Sensex, Nifty Close At Record Highs For 5th Day In A Row Led By IT Stocks

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Sensex, Nifty Close At Record Highs For Fifth Day In A Row Led By IT Stocks

The S&P BSE Sensex and NSE Nifty 50 indexes continued on their record-breaking streak for fifth session in a row led by gains in information technology and pharma shares. For most part of the day benchmarks traded with a negative bias as traders booked profits in banking and financial services shares. However, late buying at lower levels helped benchmarks stage recovery from the lower levels. The Sensex rose as much as 396 points from day’s lowest level to hit an all-time high of 47,026.02 and Nifty 50 index touched record high of 13,773.25.

The Sensex advanced 70 points or 0.15 per cent to close at an all-time high of 46,960.69 and Nifty 50 index rose 20 points to end at record high of 13,760.55.

Gains in today’s session were capped as most of the sectors faced selling pressure on account of profit booking. Eight of 11 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Private Bank and Nifty PSU Bank indexes nearly 1 per cent decline. Nifty Bank, Financial Services, Metal and Auto indexes ended lower.

On the other hand, IT, Pharma and FMCG shares witnessed buying interest.

Mid- and small-cap shares also faced selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose 0.2 per cent each.

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Dr Reddy’s Labs was top Nifty gainer, the stock rose 3.35 per cent to close at Rs 5,243. Bajaj AUto, Infosys, Wipro, Cipla, Hindalco, State Bank of India, Titan, HCL Technologies, UPL, ICICI Bank, GAIL India and Hero MotoCorp also rose between 1-2.5 per cent each.

On the flipside, IndusInd Bank, HDFC Bank, ONGC, Maruti Suzuki, Indian Oil, Kotak Mahindra Bank, Adani Ports, Coal India, Bajaj Finance, Britannia Industries and Bharti Airtel fell between 1-3 per cent.

The overall market breadth was negative as 1,705 shares ended lower while 1,279 closed higher on the BSE.

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