Domestic Stock Indices hit their record highs despite the noon trade being lacklustre. At the closing bell, the BSE Sensex gained 194 points, or 0.24 percent, to close at 82,560. The NSE Nifty rose 43 points, or 0.17 percent, to close at 25,279. In NSE, 183 Companies hit their 52 week high, 22 hit their 52 week low.
In the broader market at the BSE, the Mid-Cap Index ended flat, while the Small-cap index lost nearly half a percent. In the Sensex index, 18 out of 30 Companies registered gains. The top gainers today were, Bajaj Finserve, Bajaj Finance and HCL Tech rose above 3 percent and ITC and IndusInd Bank gained more than 1 and half percent.
Conversely, the Major laggards were, NTPC and Tata Motors fell more than one and half percent, Mahendra and Mahendra and Bharti Airtel lost 1 percent and, Powergrid shed more than half a percent. In Sectoral Indices at the BSE, 7 out of 20 Sectors logged gain. The top gainers were, FMCG more than 0.7 percent, Financial Services and Utilities more than half a percent.
Conversely, the major laggards were, Telecommunication more than 1 and half percent, Metal more than 1 percent and Industrials and Capital Goods nearly 1 percent. The overall market breadth at the BSE was negative, out of 4187 Companies, shares of 1776 Companies advanced, 2262 declined and 149 remain unchanged.
In a 13-day gaining streak since August 14, the Nifty has rallied 4.72 per cent or nearly 1,140 points. Sensex has risen by 2.65 per cent or 2,135.16 points in its 10 straight days of gains.
Expectations of an interest rate cut by the US Federal Reserve this month and renewed foreign fund inflows have fuelled the recent rally in domestic equities, traders said.
FMCG, IT and financial sector shares supported the record run in indices while metal and pharma sector shares ended in the red.
Among the 30 Sensex firms, Bajaj Finserv, Bajaj Finance, HCL Tech, IndusInd Bank, ITC, UltraTech Cement, Axis Bank and Infosys were the biggest gainers.
On the other hand, Tata Motors, NTPC, Mahindra & Mahindra, Bharti Airtel, Larsen & Toubro and Power Grid were among the laggards.
“Nifty ended on a positive note on Monday extending gains for the 13th consecutive session, its longest run in decades,” said Deepak Jasani, Head of Retail Research, HDFC Securities.