Stock market closes near all-time high; Nifty at 24,951

Mumbai, July 31: Indian equity indices closed near an all-time high on Wednesday following positive action in the broader market.

At closing, the Sensex was at 81,741, up 285 points or 0.35 per cent, and the Nifty was at 24,951, up 93 points or 0.38 per cent.

The all-time highs of Sensex and Nifty are 81,908 and 24,999 respectively.

On the Bombay Stock Exchange (BSE), 2,132 shares closed in the green, 1,820 shares in the red and 84 shares closed without any change.

In the Sensex pack, JSW Steel, Asian Paints, Maruti Suzuki, NTPC, Bharti Airtel, ITC and Kotak Mahindra Bank are the top gainers.

Tata Motors, Reliance, Infosys, M&M and Bajaj Finance are the top losers.

Among the sectoral indices, auto, IT, fin service, pharma, FMCG and metal were major gainers.

Realty and PSU banks were major laggards.

Rupak De, Senior Technical Analyst, LKP Securities, said, "Nifty remained strong throughout the day as put writers were seen shifting their positions to 24,900. A fresh leg of bullishness starts above 25,000, while support is placed at 24,900. If the index falls below this level, it might correct down towards 24,750."

"Positive global sentiment driven by expectations of an easing interest rate cycle by the FED and RBI in the medium term, owing to benign inflation, ignited the rally on Wednesday. As expected, the BoJ raised its interest rate while all eyes are on US FED policy," other market experts said.