Home Trending News Nifty Resumes Record-Breaking Rally After A Day's Pause Led By TCS, Reliance

Nifty Resumes Record-Breaking Rally After A Day’s Pause Led By TCS, Reliance

Nifty Resumes Record-Breaking Rally After A Day's Pause Led By TCS, Reliance

The Indian equity benchmarks resumed their record-breaking streak after a day’s pause in the previous session led by gains in Reliance Industries, Tata Consultancy Services, Hindustan Unilever, HDFC, ICICI Bank and Kotak Mahindra Bank. The Sensex rose as much as 554 points and Nifty 50 index touched record high of 17,245.50. Optimism around economic recovery boosted investor sentiment for risk assets, analysts said.

The Sensex advanced 514 points to close at record high of 57,852.54 and Nifty 50 index climbed 158 points to close at an all-time high of 17,234.

Thirteen of 15 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Consumer Durables index’s nearly 2 per cent gain. Nifty Realty, Private Bank, Pharma, Information Technology and FMCG indexes also rose between 1-1.65 per cent.

On the other hand, PSU Bank and Auto indices ended lower.

Mid- and small-cap shares also witnessed strong buying interest as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose 1 per cent each.

HDFC Life was among the top Nifty gainers, the stock rose nearly 6 per cent to close at record high of Rs 760 a day ahead of its board meeting to consider preferential allotment of shares.

Shree Cements, Cipla, TCS, Hindustan Unilever, Kotak Mahindra Bank, UltraTech Cement, Nestle India, Britannia Industries, SBI Life, Dr Reddy’s Labs, Wipro, JSW Steel and Titan also rose between 1-3.5 per cent.

On the flipside, Mahindra & Mahindra fell nearly 2 per cent to close at Rs 755 after the company said that it will be observing ‘No Production Days’ of around 7 days in its Automotive Division plants in September.

ONGC, Bajaj Auto, Divi’s Labs, Tata Motors, Indian Oil, Bajaj Finserv, Hindalco, Hero MotoCorp, Bajaj Finance and Bharti Airtel were among the losers.

The overall market breadth was positive as 1,982 shares were advancing while 1,206 ended lower on the BSE.

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