Sensex, Nifty End At Fresh Record Closing Highs

Indian equity benchmarks closed trade at fresh record high as investors piled on bullish bets on lack of any meaningful concern.

The S&P BSE Sensex climbed nearly 1 percent to 29,910 – a record closing for the 30-share index. It is now just 114 points away from its all-time high of 30,024 it made same period two years ago.

Not to be outdone, the NSE’s Nifty 50 index too clocked its best intraday as well as closing levels. The 50-share index gained 0.7 percent to 9,242 – a fresh record closing and 2 points shy from its intraday high.

All sectoral indices, barring the technology and telecom gauges, advanced on the BSE. The S&P BSE Capital Goods index gained nearly 3.5 percent, the most since May 2016, led by engineering giant Larsen and Toubro.

The market breadth was dominated by the bulls with three stocks advancing to every 1 stock that declined on the NSE.

Emami Infrastructure Trades Higher For Second-Straight Day

• Stocks gains as much as 17.6 percent on Monday
• Had gained 20 percent on Friday
• Volumes are at 14 times the previous 20-day average
• The real estate developer has a market cap of Rs 238 crore

Rising for the second straight session, gold prices inched up by another Rs 20 to Rs 29,270 per 10 grams. Silver fell however by Rs 250 to Rs 42,400 per kg due to reduced offtake by industrial units and coin makers.

Traders said increased buying by local jewellers at the domestic spot market to meet the ongoing "Navratra" demand kept gold prices higher but a weak trend overseas capped the rise.

Globally, gold fell by 0.31 per cent to Rs 1,245.30 an ounce and silver by 0.49 per cent to $18.13 an ounce in Singapore.

(PTI)