Stock indices end at record high
Stock indices closed at record high as the 50-share Nifty closed above the psychological barrier of 8000-mark on Monday on the back of better gross domestic product (GDP) numbers.
The benchmark 30-share Sensitive Index (Sensex) surged by 229.44 points or 0.86 per cent to close at record high of 26867.55.
The GDP data, which came out on Friday, indicated that the economy had grown by 5.7 per cent in April-June quarter as compared to 4.6 per cent rise in the preceding quarter. Markets witnessed a broad-based rally. Among the broader indices, BSE 100, BSE 200 and BSE 500 gained 1.23 per cent each. While mid cap stocks gained 1.57 per cent, small-cap stocks were up by 1.30 per cent. The metal index on the BSE gained the most with 2.79 per cent followed by capital goods 2.75 per cent, realty 2.72 per cent, power 2.60 per cent and banks 1.79 per cent. However, FMCG was the lone loser on BSE with a fall of 0.67 per cent.
On the National Stock Exchange (NSE), the 50-share Nifty closed at 8027.70 with a gain of 73.35 points or 0.92 per cent. “The market opened up with a huge gap on the back of better annual GDP numbers,” said Shrikant Chouhan, Head-Technical Research, Kotak Securities.
“Auto, metal, power, infra and banks did well. Technically, the Nifty has next major hurdle between 8050 and 8060. Any strong reversal from these will be negative for the Nifty in the short term as in that case it may even fall to 7970 again,” he said.