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Sensex, Nifty Hit Record Closing Highs As Markets Extend Gains To Second Day
27 May 2019, 03:36 PM IST 
HDFC Bank, HDFC and L&Tcontributed the most to the upmove on Sensex
- Thirty one stocks on the 50-scrip benchmark index closed higher. Top gainers on the index were Tata Steel, Yes Bank, Indian Oil, NTPC and Larsen & Toubro, finishing with gains of between 3.20 per cent and 5.80 per cent.
- HDFC Bank, HDFC and L&T contributed the most to the upmove on Sensex.
- The Nifty Bank and Nifty Financial Services indexes ended 1.39 per cent and 1.46 per cent higher.
- Marked breadth favoured the advances, with 1,331 stocks on the National Stock Exchange finishing higher and 470 ending lower. On the BSE, 1,794 stocks advanced while 783 declined.
- Analysts say strength in select stocks is pushing the key indexes higher. "We have a new government and we are seeing stock specific rally," AK Prabhakar, head of research at IDBI Capital, was quoted as saying in a report by news agency Reuters. "There will be sectors which are likely to outperform and markets are now waiting for a new policy."
- Midcap and smallcap stocks outperformed the benchmark indexes. The S&P BSE Midcap and Smallcap indexes closed 1.13 per cent and 1.77 per cent higher respectively.
- On the other hand, the Nifty Pharma finished 0.97 per cent lower, dragged by Lupin, Sun Pharma and Divi's Laboratories.
- Shares in InterGlobe Aviation - the operator of the IndiGo airline - rose 2.77 per cent to close at Rs 1,666.60 apiece on the NSE, ahead of the earnings announcement by the company for the January-March period.
- The government is due to release the GDP or gross domestic product data for the quarter ended March 31 on Friday.
- The Sensex and Nifty had ended 1.61 per cent and 1.60 per cent higher on Friday, after the Bharatiya Janata Party-led National Democratic Alliance (NDA) won an overwhelming majority in the recently concluded general elections.
(With inputs from Reuters)
