Sensex, Nifty hit record high levels for first time ever

The key benchmark indices Sensex and Nifty surged on broad-based buying support. On closing, the BSE Sensex, up 278.18 points or 0.90 percent to 31,028.21, while the Nifty-50 rose 85.35 points or 0.90 percent to 9,595.10. The both indices hit their respective record high levels in late trade. The broader, BSE Mid-Cap rose 2.06 percent and the Small-Cap index rose 1.60 percent, both these indices outperformed the BSE Sensex.

Stocks of private sector banks, metals and auto stocks were the Nifty gainers, while pharma stocks continued to bleed on the back of sluggish outlook. HPCL and ITC gained on the back of positive earnings, while large caps like Reliance Industries contributed majorly to the market’s gain.

ITC rose 2.14% to Rs 306.10 after company’s net profit jumped 12.13% to Rs 2,669.47 cr. Reliance Industries surged 2.69% to Rs 1,338, hitting a high of and low of Rs 1,344 and Rs 1,301, respectively.

Sun Pharm lost 4.44% to Rs 565.55, while Metal shares rose. Jindal Steel & Power went up 5.57%, Tata Steel rose 5.57% Vedanta jumped 4.32%, Steel Authority of India went up 3.68% among others.

Asian stocks ended on a mixed note and most European stocks were trading lower as a slouch in crude prices spoiled global risk appetite.