Sensex, Nifty End At New Highs; Gain For Third Straight Day
Some Pressure At Higher Levels
Indian equities ended higher for the third straight day but witnessed some pressure at higher levels. Benchmarks continued their best rally in 10 months.
The S&P BSE Sensex ended 0.9% higher at 50,255 while the NSE Nifty 50 index ended 1% higher at 14,789. The Sensex closed 270 points while the Nifty fell 80 points from their respective day's high.
Among the sectoral indices, the Nifty Pharma index was the top performer in today's session, ending 2.8% higher, after gaining as much as 4% in early trade. The PSU Bank index was also on-par with the Pharma index, ending with gains of 2.6%.
The Nifty Metal index gained 1.7% while the I.T. and Auto indices gained 1% each.
The FMCG index was the underperformer in today's session, ending with a negative bias.
Broader markets outperformed the benchmarks in today's session. The Nifty Midcap index ended 1.4% higher while the Smallcap index gained 1.2% in today's session.
The India Volatility Index ended 1.7% higher at 23.7.
1,165 stocks on the NSE ended with gains while 703 stocks posted losses.