Touching new heights, the Sensex on Tuesday rose by nearly 91 points to close at a fresh lifetime high of 83,079.66, while the Nifty settled above the 25,400 level for the first time in a range-bound trade. The record rise comes amid firm global trends ahead of the much-awaited US Fed's decision on interest rates.
It is for the second consecutive day that Sensex has hit new records while closing. The 30-share BSE Sensex climbed 90.88 points or 0.11 per cent to settle at a lifetime high of 83,079.66. It is for the first time that the key index has settled above the 83,000 level. During the day, it rose by 163.63 points or 0.19 per cent to 83,152.41, falling a bit till closing.
Meanwhile, the NSE Nifty gained 34.80 points or 0.14 per cent to settle for the first time above 25,400 at 25,418.55 - its record closing high.
Biggest gainers, laggers
Among 30 Sensex firms, Bharti Airtel, Kotak Mahindra Bank, NTPC, Mahindra & Mahindra, Titan, ICICI Bank, Larsen & Toubro, Bajaj Finance, Hindustan Unilever and Reliance Industries were the biggest gainers. Among biggest laggers were Tata Motors, Tata Steel, Adani Ports, JSW Steel, ITC and Asian Paints.
Vinod Nair, Head of Research, Geojit Financial Services reacted to the record-making gains and said, "The Indian market exhibited a subtle positive momentum, driven by the anticipation of a rate cut cycle by the US FED. Although a 25-bps cut is largely factored in, the market remains attuned to the FED's comments on the health of the economy and the future trajectory of rate cuts."
Regarding Nifty, Ajit Mishra – SVP, Research, Religare Broking Ltd said that after a flat opening, the Nifty moved within a narrow range with realty and auto shares witnessing gains while metal and pharma ended in the red.
Retail inflation falls for second month
Meanwhile, in a big relief, wholesale inflation fell for the second consecutive month to 1.31 per cent in August due to cheaper vegetables, food and fuel, government data released on Tuesday showed.
(With PTI Inputs)
