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Nifty make new record to close above 9,800 for the first time

LiveMint logoLiveMint 12-07-2017 PTI

Mumbai: Benchmark Nifty rose for the third straight day to close at a fresh lifetime high of 9.816.10 following sustained buying in bank, energy, media, infra and metal counters on the back of higher global cues. Overseas, European stocks were trading higher led by gains in energy shares and miners.

Asian stocks were mixed as investors looked ahead to US Federal Reserve Chair Janet Yellen’s comments. The US stock market remained resilient Tuesday, with the Nasdaq extending its winning streak to a third session as political developments dominated the news cycle.

The NSE 50-share Nifty index opened above the 9,800-mark at 9,807.30 and moved in a range of 9,824.95 and 9,787.70 before ending at 9,816.10, up 30.05 points, or 0.31 percent.

It saw an intra-day movement of about 37.25 points. Broader markets bounced back sharply from yesterday’s losses. The Nifty Midcap and Smallcap indices rose by 0.69% and 0.95%, respectively. Sector-wise, PSU Bank rose 1.34%, Energy 1.30%, Media (0.65%), Infra (0.54%), Bank (0.47%), Private Bank (0.40%), Finance Service (0.39%) and (Metal 0.38%).

Nifty IT was the only loser among sectoral indices, down 0.27% ahead of June quarter earnings. Major index gainers were ACC (3.34%), Bharti Infratel (2.55%), Ambuja Cement (2.29%), Indiabulls Housing Finance (2.08%), HUL (2.28%), ONGC (1.81%), ICICI Bank (1.61%) and SBI (1.50%). Losers included TCS 1.47%, M&M 0.97%, Hero MotoCorp 0.79%, Aurobindo Pharma 0.75%, ITC 0.47%, Coal India 0.39% and Dr Reddy’s 0.31%.

A total of 980 scrips advanced, 705 declined while 89 remained unchanged. Total securities that hit their price bands were 112. Turnover in the cash segment fell to 25,076.90 crore from Rs 26,457.91 crore yesterday. A total of 15,050.39 lakh shares changed hands in 9,414,760 trades.

The market capitalisation of listed firms on the NSE stood at Rs 12,850,816.19 crore.

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