Sensex, Nifty touch new highs but end flat under selling pressure

Benchmark indices opened on a strong note, continuing their strong show from yesterday but came under selling pressure in the last half hour of trade.

Indian benchmark indices made new lifetime highs during intraday trade today with the NSE Nifty 50 reaching 9,450.65 points for the first time ever and the BSE Sensex touching a new all-time high of 30,366.43 points. Both the indices also closed at record highs, with the Nifty ending the day at 9,422.40 points while Sensex ending at 30,366.43 points.

Market benchmark Sensex opened on a strong note, continuing its strong show from yesterday which was on the back of encouraging monsoon forecast in a heavily agriculture-dependent economy, and continued FII buying. However, in the last half hour of trade Sensex came under selling pressure and ended the day two points higher than its previous close. The 50-share NSE Nifty also dipped under selling pressure in the last half hour of trade and closed 12 points higher.

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A total of 14 scrips in the 30-share Sensex pack ended higher, while 16 scrips fell while on the 51-share Nifty, 29 scrips advanced while 22 scrips declined.

Major gainers on the Sensex were Hero Moto Corp. up 4.26% at Rs 3,463.80; Bajaj Auto up 3.12% at Rs 2,990.00; Adani Ports up 2.28% at Rs 358.95; SBI up 1.15% at Rs 298.00; ITC up 1.00% at Rs 276.65 and Sun Pharma up 0.93% at Rs 648.35.

Major losers were Bharti Airtel down 2.21% to Rs 364.45; Gas Authority of India Ltd down 2.14% at Rs 408.70; Oil and Natural Gas Corp. down 1.94% at Rs 184.20; Hindustan Unilever down 1.78% at Rs 978.15; Axis Bank down 1.69% at Rs 517.10 and National Thermal Power Corp. down 1.39% at Rs 160.00.

The total turnover on BSE amounted to Rs 4,031.10 crore, rising from Rs 3,625.49 crore registered during the previous trading session. Market breadth remained negative as 1583 stocks closed in the negative, 1,247 stocks finished higher and 162 remained unchanged.

The total market cap of BSE Sensex was Rs 50.9386 lakh crore. The Price to Earnings (PE) multiple of the Sensex stood at 23.08 while its Price to Book value (PB) multiple was at 2.95 and the Dividend Yield was at 1.32.

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