Markets

Sensex, Nifty scale new records

Banking, telecom stocks lead

Market benchmark Sensex and Nifty on Monday advanced up to 0.36% to close at fresh record levels largely on the back of gains in banking, energy and telecom stocks.

The 30-share BSE Sensex also hit an all-time high of 37,805.25 in day trade, breaking its previous intra-day record level of 37,711.87 touched on August 1, as index major Reliance Industries, ICICI Bank and Axis Bank advanced.

The barometer closed up by 135.73 points, or 0.36%, at 37,691.89, its all time closing high, even as 17 of its constituents ended in the red.

The broader NSE Nifty advanced 26.30 points or 0.23% to end at a historic high of 11,387.10, bettering its previous record close of 11,360.80 hit on Friday.

The 50-share index breached the 11,400 mark for the first time in day trade and touched record intra-day high of 11,427.65 on gains in consumer durables, PSU, metal and auto stocks.

Fresh buying by domestic institutional investors (DIIs) and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment, brokers said.

Asian markets ended mixed after initial gains as investors continued to monitor the U.S.-Sino trade spat.

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Printable version | Jul 16, 2020 3:45:59 AM | https://www.thehindu.com/business/markets/sensex-nifty-scale-new-records/article24615429.ece

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