Sensex, Nifty mark at record closing high for second consecutive session

Indian stock markets ruled at the baseline level after a strong opening, with capital goods and financials proving to be a big drag. Profit-booking kicked in for realty and power sectors in spite of positive Asian shares. Investors are on the look out of the announcement of RBI monetary policy meeting, which commences on Tuesday, together with a slew of earnings numbers. 

The Sensex reached higher at 32,575.17 on closing, up 60.23 points, or 0.19%. The broader Nifty went up by 37.55 points, or 0.37%, at 10,114.65. About 1046 shares advanced and 1627 shares declined, while 165 shares were unchanged. The BSE MidCap index rose 0.45%, outperforming the Sensex, whereas BSE SmallCap index declined 0.12%, underperforming the Sensex. 

Auto stocks ruled high gaining the most with Eicher Motors, Maruti Suzuki and Hero MotoCorp, while ONGC, Lupin and Bank of Baroda lost the most on both indices. 

Asian markets mostly gained on rising confidence in global growth. Growth in China’s manufacturing quickened in July, since output and new orders rose at the fastest level since February on strong export sales.

Posted in: Indian Market Tips