Sensex Today: After hitting all-time highs in intraday trade on Thursday, benchmark indices took a breather and settled flat. The S&P BSE Sensex claimed a record high of 67,771 in morning deals, but settled at 67,519, up 52 points or 0.08 per cent.
The Nifty50, too, hit a new high of 20,168, before ending the day at 20,103, up 33 points or 0.16per cent.
Among large-cap stocks, UPL, Hindalco, ONGC, Eicher Motors, M&M, Tech M, Tata Steel, Divis Labs, Apollos Hospitals, and Nestle India led the gainers’ list, while Asian Paints, ITC, Britannia, LTIMindtree, HDFC Life, Sun Pharma, Tata Consumer Products, and Coal India fell the most.
In the broader markets, the BSE MidCap and SmallCap indices outran the frontline indices as they gained 1 per cent each.
Sectorally, the Nifty PSU Bank index gained 1.64 per cent, the Nifty Metal index added 1.5 per cent, and the Nifty Realty eked out gains of 1.4 per cent. On the downside, the Nifty FMCG index fell 0.15 per cent.
“India has become the best performing large market in September with 4.2 per cent gains. This move to record highs breaching the psychological 20000 mark on the Nifty has been achieved with an impressive 4.3 per cent rise in Bank Nifty,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“While the CPI inflation data for August has come at 3.7 per cent against expectations of 3.6 per cent, core inflation was on expected lines coming at 4.3 per cent. So the market thinking is that the Fed is likely to pause in September,” Vijayakumar said.
Deepak Jasani, Head of Retail Research at HDFC Securities said, “The momentum in the Nifty and the broad market can continue. Nifty could stay in the 19865 – 20140 band for the near term.”
Global Cues
Asian equities rose on Thursday on easing rate concerns after U.S. consumer price data showed core inflation moderated to 4.3 per cent in August from 4.7 per cent in July, the smallest year-on-year rise in nearly two years.
However, the overall retail inflation accelerated 3.7 per cent in August, the most in 14 months, on rising gasoline prices.
Tokyo’s Nikkei rose 0.8 per cent to a one-week high. The S&P 500 rose 0.1 per cent and futures rose 0.2 per cent in Asia. European futures were flat.
Tokyo’s Nikkei rose 0.8 per cent to a one-week high. The S&P 500 rose 0.1 per cent and futures rose 0.2 per cent in Asia. European futures were flat.
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