Nifty Ends At Record High; IndusInd Bank, HCL Tech Top Gainers

Gains in TCS, Kotak Bank, L&T, HCL Tech, ITC and IndusInd Bank were offset with losses in HDFC, HDFC Bank, Hindustan Unilever, Infosys and Tata Steel.

Nifty Ends At Record High; IndusInd Bank, HCL Tech Top Gainers

The Indian equity benchmarks ended on a flat note after hitting record highs earlier in the session as investors booked at fresh all-time highs. The Sensex rose as much as 305 points and Nifty 50 index touched an all-time high of 17,438.55. Gains in Tata Consultancy Services, Kotak Mahindra Bank, Larsen & Toubro, HCL Technologies, ITC and IndusInd Bank were offset with losses in HDFC, HDFC Bank, Hindustan Unilever, Infosys and Tata Steel.

The Sensex advanced 69 points or 0.12 per cent to close at 58,247.09 and Nifty 50 index 25 points to close at record high of 17,380.

Buying was visible across the board as eleven of 15 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Media index's 14 per cent jump. Media index surged after Zee Entertainment rallied a whopping 40 per cent after top investors at the firm sought the removal of its chief executive Punit Goenka from the board. Auto, Information Technology, Private Bank and Consumer Durables indexes also rose around 1 per cent.

On the other hand, FMCG, Metal and select financial services shares witnessed selling pressure.

Mid- and small-cap shares ended higher with Nifty Midcap 100 index advancing over 1 per cent and Nifty Smallcap 100 index up 0.29 per cent.

Ami Organics shares made a bumper stock market debut on Tuesday, the stock opened for trading at Rs 902 on the BSE compared with issue price Rs 610, marking am upside of 48 per cent from the initial public offering (IPO) price.

Vijaya Diagnostic Centre's shares made a subdued debut on the bourses. The shares of the Kedaara Capital-backed diagnostic chain listed at Rs 542.30 on the BSE, a premium of 2.13 per cent compared to the issue price of Rs 531 per share. On the NSE, the shares opened at Rs 540, a premium of 1.69 per cent.

Shares of steel maker Godawari Power and Ispat were locked in a 5 per cent upper circuit at Rs 1,269.90 after the board of directors of the company approved stock split in the ratio of 1:2 and bonus issue of shares.

IndusInd Bank was top Nifty gainer, the stock rose nearly 4 per cent to Rs 1,035. HCL Technologies, Hero MotoCorp, Adani Ports, Tata Motors, Bajaj Auto, Larsen & Toubro, Tech Mahindra, Kotak Mahindra Bank and ITC also rose between 1.2-2.4 per cent.

On the flipside, UltraTech Cement, HDFC, Bharat Petroleum, Nestle India, Tata Steel, Hindustan Unilever, Bajaj Finserv, Bajaj Finance and UPL were among the losers.

The overall market breadth was positive as 1,933 shares ended higher while 1,308 closed lower on the BSE.

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