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Nifty closes at record high. Banks lead the rally.

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Indian markets have seen record highs and today’s session witnessed the indices moving up to their lifetime highs, led by the rally in Banking & Financials sectors.

The NSE Nifty closed at 6641, up by 40 points or 0.61%, while the BSE Sensex closed at 22,214.37, up by 119.07 points or +0.54%.

Banking and financials remained in the spotlight right from the beginning of the trade, as Goldman Sachs has issued a upgrade for the Indian markets.

State Bank of India has moved up by 4% to close at 1837. IDFC, from the financials space, was the top gainer on the index with an upswing of more than 5% at 121.70. Punjab National Bank was the other big gainer from the banking space. The stock has moved up, above the 700 mark and closing at 705.

Ultratech Cement on the Cement space, has moved up by 3.4%.

Heromotoco, Bank of Baroda and Ambuja Cements – have managed to gain over 3% in today’s trade.

JP Associates, BPCL, Asian Paints, ONGC, NTPC – have all gained nearly 2%.

Pharma stocks were dragging the Nifty index. Ranbaxy and Dr. Reddy’s were both dragging the index as they saw a cut of 2.3%.

Tata motors and SSLT have also seen decline of over 1.5% each.


 

 

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