Sensex Elevates For 9th Straight Session, Nifty Closes At An All-Time High

On Wednesday, the Benchmark Sensex climbed for a ninth consecutive session, while Nifty concluded above the 20,000 mark for the first time, as favorable macroeconomic data prompted buying in banking, energy, and telecom stocks.

In day trading, the 30-share BSE Sensex recovered from early lows to trade near its all-time high of 67,565.41. The barometer closed at 67,466.99, an increase of 245.86 points or 0.37 percent. As many as 20 Sensex stocks finished in the green while 10 plummeted.

The broader Nifty ended above the 20,000 mark for the first time, rising 76.80 points or 0.38 percent to 20,070, its all-time high. Thirty-one Nifty shares closed higher, while 19 closed lower.

Bharti Airtel surged the most among Sensex companies, up 2.72 percent. Among the major gainers were Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC, and Tata Motors.

The major laggards were Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti.

Retail inflation fell to 6.83 percent in August after reaching a 15-month high of 7.44 percent in July, owing primarily to lower vegetables costs, but it remains beyond the Reserve Bank’s comfort zone.

According to official data released on Tuesday, India’s industrial production growth reached a five-month high of 5.7 percent in July, owing primarily to strong performances in the manufacturing, mining, and power sectors.

In Asian markets, Seoul, Shanghai, and Hong Kong concluded lower, while Tokyo closed higher.

European equities were falling. On Tuesday, the US markets closed in the red.

Brent crude rose 0.66 percent to USD 92.56 a barrel.

According to the exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 1,047.19 crore on Tuesday following a day’s rest.

On Tuesday, the BSE benchmark rose 94.05 points, or 0.14 percent, to 67,221.13. In a turbulent trading, the Nifty lost all of its gain and finished 3.15 points or 0.02 percent, lower at 19,993.20.

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