Indian Equity Indices Hit Record Highs, Close Marginally Higher Amid Volatility
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The 30-share BSE benchmark Sensex rose 52 points or 0.08 per cent to settle at 67,519. The broader NSE Nifty Future 61.45 points or 0.31 per cent to end at 20,186.
From the Sensex pack, M&M, Tata Steel, Tech Mahindra, and Nestle were the top gainers, rising 1-2.5%. On the flip side, Asian Paints, ITC, Sun Pharma, Bajaj Finserv, Bharti Airtel, and Titan closed with losses.
Barring FMCG, media, and consumer durables, all the other major sectors logged gains, with auto rising over 1 per cent and realty stocks adding 1.64 per cent. Meanwhile, Nifty Midcap100 gained 1.17 per cent, and Smallcap100 rose 1.31 per cent.
From individual stocks, Bombay Dyeing shares closed 9 per cent higher following a nod from the Wadia Group company Board to the proposal to sell the land parcel of about 22 acres in Worli, Mumbai, to Goisu Realty, a subsidiary of Japanese realty developer Sumitomo for Rs 5,200 crore.
The market breadth was skewed in favour of the bulls. About 2,387 stocks gained, 1,275 declined, and 142 remained unchanged on the BSE.
FII and FPIs, on Thursday, saw a net purchase of Rs.294.69 crore in the cash segment. A total of Rs.9575.31 crore was sold against a total purchase of Rs.9870.00 crore. Domestic institutional investors saw net sales of Rs.50.80 crore in the cash segment. A total of Rs.6993.94 crore was sold against a total purchase of Rs.6943.14 crore.
Meanwhile, The market traded range-bound after touching a new high as higher-than-expected US inflation and anticipation of hawkish ECB policy meetings later today (Thursday) impacted investor sentiment. Concern overvaluation and inflation trajectory due to increasing oil prices may navigate the market into a consolidation phase in the near term.
Technically, the important key resistances placed in August Nifty future are at 20186 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional move with immediate resistances seen at 20202 – 20303 levels. Immediate support is placed at 20008 – 19939 levels.
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