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Benchmark indices hit fresh-time high, Nifty ends higher for 13th consecutive sessions

At close, the Sensex was up 194.07 points or 0.24% at 82,559.84, and the Nifty was up 42.80 points or 0.17% at 25,278.70.

Benchmark indices hit fresh-time high, Nifty ends higher for 13th consecutive sessions

Photo: IANS

Nifty ended higher for 13th consecutive sessions on Monday, supported by bank, FMCG and Information Technology, despite weak global cues.

At close, the Sensex was up 194.07 points or 0.24% at 82,559.84, and the Nifty was up 42.80 points or 0.17% at 25,278.70.

BSE Sensex and Nifty touched fresh all-time high of 82,725.28 and 25,333.65, respectively.

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On Nifty, Bajaj Finserv, Bajaj Finance, HCL Technologies, Bajaj Auto and Hero MotoCorp were among the top gainers.

While the losers were Grasim Industries, Kotak Mahindra Bank, Adani Enterprises, Coal India and Nestle India.

On BSE,over 330 stocks hit their fresh 52-week highs in intraday trade. These included TCS, Infosys, ITC, HCL Tech, Persistent Systems, Bharti Airtel, Bajaj Finserv, Bajaj Auto, Sun Pharma, Lupin, Cipla and Divi’s Labs.

Among the sectors, BSE Telecom (1.65%), Metal (1.18%) and Industrials (0.82%) lost significantly.

On the NSE, Nifty Bank closed 0.17% higher, while the PSU Bank and Private Bank indices rose 0.51% and 0.25% respectively.

The BSE midcap index also hit fresh record high but ended on a flat note, while smallcap index was down 0.5%.

Shares of HPCL rose over 2% on the back of a decline in Brent crude prices, which is likely to aid their margins.

Hero MotoCorp shares rose over 2% as investors rejoiced at the company’s better-than-expected monthly sales number for August.

Shares of the Paytm parent fell nearly 2% as investors booked profits after the recent rise that had taken the stock higher by over 15% in two sessions.

Dr Reddy’s shares fell over 2% after the Chinese drug regulator National Medical Products Administration of China (NMPA) decided suspended the import, sale, and use of the pharma giant’s Atomoxetine Hydrochloride capsules.

Shares of Suzlon Energy extended their losing streak for a third straight session dropping over 4% and pushing the company’s market capitalization below Rs 1 lakh crore.

On the global platform, the European markets, such as the UK’s FTSE, France’s CAC and Germany’s DAX, were in the red.

Among the Asian peers, Hang Seng and Shanghai Composite Index fell up to 2 per cent, while Kospi and Nikkei ended with mild gains.

The market’s focus is now on US macro data, including the US jobs report this week, which will influence expectations about the US Fed rate cut this month. At the current juncture, the market has fairly discounted a 25 bps rate cut.

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