E-Paper
BSE Sensex, Nifty hit new all time high in major gains in IT stocks
Sensex today: Sensex was up 200 points at 77,187 at about 9:20 am and Nifty was up 70 points at 23,534.
Sensex today: Benchmark Indices Sensex and Nifty hit fresh record highs in early trade today (June 18). The indices extended gains and rose 0.25 per cent each owing to major gains in Metal stocks index, PSU banks index and IT index while Healthcare and Pharma sectoral indices dragged.
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Sensex was up 200 points at 77,187 at about 9:20 am and Nifty was up 70 points at 23,534. About 2,193 shares advanced, 734 shares declined, and 156 shares unchanged. Midcap and smallcap index also rose 0.3 per cent and 0.8 per cent, respectively. Of the 13 sectoral indices on NSE, only 3 indices were trading in the red today.
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On Nifty, Wipro, Adani Enterprises, M&M, Titan Company and Adani Ports were the top gainers while top losers were Maruti Suzuki, Dr Reddy's, Divis Laboratories, Kotak Mahindra Bank and SBI Life Insurance.
In the commodity market, Gold slid 0.5 per cent to USD 2320/ounce as traders look for signs from US policymakers and economic data that could shed light on the timing of Federal Reserve interest rate cuts.
The Brent crude gained 2 per cent to a 1-month high above USD 84/bbl (Barrel) on the hope of rising global demand and OPEC agreed to extend supply cuts.
Expert view
Ajay Bagga, Banking and Market Expert said, "The two big looking triggers are the complexion of the 100-day priorities of the new government and the Union Budget measures. The two big political developments will be the choice of the Speaker of the lower house of parliament, the Lok Sabha and the announcement of the BJP President. PSU companies, banks, capital goods, infrastructure, railways, defence stocks remain the preferred bets in the Indian markets".
