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Sensex Above 58,000 For First Time, Nifty Tops 17,300 Led By Reliance – NDTV Profit

The overall market breadth was positive as 1,711 shares were advancing while 829 were declining.

The Indian equity benchmarks scaled new all-time highs again on Friday with the 30-share Sensex crossing above 58,000-mark for the first time and Nifty 50 index moved above its important psychological level of 17,300. The Sensex rose as much as 253 points to hit an all-time high of 58,115.69 and Nifty 50 index touched record high of 17,311.95. Reliance Industries, Kotak Mahindra Bank, ICICI Bank, Infosys, Titan, Axis Bank and Larsen & Toubro were among the top movers in the Sensex.

As of 9:26 am, the Sensex was up 208 points at 58,060 and Nifty 50 index advanced 56 points to 17,290.

Meanwhile, Asian shares held their gains on Friday while the dollar was at a month low against major peers as traders awaited U.S. employment data with global shares at record highs.

MSCI’s broadest index of Asia-Pacific shares outside Japan was broadly flat in early trading in Asia having posted gains in eight of the last nine sessions as the benchmark edges back towards its position in mid-July before Chinese regulatory crackdowns sent shares tumbling.

Back home, ten of 15 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty PSU Bank index’s 1.7 per cent gain. Nifty Realty, Private Bank, Media, Bank, Auto and Financial Services indices also rose between 0.5-1.6 per cent.

On the other hand, metal, pharma, healthcare, information technology and FMCG indices were trading with a negative bias.

Mid- and small-cap shares were also witnessing buying interest as Nifty Midcap 100 index rose 0.6 per cent and Nifty Smallcap 100 index advanced 0.3 per cent.

Eicher Motors was top Nifty gainer, the stock rose 3.15 per cent to Rs 2,819. ONGC, Titan, Kotak Mahindra Bank, Reliance Industries, Hero MotoCorp, Coal India, Indian Oil, NTPC and Bharat Petroleum also rose between 0.6-1.6 per cent.

On the flipside, HDFC Life, Hindustan Unilever, HCL Technologies, Shree Cements, Tech Mahindra, Tata Consultancy Services, Cipla, Adani Ports, Hindalco, Mahindra & Mahindra, Tata Consumer Products, UltraTech Cement, Nestle India and Tata Steel were among the losers.

The overall market breadth was positive as 1,711 shares were advancing while 829 were declining on the BSE.