INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The domestic market soared to new highs on Tuesday propelled by strong trading in other markets the world over
Most Asian markets ended higher for the day on hopes of ease in trade tensions globally
Besides buying emerged ahead of FO expiry.
World stocks rose to a six-month high, lifted by investor optimism that a US-Mexico deal to
overhaul the North American Free Trade Agreement (NAFTA) will go some way to averting a global trade war, Reuters reported.
BSE Sensex ended
the session at a record close of 38,896.63, up 202.52, or 0.52 per cent
Three stocks ended lower on BSE for every two stocks that settled higher, hinting at a bearish biasness
Vedanta emerged to be the biggest Sensex gainer followed by Adani Ports, Reliance Industries, Maruti, Axis Bank, HDFC
YES Bank was the top index loser with a fall of over 3 per cent
The 30-share index hit an intraday high of 38,938.91
The 50-share index Nifty closed at a record high of 11,738.50, up 46.55 points, or 0.40 per cent
21 stocks in the index settled higher although 29 ended the day in the red.
The rally in the Nifty index was led by gains metals,
Nifty Metals index jumped 1.82 per cent to 3,597.20
Steel stocks gained amid reports that domestic crude steel output increased by 5.4 per cent to 61.8 million tonnes (MT) in the first seven
month of the calendar year 2018.
However, losses in PSU Bank stocks capped gains for the domestic market
Nifty PSU Bank index lost 1.52 per cent to close at 3,234.
Reliance Industries ended the session above the Rs 1,300-level at Rs 1,318.20, up
"For the second straight session, the equity benchmark indices scaled to a new record high of 11,760, tracking positive global cues
The momentum continued on the back of optimistic US-Mexico trade agreement
The broader market indices exhibited mixed trend where ‘BSE Midcap’ ended with losses of 0.4 per cent while ‘BSE Smallcap’, gained
0.4 per cent", said Jayant Manglik, President, Religare Broking.
With indices trading at record highs, some profit taking cannot be ruled
In the near term, market participants would keep close watch on macro data (GDP data), global developments and currency movement as it would
provide further direction to the market, Manglink added as a word of caution for the investors.
