Indian frontline indices were trading at a record-high on Thursday after the global cues stayed upbeat. At 9:46 a.m., Sensex was up by 144 points or 0.17 per cent at 85,314 and Nifty by 36 points or 0.14 per cent at 26,040.
Sensex and Nifty made a new all-time high at 85,372 and 26,056 in early trade.
Maruti Suzuki (NS:MRTI), Wipro (NS:WIPR), Tata Motors (NS:TAMO), Nestle (NS:NEST), HCL Tech (NS:HCLT), Tech Mahindra (NS:TEML), Infosys (NS:INFY), ITC, TCS (NS:TCS), Bajaj Finserv (NS:BJFS), HUL, Bharti Airtel (NS:BRTI), Axis Bank (NS:AXBK), and SBI (NS:SBI) gained the most from the Sensex pack. The top Sensex pack losers included Power Grid (NS:PGRD), NTPC (NS:NTPC), Tata Steel (NS:TISC), JSW Steel (NS:JSTL), Titan (NS:TITN), Bajaj Finance (NS:BJFN), HDFC Bank (NS:HDBK), L&T, and Kotak Mahindra Bank (NS:KTKM).
Selling was seen in midcap and smallcap stocks. The Nifty midcap 100 index fell by 375 points or 0.62 per cent to 60,089, and Nifty smallcap 100 index fell 104 points or 0.54 per cent to 19,252.
Market experts opine that "there are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs who are likely to move some more money to China and Hong Kong since these markets are cheap and are witnessing uptrend now. But FII selling is unlikely to push the market down significantly since the ample domestic liquidity can easily absorb such selling."
"A range-bound market is a near-term scenario and, therefore, the real action will be stock-specific," they added.
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