Sensex, Nifty End At A Record High For Fifth Day Led By RIL, ITC, Bajaj Finance: Market Wrap
The Sensex closed 302 points, or 0.45%, higher at 67,097.44, while the Nifty 50 gained 84 points, or 0.42%, to end at 19,833.15.
India's benchmark stock indices closed at fresh record highs on Wednesday, led by gains in consumer durables and public sector banks, while information technology and auto stocks were under pressure.
Intraday, the Sensex rose 0.56% to a new high of 67,171.38, while the Nifty 50 jumped 0.52% to hit a fresh record high of 19,851.70.
Stocks in the U.K. and Europe advanced. Rate-sensitive real estate stocks led gains in Europe’s Stoxx 600, with U.K. homebuilders surging the most since 2008 on optimism about less-aggressive hikes. The U.K. consumer price index was 7.9% higher than a year ago in June, a sharp drop from the 8.7% reading in May.
U.S. futures were flat after Wall Street stocks closed near session highs on Tuesday, as earnings results from Bank of America Corp. and Morgan Stanley bolstered banking shares on Tuesday. In Asia, shares in Hong Kong and mainland China were the worst performers on Wednesday.
The S&P BSE Sensex closed 302 points, or 0.45%, higher at 67,097.44, while the NSE Nifty 50 gained 84 points, or 0.42%, to end at 19,833.15.
Reliance Industries Ltd., ITC Ltd., HDFC Bank Ltd., Bajaj Finance Ltd., and State Bank of India positively contributed to the change in the Nifty 50.
TCS Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., Hindustan Unilever Ltd., and Hindalco Industries Ltd. weighed on the index.
The broader market indices outperformed their larger peers, with the S&P BSE MidCap rising 0.63% and the S&P BSE SmallCap gaining 0.61% at the close of trading on Wednesday.
Nineteen out of the 20 sectors compiled by BSE Ltd. advanced, except S&P BSE Teck. S&P BSE Utilities rose the most.
The market breadth was skewed in favour of the buyers. About 2,003 stocks rose, 1,409 declined, and 125 remained unchanged on the BSE.