Benchmark S&P BSE Sensex closes above the 34k level
Mumbai : Wiping off the day’s initial losses, the key indices of the Indian equity markets closed Tuesday’s trade at new highs, with the barometer 30-scrip Sensitive Index (Sensex) closing above the 34,000-level for the first time. According to market observers, healthy buying in metals, healthcare and auto stocks among others aided in the upward rally of the key indices.
The Sensex closed at 34,010.61 points — up 70.31 points or 0.21 per cent from Friday’s closing high of 33,940.30 points. It scaled a fresh high of 34,061.88 points on an intra-day basis. The BSE market breadth was bullish as 1,662 stocks advanced while 1,085 declined.
On the NSE, the wider Nifty50 closed higher by 38.50 points or 0.37 per cent at a fresh level of 10,531.50 points. The Nifty touched a new high of 10,545.45 points on an intra-day basis. “Markets surged higher in late afternoon session [on Tuesday], after remaining in a narrow range movement for better part of today’s session. The Nifty closed up 0.37 per cent at 10,532 after making a new all time high at 10,545,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS. In the process, the Sensex also crossed the 34,000 mark and closed above it. Technically, with the Nifty surging higher after few sessions of sideways movement, the underlying short term uptrend remains up,” he added.
Provisional data with the exchanges showed that FIIs sold scrips worth Rs 44.07 crore while domestic institutional investors purchased stocks valued at Rs 544.50 crore.
Vinod Nair, Head of Research, Geojit Financial Services, told the news agency: “Markets started off range bound as investor’s participation remained low due to holiday season, while stock specific action in telecom, pharma and metals towards the close raised the indices to a new high.”
