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Key indices further up on unabated bull run
The domestic markets ended at record highs for the third straight session on Wednesday on sustained foreign inflows and persistent buying by retail investors buoyed by the early onset of monsoon and encouraging quarterly earnings.
Investors remain firm ahead of GST Panel meet
Mumbai: The domestic markets ended at record highs for the third straight session on Wednesday on sustained foreign inflows and persistent buying by retail investors buoyed by the early onset of monsoon and encouraging quarterly earnings.
A strong rupee and healthy buying in metal and automobile stocks buoyed investors' sentiments.Investors remained firm ahead of a crucial GST Panel meet in Srinagar starting from Thursday. Both the benchmark indices touched all-time high levels.
Anand James, Chief Market Strategist of Geojit Financial Services, said: “Scaling of 9,500, a psychological mark in the Nifty, boosted investors' sentiments, while continued FII (foreign institutional investors) buying and consistently low volatility also served to help investors allay fears of sustainability of ongoing rally.”
The benchmark indices, which opened on a slightly lower note on weak global cues, pared their losses and closed in the green as healthy buying in metal and automobile stocks buoyed investors' sentiments.
| Top gainers |
| Symbol | LTP | % change |
| TATASTEEL | 493.40 | 8.07 |
| INFRATEL | 388.95 | 3.29 |
| IBULHSGFIN | 1,085.00 | 3.03 |
| TATAMOTORS | 448.90 | 2.66 |
| ICICIBANK | 309.45 | 2.25 |
| Top Losers |
| Symbol | LTP | % change |
| TECHM | 430.60 | -2.96 |
| ACC | 24,198.00 | -2.29 |
| BOSCHLTD | 1,455.40 | -1.94 |
| YESBANK | 0 | -1.89 |
| ADANIPORTS | 348.95 | -1.57 |
The 30-scrip Sensitive Index closed at a new high of 30,658.77 points, up 76.17 points or 0.25 per cent, from its previous close at 30,582.60 points. The wider Nifty also rose by 13.50 points or 0.14 per cent to 9,525.75 points, a new closing high.
“Banking sector stocks traded with bearish sentiments throughout the session on profit booking. Shares of Tata Steel gained over eight per cent, after it reported a stellar set of numbers for the fourth quarter on a standalone basis. Power sector stocks complemented the firmness of the equity markets,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said.
On Tuesday, the BSE Sensex closed at a high of 30,582.60 points and intra-day high of 30,591.55 points, while the NSE Nifty closed at a high of 9,512.25 points and an intra-day high of 9,517.20 points.
However, the broader markets underperformed the Sensex. The S&P BSE mid-cap index fell by 0.02 per cent and the small-cap index by 0.18 per cent.
On the currency front, the rupee weakened by seven paise to 64.15-16 per US dollar from its previous close of 64.08-09. In investments, provisional data with the exchanges showed that FIIs sold stocks worth Rs 731.39 crore, while domestic institutional investors (DIIs) purchased scrips worth Rs 614.51 crore.
