Nifty, Sensex Extend Record Rally To Day Four As HDFC Bank, ICICI Bank Lead: Market Wrap
Sectoral indices on the NSE were mixed at close, with the Nifty Realty and the Nifty Bank being the top gainers.
The benchmark equity indices extended gains for the fourth straight session and closed at record highs on Tuesday, with the financial pack contributing the most. The NSE Nifty 50 ended 92.30 points or 0.39% higher at 23,557.90, while the S&P BSE Sensex closed 308.37 points or 0.40% up at 77,301.14.
During the day, the Nifty hit an all-time high of 23,579.05 points and the Sensex hit 77,366.77 points for the first time. The broader indices also joined the benchmarks, as the Nifty Smallcap 250 hit its lifetime high of 17,028.10 and the Nifty Midcap 100 hit its all-time high of 55,523.30.
"For the trend following traders now, 23,500–77,000 would be the key support level," Shrikant Chouhan, head of equity research at Kotak Securities, said. "As long as the market is trading above the same, the bullish sentiment is likely to continue."
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Shares of ICICI Bank Ltd., HDFC Bank Ltd., Power Grid Corp., Infosys Ltd., and Mahindra & Mahindra Ltd. contributed the most to the gains.
Maruti Suzuki India Ltd., ITC Ltd., Tata Consultancy Services Ltd., Tata Steel Ltd., and UltraTech Cement Ltd. capped the upside.
Sectoral indices on the NSE were mixed at close. The Nifty Realty and Bank were the top gainers, while Media and Pharma fell the most.
The broader markets ended higher as the BSE MidCap and SmallCap settled 0.43% and 0.96% higher, respectively.
The market breadth was skewed in favour of the buyers as 2,177 stocks rose, 1,822 declined, and 151 remained unchanged on the BSE.
