Mumbai Aug 1 (IANS) The key Indian equity indices which traded on a flat note for most part of the session due to profit booking closed at fresh highs on Tuesday on the back of healthy quarterly results from corporates as well as July automobile results.
Besides positive global cues along with hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI) kept investors sentiments buoyed.
The wider Nifty50 of the National Stock Exchange (NSE) closed above the psychologically important 10 100-mark for the first time.
The NSE Nifty rose by 37.55 points or 0.37 per cent to close at a new high of 10 114.65 points after touching a fresh intra-day high of 10 128.60 points.
Similaly the 30-scrip Sensitive Index (Sensex) of the BSE closed at a fresh high of 32 575.17 points -- up 60.23 points or 0.19 per cent from its previous close of 32 514.94 points.
The Sensex scaled a high of 32 632.02 points and a low of 32 462.25 points during intra-day trade.
However the BSE market breadth was bearish with 1 656 declines and 1 030 advances.
In terms of the broader markets the S&P BSE mid-cap index was up 0.45 per cent whereas the small-cap index was down 0.12 per cent.
"Benchmark indices ended with trade at record closing highs for the second straight session with the Nifty closing above 10 100 for the first time ever on strong auto sales numbers and hopes that RBI will cut interest rates tomorrow (Wednesday) " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
"Marico FMCG major dropped as much as 5.4 per cent after reporting first quarter earnings."
On the currency front the rupee strengthened by 11 paise to 64.07-08 to a US dollar from its previous close at 64.18-19.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 945.83 crore while domestic institutional investors (DIIs) purchased stocks worth Rs 1 390.65 crore.
"Markets rallied further on Tuesday to close at new life highs. The gains came on the back of positive global cues. Private survey showing Indian manufacturing activity contracting in July kept gains of indices under check " said Deepak Jasani Head of Retail Research HDFC Securities.
On the macro front data released during market hours showed that India s manufacturing sector s output declined last month due to the launch of the Goods and Services Tax (GST) and weak demand.
The Nikkei India Manufacturing Purchasing Managers Index (PMI) which is a composite indicator of manufacturing performance stood at 47.9 in July from the index reading of 50.9 in June 2017.
"With manufacturing activity contracting and retail inflation slowing the RBI will be hard pressed to announce a rate cut of at least 25 basis points in the upcoming Monetary policy meeting " Desai added.
Sector-wise the S&P BSE automobile index surged by 384.56 points the metal index by 126.84 points and the oil and gas index by 51.54 points.
On the other hand the S&P BSE consumer durables index declined by 123.81 points the capital goods index by 66.66 points and the telecom index was a tad down by 5.35 points.
Major Sensex gainers on Tuesday were: Hero MotoCorp up 2.05 per cent at Rs 3 729.10; Maruti Suzuki up 1.96 per cent at Rs 7 859.10; Wipro up 1.82 per cent at Rs 294.25; Mahindra and Mahindra up 1.77 per cent at Rs 1 426.85; and Dr. Reddy s Lab up 1.73 per cent at Rs 2 426.75.
Major Sensex losers were: Lupin down 1.36 per cent at Rs 1 018; ONGC down 1.21 per cent at Rs 167.30; State Bank of India down 1.20 per cent at Rs 308.80; Asian Paints down 0.98 per cent at Rs 1 148.10; and Kotak Bank down 0.67 per cent at Rs 1 012.90.
--IANS
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