India News | Sensex, Nifty Hit All-time Closing High Levels on Gains in Auto, FMCG Shares
Get latest articles and stories on India at LatestLY. Benchmark indices Sensex and Nifty rebounded on Tuesday, hitting their fresh record closing levels on the back of gains in auto and FMCG shares and foreign fund inflows.
Mumbai, Jul 9 (PTI) Benchmark indices Sensex and Nifty rebounded on Tuesday, hitting their fresh record closing levels on the back of gains in auto and FMCG shares and foreign fund inflows.
The 30-share BSE Sensex climbed 391.26 points or 0.49 per cent to settle at a new closing peak of 80,351.64. During the day, it jumped 436.79 points or 0.54 per cent to hit a new lifetime high of 80,397.17.
The NSE Nifty went up by 112.65 points or 0.46 per cent to 24,433.20 -- its record closing high. During the day, it surged 123.05 points or 0.50 per cent to hit a new record peak of 24,443.60.
"Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing," said Vinod Nair, Head of Research, Geojit Financial Services.
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Among Sensex shares, Maruti Suzuki India jumped over 6 per cent amid reports that the UP government waived registration taxes on hybrid cars as part of its initiative to promote environmentally friendly vehicles in the state.
Mahindra & Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other big gainers.
Reliance Industries, Kotak Mahindra Bank, Bajaj Finance and JSW Steel were among the laggard.
Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction, Nair said, adding, "Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment.".
In the broader market, the BSE midcap gauge climbed 0.36 per cent and smallcap index went up by 0.22 per cent.
Among the indices, auto jumped 2.17 per cent. Consumer durables (2.01 per cent), realty (1.23 per cent), consumer discretionary (1.21 per cent), healthcare (1 per cent) and utilities (0.76 per cent) also closed higher.
Telecommunication, capital goods and teck were the laggards.
A total of 2,010 stocks advanced while 1,924 declined and 92 remained unchanged on the BSE.
Also, 320 stocks hit their upper circuit limit while 242 firms hit the lower circuit levels.
The market capitalisation of BSE-listed firms on Tuesday hit a fresh lifetime high of Rs 451.27 lakh crore.
In Asian markets, Seoul, Tokyo and Shanghai settled higher while Hong Kong ended lower. European markets were trading mostly lower. US markets ended mostly higher on Monday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 60.98 crore on Monday, according to exchange data.
Global oil benchmark Brent crude declined 0.51 per cent to USD 85.31 a barrel.
The BSE benchmark declined 36.22 points or 0.05 per cent to settle at 79,960.38 on Monday. The NSE Nifty dipped 3.30 points or 0.01 per cent to 24,320.55.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)