Sensex, Nifty close at an all-time high

Aug 01, 2017, 22:48
Sensex, Nifty close at an all-time high

The domestic markets opened at a new lifetime high continuing the record breaking rally as broader Nifty opened above 10,100 points for the first time ever and the benchmark Sensex opened above 32,550 points.

Satisfactory progress of monsoon rains and hopes that the Reserve Bank of India will cut interest rates by 25 bps when it reviews its monetary policy on August 2 may also underpin investor sentiment.

Investors' sentiments were buoyed by broadly positive global cues and intense buying activities in banking, consumer durables and capital goods stocks. 34 out of 51 scrips of Nifty 50 traded in green while most of the sectoral indices went up including Nifty Bank, Auto, IT, Media, Metal, Pharma, PSU Bank, Pvt Bank and realty with gains up to 1.04% while Nifty Fin Service and FMCG traded in red.

At 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) rose by 37.25 points or 0.37 per cent to trade at 10,051.75 points.

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Maruti Suzuki, Eicher Motors, Hero MotoCorp and Indiabulls Housing were the top gainers on both the indices, while Lupin, ONGC and Bank of Baroda were among the top losers.

However, the broader Nifty was trading slightly up by 1.75 points, or 0.02 per cent, at 10,078.85. The gauge had risen 205.06 points in the previous session to close at an all-time high of 32,514.94.

Shares of Larsen and Toubro moved up 2.85% after the company posted a 46% jump in consolidated net profit for the June quarter.

However, the BSE market breadth was bearish with 1,656 declines and 1,030 advances.

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Asian shares ticked up on Tuesday as investors looked to a barrage of economic data around the world to confirm recent signs the global economy is in fine fettle with inflation staying well contained.

The Dow Jones Industrial Average hit a record closing high on Monday, helped by Boeing, while selling in Facebook, Alphabet and other technology companies checked the S&P 500 and pulled the Nasdaq lower. Shanghai Composite rose 0.42 per cent.

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