Sensex and Nifty closes at all-time high

The Sensex and Nifty scaled new peaks, but in the afternoon closed lower paring most of the gains. Both, the indices closed the day with decent gains for the day.

Index heavyweight Reliance Industries (RIL) surged ahead on stock-split and bonus rumours. The metal and cement shares continued their rise whereas tech and auto stocks closed lower on profit-taking.

Sensex closed higher by 74.41 points (0.6%) and closed at a lifetime high of 11,895.98. The S&P CNX Nifty gained 17.75 points (0.5%) to an all- time closing high of 3,535.85.

Sun Pharma surged to close higher by 4.86% at Rs.921.65. The stock had hit an intraday high of Rs.947.4 and low of Rs.875. NALCO closed at Rs.325, up by 4.59%. The aluminium and copper prices have hit a new high which inturn propels the metal stocks.

The other major gainers in NIFTY were, ACC (Rs.968.05, up by 3.44%), Reliance Industries (Rs.921.8, up by 3.42%), Tata Steel (Rs.608.75, up by 3.25%), Ranbaxy Laboratories (Rs.480.55, up by 3.16%), Grasim Industries (Rs.2313.45, up by 3.09%).

BHEL and SAIL closed higher by more than 2%. Out of 50 stocks in NIFTY 24 were gainers, 25 were losers and 1 remained unchanged.

Source : Equity Bulls

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