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The Sensex and Nifty edged higher to a record close for a third consecutive session on Tuesday, helped by gains in energy shares such as Reliance Industries Ltd and Coal India Ltd.
Domestic sentiment was buoyed as direct tax collections grew 18.2 per cent to Rs 6.56 lakh crore between April and December 2017.
The 50-share NSE index Nifty closed higher by 13.4 points or 0.13 per cent at 10,637, while the benchmark BSE index ended up by 90.4 points or 0.26 per cent at 34,443.19. Reliance Industries ended up 1.3 percent, its sixth straight session of gains, while Coal India closed 5.8 per cent higher.
Among BSE sectoral indices, realty index gained the most by 2.88 per cent, followed by consumer durables 0.81 per cent, FMCG 0.45 per cent and IT 0.32 per cent. On the other hand, power index fell 0.34 per cent, followed by healthcare 0.63 per cent, auto 0.39 per cent and capital goods 0.36 per cent.
Top five Sensex gainers were Coal India (+5.63%), YES Bank (+2.31%), Wipro (+2.11%), ITC (+1.94%) and Reliance (+1.34%), while the major losers were Bharti Airtel (-1.18%), Adani Ports (-1.13%), Hero MotoCorp (-0.91%), Sun Pharma (-0.86%) and NTPC (-0.73%).
Shares of iron ore miner NMDC Ltd dropped as much as 4.8 per cent to Rs 154.10 as the company's offer-for-sale (OFS) by the Central Government opened for subscription on Tuesday for non-retail investors.
Coal India soared 7.7 per cent after its board approved a hike in the prices of non-coking coal for power and non-power sectors with immediate effect. The price hike would boost its revenue by Rs 1,956 crore in the remaining part of the 2017-18 fiscal.
Shares of Tata Motors gained on record Jaguar Land Rover global sales in 2017. The stock jumped as much as 2.2 per cent to Rs 443, highest since November 9. Jaguar Land Rover's sales rose 7 per cent to a record 621,109 vehicles in 2017.
Among the gainers, energy shares advanced the most, with Nifty energy index rising as much as 0.8 per cent. Coal India shares gained 7.7 percent and Reliance Industries Ltd rose 1.7 per cent. ITC Ltd rose 2.4 per cent and was among the top contributors to the index gains.
Union Budget
Finance Minister Arun Jaitley is expected to present the federal budget for the 2018/19 financial year on February 1, amid investor concerns that the government could unveil some populist measures with heavier spending than this year.
“Markets are flattish as there is some volatility due to expectations around budget, corporate results which are starting soon and the global markets,” said Vinod Nair, Head of Research at Geojit Financial Services.
Broadly, the trend is still very positive, he said.
Early trade
Rising for the third straight day, the 30-share index spurted 134.73 points or 0.39 per cent to hit a new peak of 34,487.52. The gauge gained 559.41 points in previous three sessions to close at a record high at 34,352.79 in yesterday’s session.It had also touched an intra-day lifetime high of 34,385.67 in the previous session.
The 50-share NSE Nifty gained 35.55 points or 0.33 per cent to scale its lifetime high of 10,659.15. The gauge had touched an intraday high of 10,631.20 yesterday.
As per provisional exchange data, foreign portfolio investors (FPIs) bought shares worth Rs 692.83 crore, while domestic institutional investors (DIIs) sold shares worth Rs 206.30 crore yesterday.
Asian shares
Asian shares edged higher on Tuesday, approaching record highs after the S&P 500 extended its winning streak, while the dollar steadied against its major counterparts. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 per cent at 590.23, not far from its record peak of 591.50 scaled in November 2007.
On the Wall Street on Monday, the Dow Jones Industrial Average edged down 0.05 per cent, the S&P 500 gained 0.17 per cent, and the Nasdaq Composite added 0.29 per cent. After the best start to a year in more than a decade, investors turned cautious ahead of earnings. Japan's Nikkei stock index rose 0.8 per cent to its highest levels since November 1991, catching up to the previous session's gains as markets reopened after a holiday on Monday.
(With inputs from Agencies)
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