Nifty, Sensex Hit Fresh Highs For Sixth Day As Maruti Suzuki, Tata Steel Gain Sharply: Midday Market Update

The NSE Nifty 50 and BSE Sensex rose to fresh highs for sixth consecutive session on Thursday tracking gains in shares of Maruti Suzuki India Ltd., and Tata Steel Ltd. and others. As of 12:40 p.m., the Nifty 50 was trading 0.34% higher at 26,093.50, and Sensex was 0.34% higher at 85,467.57.

So far today, the Nifty 50 rose 0.41% to a fresh high of 26,111.40, and the Sensex rose 0.42% to a fresh high of 85,167.56.

"The hourly average support is placed at 25,675 levels which would be a key support from current levels. RSI is trending above the higher range and any news flow could witness some volatility in index pivotal from current levels. The Highest call open interest has moved higher to 26,200 strikes while the downside the highest put OI is at 25,800 for the monthly expiry," said Vikas Jain, head, Research at Reliance Securities.

The NSE Nifty Bank also scaled a fresh high of 54,262.40 after rising 0.30% during the day. State Bank of India and Kotak Mahindra Bank Ltd. were the top contributor to the index.

Maruti Suzuki India Ltd., Tata Motors Ltd., Infosys Ltd., ITC Ltd., and Reliance Industries Ltd. added to the Nifty 50.

Oil and Natural Gas Corp, Bharti Airtel Ltd., Larsen & Toubro Ltd., Cipla Ltd., and Hero MotoCorp Ltd. limited gains in the index.

On the NSE, eight sectors advanced, four declined out of 12. The NSE Nifty Metal rose the most, and the NSE Nifty Realty declined the most.

The NSE Nifty Auto and NSE Financial Services index rose to fresh highs earlier in the day.

Broader markets underperformed benchmark indices. The BSE Midcap and BSE Smallcap indices were trading 0.55% and 0.34% lower, respectively.

On BSE, 10 sectors declined out of 20, and 10 advanced. The BSE Consumer Durables declined the most, and the BSE Metal rose the most.

Market breadth was skewed in favour of sellers. Around 2,164 stocks declined, and 1,164 stocks rose, and 133 remained unchanged on BSE.