Sensex, Nifty rally for sixth consecutive session, end at fresh lifetime highs

Mumbai: The Sensex and Nifty ended at fresh lifetime peaks on Tuesday amid a largely firm trend in other Asian markets and continuous foreign fund inflows. The 30-share BSE Sensex gained 177.04 points or 0.28 per cent to settle at 62,681.84, its fresh record closing high. During the day, it jumped 382.6 points or 0.61 per cent to its lifetime intra-day peak of 62,887.40. The broader NSE Nifty advanced 55.30 points or 0.30 per cent to end at 18,618.05, its fresh record closing high. “While the winning streak continued and key benchmarks scaled new highs, investors traded with caution in a slightly volatile market. There are worries about growing protests in China over the imposition of strict lockdowns, which markets fear could hurt the already slowing global economy,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said. “If the situation doesn’t improve, this could impact the market. But since India is in a slightly better position compared to other major economies, investors are willing to bet big on us,” Chouhan Among the Sensex pack, Hindustan Unilever, Sun Pharma, Nestle, Dr Reddy’s, Tata Steel, ICICI Bank, Titan and HCL Technologies were the major winners. IndusInd Bank, Bajaj Finserv, Maruti, Power Grid and Larsen & Toubro were among the major laggards. “Indian markets opened on positive note following positive overall Asian markets… During the afternoon session the markets continued their positive trend with heavy buying in FMCG and consumer durables stocks. Sentiments remained optimistic as data showed that foreign portfolio investors have infused funds worth Rs 32,344 crore in the Indian stock markets so far in the month of November and became net buyers again,” said Narendra Solanki - Head Fundamental Research- Investment Services, Anand Rathi Shares & Stock Brokers. In the broader market, the BSE midcap gauge declined 0.39 per cent and smallcap index dipped 0.29 per cent. Among sectoral indices, FMCG jumped 1.73 per cent, metal (0.57 per cent), consumer durables (0.58 per cent) and healthcare (0.54 per cent). Consumer discretionary, energy, industrials, telecommunication, auto, bankex and services were among the laggard. Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended higher, while Tokyo settled lower. Equity exchanges in Europe were trading mostly lower in the afternoon trade. Wall Street had ended in the negative territory on Monday. International oil benchmark Brent crude was trading 2.45 per cent higher at USD 85.23 per barrel. Foreign Institutional Investors (FIIs) bought shares worth Rs 935.88 crore on Monday, as per exchange data. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.