Mkts hit another fresh record high
Sensex, Nifty hit all-time closing high levels on gains in auto, FMCG shares; Mcap on BSE at record high of Rs451.27 lakh cr or $5.41 trn
image for illustrative purpose
![Mkts hit another fresh record high Mkts hit another fresh record high](https://www.bizzbuzz.news/h-upload/2024/07/10/1925907-markets.webp)
Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and Kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction. Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment, said Vinod Nair, head (research), Geojit Financial Services
FMCG, Auto Stocks Hog Limelight:
- Both domestic, global factors drive mkt momentum
- BSE Sensex climbed 391.26 pts or 0.49% to new closing peak of 80,351.64
- During the day, Sensex jumped 436.79 pts or 0.54% to new lifetime high of 80,397.17
- NSE Nifty went up by 112.65 pts or 0.46% to fresh peak of 24,433.20 pts
- During the day, Nifty surged 123.05 pts or 0.50% to hit a new intra-day record peak of 24,443.60
- FIIs bought equities worth Rs60.98 cr on Monday
- Maruti, M&M, Titan, Sun Pharma, ITC, Nestle and Tata Motors were gainers
- RIL, Kotak Mahindra Bank, Bajaj Finance and JSW Steel were among laggards
Mumbai: Benchmark indices Sensex and Nifty rebounded on Tuesday, hitting their fresh record closing levels on the back of gains in auto and FMCG shares and foreign fund inflows. The 30-share BSE Sensex climbed 391.26 points or 0.49 per cent to settle at a new closing peak of 80,351.64. During the day, it jumped 436.79 points or 0.54 per cent to hit a new lifetime high of 80,397.17. NSE Nifty went up by 112.65 points or 0.46 per cent to 24,433.20 points, its record closing high. During the day, it surged 123.05 points or 0.50 per cent to hit a new record peak of 24,443.60.
The market capitalisation (mcap) of BSE-listed firms on Tuesday hit a fresh lifetime high of Rs 451.27 lakh crore ($5.41 trillion).
“Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and Kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction. Additionally, continuous positive FII inflow contributes to the prevailing positive sentiment,” said Vinod Nair, head (research), Geojit Financial Services.
A total of 2,010 stocks advanced, while 1,924 declined and 92 remained unchanged on the BSE. Also, 320 stocks hit their upper circuit limit, while 242 firms hit the lower circuit levels.
In the broader market, the BSE midcap gauge climbed 0.36 per cent and smallcap index went up by 0.22 per cent. Among the indices, auto jumped 2.17 per cent. Consumer durables (2.01 per cent), realty (1.23 per cent), consumer discretionary (1.21 per cent), healthcare (1 per cent) and utilities (0.76 per cent) also closed higher. Telecommunication, capital goods and teck were the laggards.
Among Sensex shares, Maruti Suzuki India jumped over 6 per cent amid reports that the UP government waived registration taxes on hybrid cars as part of its initiative to promote environmentally friendly vehicles in the state. Mahindra & Mahindra, Titan, Sun Pharma, ITC, Nestle and Tata Motors were the other big gainers. Reliance Industries, Kotak Mahindra Bank, Bajaj Finance and JSW Steel were among the laggard.
In Asian markets, Seoul, Tokyo and Shanghai settled higher, while Hong Kong ended lower. European markets were trading mostly lower. US markets ended mostly higher on Monday.