Stocks

Sensex up 268 points, Nifty above 15,800 after recording fresh all-time highs

Our Bureau Mumbai | Updated on June 15, 2021

Sharebrokers and holders check the Sensex and Nifty at a Share market in Kolkata (file photo)   -  PTI

Pharma stocks under pressure, financials in focus

The BSE Sensex and the Nifty50 scaled yet another new peak on Tuesday on sustained buying.

Bulls maintained the grip on Tuesday too as the market, after opening firm, rallied further, led heavyweights such as Reliance, HDFC and a sharp recovery in financials. Declining Covid-19 cases and gradual unlocking by states lifted investor sentiments.

At 1 pm, the BSE Sensex that breached the 52,800-mark to record a new all-time high at 52869.51 was ruling at 52,820.07, up 268.54 points or 0.51 per cent. It touched an intra-day low of 52,671.29.

The Nifty 50 scaled new peak, breaching the 15,900-mark with a fresh all-time high of 15,901.60. It was trading at 15,888.65, up 76.80 points or 0.49 per cent. It hit an intra-day low of 15,842.40.

Also read: Indian shares at record highs as Covid curbs ease, cases fall

Asain Paints, Axis Bank, ONGC, Eicher Motors and IndusInd Bank were the top gainers on the Nifty 50 while Divi’s Labs, Coal India, Cipla, Bajaj Finserv and Powergrid were the top laggards.

Gaurav Garg, Head of Research, CapitalVia Global Research Ltd said, “Led by buying in some heavyweight stocks in early trade, Indian equity benchmarks stayed positive. The S&P 500 and the Dow fell on June 14, a day after the S&P 500 set a new closing high, as investors awaited the Federal Reserve’s meeting this week for clues on the central bank’s inflation outlook and the future of asset purchases. Asian markets were trading in green following the overall positive sentiments in the market.”

Pharma under pressure, financials rebound

On the sectoral front, all indices except pharma were in the green. Financials recovered sharply. Metals and Realty also gained. Nifty Pharma was down 0.52 per cent.

Sensex jumps over 220 points in early trade; Nifty tops 15,850

Meanwhile, Nifty Bank was up 0.88 per cent while Nifty Financial Services was up 0.55 per cent Nifty Private Bank and Nifty PSU Bank were up 1.06 per cent and 0.34 per cent, respectively. Nifty Metal was trading 0.65 per cent higher. Nifty Realty was up 0.99 per cent.

Broader indices

All broader indices were also in the green. Nifty Midcap 50 was up 0.87 per cent while Nifty Smallcap 50 was up 0.53 per cent. The S&P BSE Midcap and the S&P BSE Smallcap were up by 0.73 per cent each. Notably, the volatility index softened 1.44 per cent to 14.50.

Published on June 15, 2021

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