Nifty hits another closing high

The NSE benchmark Nifty advanced to fresh record highs but trimmed gains to end marginally up by 19 points to 11,570.90, a new closing peak following bouts of buying in pharma, media, IT, energy and infra sectors amid mixed cues from global markets.

A weak rupee also boosted tech stocks during the day. In the case of broader markets, midcap indices ended the day with minor gains.

On the other hand, selling in reality, metal, FMCG and banking stocks capped further gains.

In global markets, European stocks rose with the US equity futures, tracking gains by most Asian shares. The dollar dropped and treasuries edged lower after US President Donald Trump criticised the Federal Reserve rate hikes and accused China and Europe of currency manipulation.

The Nifty 50 index rose 19.15 points, or 0.17 percent, to end at 11,570.90, its record closing high. The index hit high of 11,581.75 in intraday trade, its record high.

The index hit low of 11,539.60 in intraday trade.

It saw an intra-day movement of about 42.15 points.

On the sectoral front, pharma surged by 1.54 percent followed by media 1.22 percent, IT 0.92 percent, energy 0.66 percent and Infra 0.20 percent.

However, realty fell by 1.80 percent, metal 0.34 percent, FMCG 0.23 percent, PSU bank 0.21 percent, auto 0.17 percent, bank 0.06 percent, private bank 0.05 percent and financial service 0.02 percent.

Major index gainers were UPL, Tech Mahindra, Coal India, Lupin, Grasim, Axis Bank, Dr. Reddy, HCL Tech and Zeel.

Losers were Tata Steel, BPCL, Vedanta, Hindustan Unilever, Mahindra & Mahindra, Indiabulls Housing Finance, Kotak, and Titan.

The market breadth, indicating its overall health, turned losers.

On the NSE, 893 stocks advanced, 928 declined and 82 remained unchanged.

Total securities that hit their price bands were 229.

Turnover in the cash segment rose to Rs 33,006.87 crore from Rs 31,955.36 crore as on Monday.

A total of 15,501.98 lakh shares changed hands in 1,14,19,479 trades. The market capitalization of listed firms on the NSE stood at Rs 1,54,90,887.72 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)