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Sensex, Nifty close at life-time highs post robust buying in metal, realty stocks on the back of upbeat earnings

Mumbai: Benchmark indices Sensex and Nifty closed at life-time high levels on Monday after robust buying in metal, realty and capital goods stocks on the back of encouraging earnings.

The BSE Sensex continued its record-setting spree for a second day as it gained 106.50 points to close at fresh peak of 36,825.10. The 30-share index also bettered its record trading high at 36,902.06 points in day trade. It had hit its previous record intra-day high of 36,749.69 on Monday.

Representational image. Reuters.

Representational image. Reuters.

The broader NSE Nifty also finished at fresh record high of 11,134.30, up 49.55 points or 0.45 percent, as 32 of its 50 scrips gained. The 50-issue index surpassed its previous record closing of 11,130.40 hit on 29 January.

Sustained FII inflows and fresh spell of buying by domestic institutional investors supported the stocks at record levels. Besides, encouraging first-quarter earnings by some more companies and firming trend in global markets too bolstered trading sentiments, brokers said.

Major gainers include L&T, Asian Paints, Vedanta, Tata Steel, Coal India, Infosys, M&M, Adani Ports, Maruti Suzuki, Axis Bank, HDFC, Power Grid, ONGC, Tata Motors, Sun Pharma, ITC, IndusInd Bank, HDFC Bank and SBI, rising up to 3.36 percent.

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Shares of cement major ACC Ltd on Monday surged 12.86 percent after the company reported a rise, albeit marginally, in the consolidated net profit at Rs 329 crore for the June quarter.

Foreign portfolio investors (FPIs) bought shares worth a net of Rs 259.37 crore and DIIs bought shares worth a net of Rs 124.82 crore on Monday, provisional data showed.


Updated Date: Jul 24, 2018 16:30 PM

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