nifty up
Breaking News Business Header Slider Headline News

Nifty gets new high of 10,800 for the first time

Nifty gets new high of 10,800 for the first time

NSE benchmark Nifty registered modest gains despite late volatility and advanced by 28.45 points to 10,817 — a fresh record closing high on sustained buying mainly in FMCG, bank Nifty and finance service sectors.

Gains were triggered by reports indicating that the government is mulling a proposal to hike foreign direct investment (FDI) limit in the banking sector on the back of positive global cues amid sustained FII inflows, taking the key indices intra-day record highs, underpinned sentiment.

However, heavy selling pressure during fag-end trade mainly in metal, realty, PSU bank, infra, pharma and energy stocks capped the gains.

Overseas, Asian and European stocks nudged higher amid optimism over global growth prospects. US stocks rose to fresh highs yesterday, as companies continued to indicate the tax overhaul will boost earnings this year.

The Nifty advanced 28.45 points, or 0.26 per cent, to end at 10,817, a new fresh record closing high. The index gained 98.95 points or 0.92 per cent at the day’s new high 10,887.50.

The index fell 6.15 points, or 0.06 per cent at the day’s low of 10,782.40. It saw an intra-day movement of about 105.10 points.

On the sectoral front, realty dropped by 3.92 per cent, metal 2.89 per cent, PSU bank 1.61 per cent, media 1.34 per cent, infra 1.52 per cent, pharma 1.21 per cent, energy 1.04 per cent, and auto 0.26 per cent.

On the other hand, FMCG climbed 1.12 per cent, finance service 1.05 per cent, private bank 1.08 per cent, bank 0.94 per cent and IT 0.31 per cent.

Major Index gainers were ITC, Indiabulls Housing Finance, HDFC Bank, UPL, HDFC, Kotak Bank, M&M, IndusIndBank and TCS.

Losers included InfraTel, Hindalco, Adaniports, Tata Steel, Ultratech Cement, Bajaj Finance and Hindustan Petroleum.

The market breadth, indicating its overall health, was in favour of losers. On the NSE, 331 stocks advanced, 1,502 declined and 42 remained unchanged.

Total securities that hit their price bands were 258.

Turnover in the cash segment rose to Rs 42,553.66 crore from Rs 38,740.38 crore on Wednesday.

A total of 23,365.75 lakh shares changed hands in 13,503,667 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,51,39,614.90 crore.