Stock Market Today: ICICI Bank, L&T Help Sensex To Close At Record High
Intraday, the Nifty 50 and Sensex advanced as much as 0.35% to 25,445.70 and 82,184.34 respectively.
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KEY HIGHLIGHTS
ICICI Bank, L&T Help Sensex To Close At Record High: Market Wrap
The BSE Sensex ended Monday's session at a record high, after both the indices traded at fresh opening highs, paring gains through midday. The NSE Nifty 50 also ended higher, buoyed by gains in ICICI Bank Ltd., and Larsen & Toubro Ltd.
The Nifty 50 ended 27.25 points or 0.11% higher at 25,383.75, and the BSE Sensex settled 97.84 points or 0.12% higher at 82,988.78.
Intraday, the Nifty 50 and Sensex advanced as much as 0.35% to 25,445.70 and 82,184.34 respectively.
"The index oscillated in an extremely thin range of 25,350-25,420 and finally settled at 25,383.75 with gains of 27.25 points. Among the sectors, Media was the top performer followed by Energy and Metal while FMCG was the major laggard," said Aditya Gaggar, director of Progressive Shares.
On the lower time frame, i.e. hourly chart, it appears that the index is forming a bullish pennant and pole formation where a strong move above 25,430 will be considered as a breakout point. In case of a breakout, the approximate target comes at 25,770, Gaggar added.
ICICI Bank Ltd., Larsen & Toubro Ltd., NTPC Ltd., and Axis Bank Ltd. led the gains in the NSE Nifty 50 benchmark.
While Bajaj Finance Ltd., Hindustan Unilever Ltd., and ITC Ltd. weighed on the index.
10 out of 12 sectors advanced on Monday, with Nifty Media and Nifty energy leading the gains. Only Nifty FMCG and Nifty IT declined.
Broader markets ended higher on BSE. The BSE midcap and Smallcap indiced ended 0.12% and 0.31% higher, respectively.
On BSE, 15 sectors ended higher, and five declined out of 20. The BSE Utilities rose the most, while the BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 2,185 stocks rose, 1,927 stocks declined, and 89 stocks remained unchanged on BSE.
Rupee Strengthens Against US Dollar
Rupee strengthened by 2 paise to close at 83.88 against the US dollar.
It closed at 83.90 on Friday.
Source: Bloomberg
Markets At Close
Sensex records its highest closing and Nifty ended 6 points below its highest close
Nifty ends 0.08% or 21.30 points higher at 25377.80
Sensex ends 0.12% or 97.84 points higher at 82988.78
Intraday, both Nifty and Sensex rose as much as 0.35% to hit their record highs of 25,445.70 and 83,184.34 respectively
Broader indices also ended higher; Nifty Midcap 100 ended 0.38% up while Nifty Smallcap 250 closed 0.16% higher.
Among sectoral indices, Nifty FMCG fell the most and Nifty Media was the top gainer. During the session Nifty Pharma, Nifty Financial Services, and Nifty IT hit their lifetime highs.
NTPC and JSW Steel were top Nifty gainers
Bajaj Finance and Hindustan Unilever fell the most
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