Stock Market Today: Nifty Extends Rally To 13Th Session With Fresh Closing Highs; Bajaj Finance, ITC Lead

The Indian Rupee weakened by 5 paise to close at 83.92 against the US dollar. It closed at 83.87 on Friday.

Source: Bloomberg

India's benchmark stock indices recorded their best closing on Monday, with the Nifty 50 extending gains for the 13th consecutive session, its longest run in decades. Sensex rose for the tenth consecutive session.

The NSE Nifty 50 ended 0.2%, or 49.35 points, higher at 25,285.25, and the Sensex closed 0.24%, or 194.07 points, up at 82,559.84. Intraday, the Nifty hit a new record high of 25,333.60 and the Sensex touched a fresh lifetime high of 82,725.28.

Nifty's incremental gains however shows sign of fatigue as options data indicate heavy call writing at 25,300 for the weekly expiry, Kush Bohra, founder of investment advisory firm kushbohra.com said. "Despite the bullish trend, consider booking profits from this stellar run and reinvesting at a dip. Prudence dictates locking in gains and rebalancing positions."

Shares of ITC Ltd., Bajaj Finance Ltd., Infosys Ltd. and Reliance Industries Ltd. contributed the most to the gains of Nifty.

While those of HDFC Bank Ltd., Tata Motors Ltd. and Bharti Airtel Ltd. weighed on the Nifty.

The market breadth was skewed in the favour of sellers. As many as 2,255 stocks fell, 1,782 rose, and 149 remained unchanged on the BSE.

Broader indices underperformed. BSE Midcap ended flat and BSE Smallcap closed 0.5% down.

Thirteen out of 20 sectoral indices on the BSE fell and seven ended higher. BSE Metal fell the most.

Most sectoral indices ended higher with Nifty FMCG rising the most. Nifty Metal and Nifty Pharma were the only indices that fell.

• Nifty ends higher in the thirteenth consecutive session; Sensex ends higher for ninth consecutive session

• Both indices recorded highest close

• Nifty ends 0.2% or 49.35 points higher at 25285.25

• Sensex ends 0.24% or 194.07 points higher at 82559.84

• Intraday

• Nifty rose as much as 0.4% to hit a new record high 25,333.60

• Sensex rose as much as 0.41% to hit its highest level of 82,725.28

• Broader indices underperformed; Nifty Midcap 100 ended 0.21% down and Nifty Smallcap 250 fell 0.08%

• Sectoral indices were mixed at close; Nifty FMCG was the top gainer and Nifty Metal fell the most

• Bajaj Finance and Bajaj Finserv were top Nifty gainers

• Hindalco Industries and Dr.Reddy's Labs were top losers among Nifty stocks

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Source: Company