Sensex ends at record high for 3rd day; Nifty settles lower

The Sensex closed 0.09 per cent higher at 36,858.23, a record close. The index hit an all-time intraday high of 36,947.18 in the session. The broader Nifty closed 0.02 per cent lower at 11,132.0, its first fall in four sessions.

Sensex ends at record high for 3rd day; Nifty settles lower
Market breadth, indicating the overall health of the market, remained positive. Image source: PTI
By ZeeBiz WebTeam
Updated: Wed, Jul 25, 2018
04:45 pm
ZeeBiz WebDesk
RELATED NEWS
Sensex falls 75 points as investors cream off gains Sensex falls 75 points as investors cream off gains
Top 5 stocks in focus on October 17: Cochin Shipyard, Lakshmi Machine to Cox and Kings, here are the 5 newsmakers of the day Top 5 stocks in focus on October 17: Cochin Shipyard, Lakshmi Machine to Cox and Kings, here are the 5 newsmakers of the day
Federal Bank shares jump nearly 8% after Q2 results Federal Bank shares jump nearly 8% after Q2 results
You would be a crorepati now if you had made most of 2008 crisis! These stocks gave 1000% to 30,000% returns You would be a crorepati now if you had made most of 2008 crisis! These stocks gave 1000% to 30,000% returns
Anil Singhvi's Market Strategy October 16: Trend to be Neutral; Cement, Fertilizers and Chemicals are Positive today Anil Singhvi's Market Strategy October 16: Trend to be Neutral; Cement, Fertilizers and Chemicals are Positive today

The benchmark indices ended largely steady on Wednesday with the Sensex inching higher to a record close, as investor sentiment stayed positive on bullish global cues. Gains in metal, energy and banking stocks amid sustained buying by domestic and foreign institutional investors contributed to the rally.

Covering-up of short positions by participants ahead of July futures and options (F&O) expiry tomorrow also supported the upmove.

The Sensex closed 0.09 per cent higher at 36,858.23, a record close. The index hit an all-time intraday high of 36,947.18 in the session. The broader Nifty closed 0.02 per cent lower at 11,132.0, its first fall in four sessions.

In the broader market, the BSE Smallcap added 0.2 per cent, while BSE Midcap settled marginally lower. 

Market breadth, indicating the overall health of the market, remained positive. On the BSE, 1,374 stocks rallied, 1,261 stocks declined, while 153 stocks remained unchanged.

"Market traded in a narrow range with a positive bias while rise in oil price and mixed global market led investors to take wait & watch approach. Rupee gained marginally and stock-specific buying was seen on the back of earnings and improved guidance. Market participants is likely to take a cautious approach ahead of F&O expiry tomorrow," said Vinod Nair, Head of Research, Geojit Financial Services.

WATCH ZEE BUSINESS VIDEO HERE

Meanwhile, Foreign portfolio investors (FPIs), who have been supporting the rally, bought shares to the tune of Rs 104.34 crore yesterday, while domestic institutional investors (DIIs) purchased equities worth a net Rs 513.78 crore, as per provisional data from the stock exchanges.

Overseas, a three-day worldwide stocks rally was threatening to stall on Wednesday, as investors waited for a meeting between U.S. President Donald Trump and the President of the European Commission to see where the global trade war was heading next.

Asian markets had inched up after Wall Street had hit a five-month high, extending a month-long advance, but tech and commodity stocks in Europe eased early on as the market’s focus returned to what may happen with tariffs.

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close