Sensex, Nifty Closes At High
The benchmark indices ended the intraday with stellar gains which led Sensex, Nifty to close with record closing highs on Thursday, June 3. Analysts feel that the bulls gained ahead of the RBI Policy as expectations of vaccinations being ramped up coupled with Capex programs is likely to improve credit growth.
The frontline S&P BSE Sensex closed higher by 382.95 points at 52,232.43 with handsome gains in Titan Company (+6.69 per cent) and ONGC (+4.16 per cent). Overall in the 30-share pack, 21 shares closed with gains, while 9 scrips ended with declines.
The Nifty-50 registered a record high of 15,705.10 in the intraday session and managed to end the day at 15,690.35, up by 114.15 points.
Among the individuals, shares of Reliance Industries marked its day's high of Rs 2,250 in the intraday session on Thursday. The market capitalization of the company also crossed 14 lakh crore as the stock price has shooted 14.53 per cent in the last seven trading sessions.
The broader markets outperformed too with both the BSE Midcap and Smallcap index surging to an all-time high of 22,394.62 and 24,138.48, respectively. Both BSE Midcap and Smallcap indices advanced over a per cent each in the day's trade. Shares of Voltas and Oberoi Realty were the top gainers in the Midcap space gaining between 7-9 per cent each.
Moving ahead, RBI's policy outcome can create an impact on the markets, especially the banking space, said experts.
"On Friday, week end considerations could result in some profit-taking at these or higher levels. The outcome of RBI’s credit policy meet can impact Banking and other sectors though expectations are subdued therefrom," said Deepak Jasani - Head of Retail Research at HDFC Securities.
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