Sensex, Nifty End At Record Highs Led By Gains In Metal Stocks

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The Indian equity benchmarks closed at record highs on Wednesday paced by gains in metal, realty and financial services shares. For most part of the day, the benchmarks traded in a narrow range wherein the Sensex traded in band of 354 points and Nifty 50 index touched an intraday high of 15,891.70 and low of 15,779.70. However, late buying in heavyweights like HDFC, Tata Steel, Asian Paints, HDFC Bank, Bajaj Finance and ICICI Bank helped benchmarks close at all-time highs.

The Sensex advanced 194 points to close at record high of 53,055 and Nifty 50 index rose 61 points to close at an all-time high of 15,880.

Investors parsed through some early earnings data while awaiting details on an upcoming cabinet reshuffle of the central government.

Buying was visible across the board as all the 11 sector gauges, barring the index of media shares, ended higher led by the Nifty Metal index’s 2.4 per cent gain.

Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 index rose 0.7 per cent and Nifty Smallcap 100 index advanced 0.62 per cent.

On the primary market front, GR Infraprojects and Clean Science and Technology Initial Public Offerings (IPOs) were fully subscribed within hours of opening on the first day of the issue.

Tata Steel was top Nifty gainer, the stock rose 5 per cent to close at Rs 1,225. JSW Steel, Hindalco, Bajaj Finserv, UPL, Nestle India, HDFC, Adani Ports, Power Grid, IndusInd Bank, Asian Paints and Sun Pharma also rose between 1-3 per cent.

On the flipside, Titan, ONGC, Maruti Suzuki, SBI Life, Reliance Industries, Shree Cements and Cipla were among the losers.

The overall market breadth was positive as 1,789 shares ended higher while 1,409 closed lower on the BSE.



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