higher at 60,284.31. Nifty rose 46 points or 0.26 per cent to its fresh closing peak of 17,991.95.
Titan was the top Sensex gainer, rallying 5.55 per cent, followed by Bajaj Auto, Bajaj Finserv, SBI, Nestle India, ITC, Axis Bank and Tata Steel.
HCL Tech, Tech Mahindra, UltraTech Cement, TCS and Sun Pharma were among the top Sensex losers, falling up to 4.04%. Of the 30 Sensex shares, 17 ended higher.
"Following selling in IT stocks as a result of a weak start to the earnings season and weakness in global markets, the domestic market traded in the negative zone, said Vinod Nair, Head of Research at Geojit Financial Services.
"However, with strong support from PSU banks on revamped hopes of privatisation and continued buying interest in consumer goods, metals and auto, indices managed to end on a positive note. While global markets traded with cuts in fears of rising inflation due to soaring commodity prices and energy crunch," he stated.
Market cap of BSE-listed firms stood at Rs 268.30 lakh crore. BSE mid cap and small cap indices rose 169 points and 75 points, respectively.
On the sectoral front, consumer durables and banking shares led the gains with BSE consumer durables index rising 1,228 points and BSE bankex ending 280 points higher in trade today.
The market breadth was positive with 1,772 shares ending higher against 1,573 shares closing in the red. 133 shares were unchanged.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "It was a volatile session for the markets but bulls gained strength in late trades as Nifty once again breached the 18,000 mark before ending a tad lower below the psychological mark.
On daily and intraday charts, Nifty has formed a promising higher bottom formation. The intraday structure suggests 17,850 could be the trend decider level for the bulls. Above the same, the uptrend formation is likely to continue up to 18050-18125 levels. On the flip side, below 17850/59850 the uptrend would be vulnerable."
Benchmarks fell in Paris, Frankfurt, Tokyo, Hong Kong and Shanghai. Germany's DAX lost 0.7% to 15,096.43 and the CAC 40 in Paris gave up 0.8% to 6,518.71.
In London, the FTSE 100 sank 0.6% to 7,106.92. In Asia, Tokyo's Nikkei 225 index lost 0.9% to 28,230.61, while the S&P/ASX 200 slipped 0.3% to 7,280.70. In Seoul, the Kospi fell 1.4% to 2,916.38 The Hang Seng in Hong Kong gave up 1.4% to 24,962.59 and the Shanghai Composite index declined 1.3% to 3,546.94.
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