Sensex, Nifty End at Record Closing High Led by Banking Stocks
The Indian equity indices closed at record highs on Tuesday, 16 April, led by banking stocks like IndusInd Bank and ICICI Bank as investors weighed on earnings growth and election outcome, reported BloombergQuint.
The BSE Sensex ended at a new closing high of 39,275, up 370 points, while the broader NSE Nifty50 settled at record closing high of at 11,787, adding 97 points. Both the indices previously ended at record highs on 2 April.
In intra-day deals, the S&P BSE Sensex gained as much as 458 points to hit new high of 39,364, surpassing previous high of 29,270, hit on 3 April. Similarly, the Nifty50 index rose 120 points to hit record high of 11,810.95, surpassing previous high of 11,761 hit on 3 April, reported CNBC-TV18.
The market breadth was tilted in favour of buyers. About 883 stocks advanced and 846 shares declined on the National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Bank Index's 1.5 percent gain. On the flip side, the NSE Nifty Media Index was the top sectoral loser, down 1.16 percent.
Indusind Bank, ICICI bank, Titan, ONGC and Grasim were the top NIfty gainers, while Wipro, Cipla, GAIL, Infosys and Tata Motors were the top losers.
(With inputs from BloombergQuint and CNBC-TV18.)