On Tuesday, Bombay Stock Exchange (BSE) Sensex ended at a new record closing high of 53,823.36, 872.73 points or 1.65 per cent higher, led by Titan Company, HDFC, Nestle India, IndusInd Bank, Ultratech Cement, Bharti Airtel, SBI, Sun Pharma and HUL. However, the top index losers were Bajaj-Auto, Tata Steel and NTPC Limited.
As per Moneycontrol, 500 stocks like Jain Irrigation Systems, Trident, Suzlon Energy, Nahar Polyfilms, Nureca, Rushil Decor, PG Electroplast, Ansal Properties, Intense Technologies and Mindteck hit their upper circuits in intraday trade on the BSE today.
The Nifty50 reached a fresh peak of 16,126.65 on the National Stock Exchange (NSE), rising 246 points or 1.52 per cent. Nifty FMGC, Nifty Financial Services and Bank Nifty soared 1.73, 1.7 and 1.43 per cent respectively. Apart from Nifty Media and Nifty Metal indices, all sectoral indices ended in the green.
In the intra-day deals, BSE MidCap hit a new peak of 23,443 level while SmallCap reached a fresh level of 27,232.
According to Moneycontrol, Gaurav Garg of CapitalVia Global Research said, “We have witnessed the breach of 15,950 level and sustaining above 15,950, we expect the market to gain momentum, leading to an upside projection till 16,100-16,150 levels.”
The Head of Technical Research at CapitalVia Research told Financial Express that the momentum indicators such as RSI and MACD were required to stay positive and the market breadth to improve along with further strengthening a short-term bullish outlook.