It’s a record high start on D-Street, bulls give the charge!

Nifty soars above 11,550 led by IT gains

Mumbai.

Equities are off to a record high start on Tuesday, following the rally on Monday. There is buying seen among all sectors, with banks being one of the top gainers. This is followed by IT, auto, pharamceuticals and metals, among others. The midcap index is also trading in the green.

The Sensex is up 77.31 points or 0.20% at 38356.06, while the Nifty is up 26.70 points or 0.23% at 11578.50. The market breadth is positive as 405 shares advanced, against a decline of 140 shares , while 51 shares are unchanged.

Among stocks, ONGC, Vedanta, HCL Tech and Tech Mahindra are the top gainers, while Airtel, Power Grid, and ICICI Bank are the top losers.

The Indian rupee, too, opened higher by 17 at 69.65 per dollar on Tuesday versus previous close at 69.82.

The dollar-rupee August contract on the NSE was at 69.86 in the previous session. August contract open interest declined 7.19% in the previous session, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

The rupee made a strong comeback in Monday’s trading session as it ended higher by 33 paise at 69.82 against Thursday’s close of 70.15.

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