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Benchmark indices scaled new peaks on Friday with th BSE Sensex and the NSE Nifty topping the 55,000-mark and the 16,500-mark respectively on positive economic data.
Bulls gained momentum in the first-half after the market opened on a positive note following mixed global cues. While the US market maintained its bull run, Asian bourses were mostly trading lower. The domestic market gained further, led by IT, FMCG and financials.
At 1 pm, the BSE Sensex was ruling near an all-time high of 55,362.89, at 55,301.09, up 457.11 points or 0.83 per cent. It hit an intra-day low of 54,905.49. The Nifty 50 was ruling at 16,491.50, up 127.10 points or 0.78 per cent. It also recorded a fresh high of 16,507.35 and a day's low of 16,376.30.
Tata Consumer, TCS, L&T, HCL Tech and Wipro were the top gainers on the Nifty 50, while Eicher Motors, Tata Steel, JSW Steel, Bajaj Finance and NTPC were the top laggards.
Market sentiments were lifted following the latest CPI inflation data.
After two consecutive 6 per cent+ prints, CPI inflation eased to 5.59 per cent on July 21, while core inflation (ex-food, fuel and intoxicants) also eased to 5.86 per cent from 6.2 per cent. With inflation rates within RBI's tolerance band, it will help the central bank to continue its soft monetary policy stance for the next few quarters, aiding earnings, according to analysts.
However, investors must remain cautious and need to see the continuity of this trend, they added.
Metal, pharma, realty under pressure
On the sectoral front, indices were trading mixed.
While IT, FMCG, and financials, excluding PSU Bank, recorded gains, metals, pharma and realty remained under pressure.
Nifty IT was up 1.67 per cent. Nifty FMCG and Nifty Consumer Durables were up 0.77 per cent and 0.59 per cent, respectively. Nifty Bank was up 0.42 per cent, while Nifty Financial Services was up 0.47 per cent.
Meanwhile Nifty Metal was down 0.88 per cent. Nifty Pharma was down 0.51 per cent. while the Nifty Healthcare Index was down 0.50 per cent. Nifty Realty was down 0.63 per cent.
Broader indices
The broader indices were in the red.
The Nifty Midcap 50 was down 0.45 per cent, while the Nifty Smallcap 50 was down 0.25 per cent. The S&P BSE Midcap was up 0.08 per cent, while the S&P BSE Smallcap was up 0.31 per cent.
The volatility index rose 5.01 per cent to 12.99 .
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