Superior macro data and in-line June quarter numbers have given hopes to investors but weak global cues kept the gains in check. Volatility indicator, India Vix, eased further.
The 30-share pack Sensex climbed 123.07 points or 0.23 per cent to close at 54,492.84. Its broader peer NSE Nifty advanced 35.80 points or 0.22 per cent to 16,294.60. Both indices closed at record high levels.
“Banking stocks continued to be under pressure ahead of the RBI’s policy announcement. Importantly, the broad market has started to underperform. Investors should be cautious in the short-term regarding the performance of mid & small caps after the thrilling rally during the year,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Vodafone Idea falls 1 per cent after KM Birla steps down as Chairman
- Bharti Airtel hits fresh record high as Voda crisis deepens
- Nava Bharat Venture tanks 13 per cent after a poor performance in June quarter
- Zomato falls 2 per cent as HSBC Securities sees 19 per cent downside
- IPO watch: Windlas Biotech gets 6x bids, Exxaro 9x, Krsnaa 4x and Devyani 6x
Among the blue-chip names, Bharti Airtel was the top gainer for the second day, rising 3.86 per cent. Eicher Motors, ITC, Tech Mahindra, Tata Steel, HCL Tech, Tata Consumer, and were other gainers.
SBI was the top loser in the Nifty pack, falling 3.28 per cent. IndusInd Bank, ICICI Bank, Bajaj Finance, Bajaj Finserv, NTPC, UPL, Grasim Industries and UltraTech Cement were others that ended in the red.
Broader market indices ended mixed, underperforming their headline peers. Nifty Smallcap fell 0.57 per cent and Nifty Midcap added 0.01 per cent. Nifty 500, the broadest index on NSE, ended up 0.09 per cent.
Caplin Point Laboratories, Sun Pharma Advanced Research,
, Chola Finance, SAIL and Laurus Labs were top gainers from mid and smallcap indices, climbing in the range of 3-7 per cent.
Vakrangee, Trident, Edelweiss Financial Services, Dhani Services, Dalmia Bharat and IDFC First Bank were major losers from broader market space, falling in the range of 4-6 per cent.
Sectoral matrix was mixed on NSE. Nifty Metal climbed 1.29 per cent, followed by Nifty IT that added 0.76 per cent. Nifty PSU Bank was the top loser, down 2.23 per cent, followed by Nifty Media.
Market breadth was in favour of losers as 1,205 stocks ended in the green, while 2,021 names settled with cuts. As many as 305 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 14 names hit 52-week lows, mostly from the microcap space. About 300 stocks hit upper circuit limits and 400 lower circuit limits.
European markets were trading mixed. London-based FTSE was down 0.02 per cent while Paris and Frankfurt advanced 0.45 per cent and 0.13 per cent, respectively. In Asia, barring Indonesia and Japan that registered gains, all markets ended in the red.
