After all-time high, Nifty, Sensex close at new peaks
Jun 18, 2024
Mumbai (Maharashtra) [India], June 18 : Indian markets closed at a record high on Tuesday and both the indices touched new levels during the trading session.
The BSE Sensex peaked at a record 77,366.77, while the Nifty50 hit an all-time high of 23,579.05. The Nifty 50 closed up 0.39 per cent at 23,557.90, and the Sensex rose 0.40 per cent to 77,302.02.
"Technically, after a gap, opening market held the positive momentum throughout the day. On daily and intraday charts, it is holding higher, high and higher low formation, which supports further uptrend from the current levels," said Shrikant Chouhan, Head Equity Research, Kotak Securities
The top gainers on the Nifty 50 included Shriram Finance, Power Grid Corp, Wipro, Titan Company, and Adani Enterprises, while Maruti Suzuki India, Dr Reddy's Lab, Ultra Tech Cement, Tata Steel, and Tata Motors lagged behind.
In the sectoral indices except for healthcare, pharmaceuticals, metals, media, and FMCG, all sectoral indices posted gains.
"Market sentiment remained positive amid expectations of resilient economic growth and corporate earnings. The focus shifted to US retail sales data and Federal Reserve speeches ahead of a holiday. Treasuries stabilized after recent declines, while the dollar showed minimal movement" said Varun Aggarwal, MD, Profit Idea.
The key sectors driving the market included realty, consumer durables, banking, financial services, and IT. The broader market saw the BSE SmallCap rise 1.03 per cent and the BSE MidCap climb 0.46 per cent.
In the global market, the European stocks followed Asian markets higher, with the Stoxx Europe 600 recovering modestly amidst ongoing political concerns in France. US futures held steady after the S&P 500 marked its 30th record high of the year, supported by strong earnings and economic outlook despite concerns over interest rates.
