Sensex Closes Above 38,280 for First Time, Nifty Settles at 11,571

Major gainers in the Sensex pack were Coal India, Axis Bank, NTPC, Sun Pharma, Wipro and Reliance.

Domestic stock markets, settled today’s session on a positive note, posting fresh closing highs after touching life-highs earlier in the session.

The S&P BSE Sensex rose 7.00 points, or 0.02 per cent, to end at 38,285.75, surpassing its previous record closing of 38,278 marked on Monday.

Breaking it previous record closing of 11,551 hit on Monday, the NSE’s Nifty50 index climbed 19.15 points or 0.17 per cent to settle at 11,570.90.

Benchmark indices traded in green today amid renewed buying in pharmaceuticals and IT stocks. A strengthened rupee against the US dollar aided the key indices to arrest the slide today.

Major gainers in the Sensex pack were Coal India (+2.06%), Axis Bank (+1.92%), NTPC (+1.70%), Sun Pharma (+1.69%), Wipro (+1.48%) and Reliance (+0.94%). Reliance, Axis Bank, Sun Pharma majorly contributed to the gains in Sensex. UPL (+5.01%), Tech Mahindra (+2.99%), Coal India (+2.52%), Lupin (+2.29%) and Grasim (+2.27%) led the gains in Nifty.

Globally, a gauge of equity markets also rose on Monday on hopes that US-China trade talks this week will diffuse the dispute, while Turkey’s lira fell anew on cuts to the country’s credit ratings and after shots were fired outside the US Embassy in Ankara.

US President Donald Trump’s comments on manipulation of currencies by China and Europe ahead of the resumption of trade talks between US and China weighed on global investor sentiment, said traders.

On the other hand, top laggards on the BSE index were Yes Bank (-0.72%), Bharti Airtel (-0.72%), Mahindra & Mahindra (-1.12%), Vedanta (-1.17%), Hindustan Unilever (-1.30%) and Tata Steel (-2.86%). Prominent losers on NSE index were TTata Steel (-2.57%), BPCL (-1.77%), Vedanta (-1.35%), Hindustan Unilever (-1.33%) and Mahindra & Mahindra (-1.09%).

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net of Rs. 593.22 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs. 483.04 crore yesterday, provisional data showed.

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