Sensex, Nifty End At Record Closing Highs Led By HDFC Bank, Tata Motors: Market Wrap
Both indices closed at their highest levels with the Nifty settling at 24,857.30 and the Sensex ending at 81,455.40.
India's benchmark stock indices continued their gains for the third consecutive session to end at fresh record closing highs on Tuesday, led by gains in HDFC Bank Ltd., Tata Motors Ltd., and NTPC Ltd.
Both indices closed at their highest levels. The NSE Nifty 50 closed at 24,857.30, up 0.09% or 21.20 points, and the S&P BSE Sensex closed at 81,455.40, up 0.12% or 99.56 points.
"Nifty 50 has made a doji candlestick pattern, which indicates an indecisiveness between the bulls and bears," said Aditya Gaggar, director of Progressive Shares. "A psychological level of 25,000 will continue to act as a strong barrier while immediate support is placed at 24,800, followed by 24,660."
Shares of Tata Motors Ltd., HDFC Bank Ltd., NTPC Ltd., Power Grid Corp. Ltd., and Titan Co. contributed to the gains in the Nifty 50.
While those of Reliance Industries Ltd., ITC Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., and Tata Consultancy Services Ltd. weighed on the index.
Seven of the 12 sectoral indices closed higher, led by Nifty Energy. While Nifty FMCG was the top loser.
Broader markets outperformed benchmark indices, with the S&P BSE Midcap and Smallcap indices ending with 0.27% and 0.88% gains, respectively.
On BSE, 16 sectors advanced and four declined. The S&P BSE Utilities rose the most, while the S&P BSE FMCG declined the most.
Market breadth was skewed in favour of the buyers. Around 2,296 stocks advance, 1,597 stocks declined, and 130 stocks remained unchanged on BSE.
