Indian markets ended their five-day losing streak as global markets provided positive cues. During the closing session, Sensex rose by 255 points, or 0.30 per cent, at 85,169 and Nifty rose by 63 points, or 0.25 per cent, at 26,004.
This is for the first time ever that the Nifty has closed above the 26,000 mark.
Sensex and Nifty during intra-day sessions had touched fresh all-time high of 85,247 and 26,032 respectively.
There is selling seen in the midcap and smallcap stocks. Nifty Midcap 100 index closed at 60,465, down 385 points or 0.63 per cent, and the Nifty Smallcap 100 index closed at 19,357, down 82 points or 0.42 per cent.
Major sectoral indices that gained included fin service, pharma, metal, realty, media, energy, private bank, infra, PSE, and services. Auto, IT, PSU Bank, and FMCG major laggards.
The S&P BSE Sensex pack's top gainer during the day was Power Grid (NS:PGRD), followed by Axis Bank (NS:AXBK), NTPC (NS:NTPC), Bajaj Finserv (NS:BJFS), Bajaj Finance (NS:BJFN), Tata Steel (NS:TISC), HDFC Bank (NS:HDBK), M&M (NS:MAHM), ITC, ICICI Bank (NS:ICBK) and HCL Tech (NS:HCLT). Losers were led by the likes of Tech Mahindra (NS:TEML), Tata Motors (NS:TAMO), Titan (NS:TITN), Kotak Mahindra Bank (NS:KTKM), SBI (NS:SBI), JSW Steel (NS:JSTL), and Wipro (NS:WIPR).
According to Rupak De, Senior Technical Analyst, LKP Securities, "The Nifty made another lifetime high as the bulls did not seem to be in any mood to back down with a weak start. The sentiment is likely to remain positive until and unless it sustains above 25,900, as aggressive put writing was seen there. Technically, the Nifty has sustained above its very short-term moving average."
"There is no reversal in the momentum indicator. So, there could be a range-bound to positive move in the short term. On the higher end, resistance is seen at 26,200-26,250," he said.
Foreign institutional investors sold equities worth Rs 2,784 crore on September 24. However, domestic institutional investors continued buying as they bought equities worth Rs 3,868 crore on September 24.
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