Equity benchmarks rose to an all-time high on Tuesday after Asian and US markets traded on a positive note.
At 9:48 a.m., the Sensex was up 75 points or 0.09 per cent at 85,004 while Nifty rose by 25 points or 0.09 per cent at 25,964. It was the first time BSE's benchmark traded above 85,000.
Sensex and Nifty both made a new all-time high of 85,008 and 25,967.
The broader market trend remained in the positive zone. Nifty midcap 100 index gained 147 points or 0.24 per cent at 60,860 and Nifty small cap 100 index rose by 37 points or 0.19 per cent at 19,586.
The top gainers in the Sensex pack were Tata Steel, JSW Steel, Nestle, Tata Motors, Power Grid, HDFC Bank, Sun Pharma, Bharti Airtel, Asian Paints, and NTPC. The worst losers were Bajaj Finance, Infosys, HUL, UltraTech Cement, IndusInd Bank, Axis Bank, Wipro, and Bajaj Finserv.
Choice Broking's Hardik Matalia, Derivative Analyst said, "Nifty can find support after a positive opening at 25,850 followed by 25,800 and 25,750. On the higher side, 26,000 can be the first resistance, followed by 26,050 and 26,100."
Sectoral indices witnesses major gainers in auto, pharma, metal, media, energy, infra, PSE, healthcare, and oil & gas. Major laggards were IT, PSU Bank, fin service, FMCG, and realty.
Most Asian markets are trading at a brisk pace. Tokyo, Shanghai, Hong Kong, Bangkok, Seoul, and Jakarta are trading in green. Markets in the US closed the previous Monday in the green.
Other observers noted, "Two trends deserve attention. The serious global geopolitical concern remains the Middle East where things continue to deteriorate. Israeli strikes on Lebanon have killed hundreds of people raising concerns. Crude has inched up. Gold and the volatility index are moving up reflecting anxiety.
The preference for quality and fair value has gained strength in India, which is mirrored by the continued rise of Bank Nifty for eight consecutive sessions. The reversal of FIIs into the market in September will help frontline banking stocks to regain their footing, they added.
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