sensex today: Sensex, Nifty finish at record high again

India’s equity indexes hit new all-time highs and closed higher for the sixth straight session on Tuesday, led by IT and FMCG shares.

30 shares sense ended 177 points higher at 62,682, while its broader peers convenient 50 ended above 18,600 after hitting a new high of 18,678.

Among the shares of Sensex, HUL,

, , Dr Reddy’s and were the biggest gainers, up about 1-4%. , , ITC , and also closed with gains.

On the other hand,

, , L&T and ends the day with a cut.

By industry, Nifty FMCG was up 1.87% and Nifty Metal was up 1.03%. Nifty Financial Services and Nifty Pharma also closed higher. Across the broader market, the Nifty Midcap50 is down 0.5% and the Smallcap50 is down 0.22%.

“The market is consistently making higher highs and higher lows, which is generally positive. Therefore, support has now moved to 18,550 from 18,450. As long as the index is trading above 18,550, the uptrend wave is likely to continue. Above that, the market could rally to 18,750-18,800,” said Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.

“The encouraging news from China has revived sentiment in Asia. Beijing rolled out more stimulus measures, while rumors on social media suggested that the Chinese government was considering downsizing its anti-Covid policies. Chinese real estate companies surged after the securities regulator in China lifted the ban on equity refinancing for listed real estate companies,” said Deepak Jasani, Head of Department Retail Research, at HDFC Securities, said.

“The continued buying of FPI in India has boosted the major indexes, which could continue to perform well over the next 2 months with some intermittent correction. 18,530 could provide support in the near term while 18,800 could be resistance,” added Hasani.

Earlier in Asia, Japan’s Nikkei 225 index fell 0.48% while South Korea’s Kospi gained 1.04% and China’s Shanghai Composite gained 2.31%.

The rupee ended slightly weaker against the dollar on Tuesday. The rupee closed at 81.72 to the dollar, compared with 81.67 in the previous session. While February Brent crude oil futures rose 2.78% to $86.20 per barrel.

Market breadth is in favor of the bears. About 1,761 stocks declined, 1,718 stocks increased and 148 stocks remained unchanged.


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