Sensex, Nifty End At Record High
The Indian equity markets marked another day of solid gains as the Nifty-50 index hit mount 18,000 for the first time in history during the afternoon trade on Monday, October 11. Advances in heavyweight Reliance Industries and equal contribution from Automobile and Power stocks led the indices to scale new peaks in the intraday session on Monday. However, the indices cleared some of its intraday gains in the late deals, mainly due to profit booking in technology shares.
The BSE Sensex ended the day's session at 60,175.78, up 76.72 points, while the Nifty-50 closed at 17,946.00, up 50.80 points. In the 30-share pack Sensex, 20 scrips witnessed buying interest and closed higher, while 10 stocks ended in the red. Shares of Maruti Suzuki and Power Grid Corp surged over three per cent each, while those of ITC and NTPC gained over two per cent each in the day's trade.
Sector-wise, except for the IT sector, all other sectors ended in the green backed by strong buying among investors. The automobile sector was the top gainer as the counter gained over two per cent led by shares of Tata Motors(+8.57 per cent), Bharat Forge (+4.67 per cent), and Maruti Suzuki. On the other hand, the Nifty Bank, Metal and Energy counters also closed up a per cent each.
The broader markets also performed well as both BSE Midcap and Smallcap indices closed higher by 0.5 and 0.6 per cent, respectively. In the Midcap space, GMR Infra and Tata Power were the top gainers as they advanced more than eight per cent each, while GOCL Corp and Shiva Cement jumped 20 per cent from the Smallcap space.
In the overall market breadth on Monday, nearly 1814 shares advanced, 1375 shares declined, and 141 shares were unchanged.
Experts were of a view that markets continued their upward march, and we can see more action with the ongoing earnings session. However, a sharp profit booking was witnessed today in the late deals, mainly in the IT pack post the Q2 numbers of TCS. Overall, the bull-run doesn't seem to end, and we will witness some positive action during the festive season with the consumption across sectors to increase amid reopening of economy across the country, said market experts.
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