Sensex, Nifty break three-days record on profit-booking

HDFC, Infosys, Tata Consultancy Services, Tata Steel, Mahindra & Mahindra, and HDFC Bank were the top gainers in the Sensex.

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Sensex Analysts said the Indian equity benchmark broke a three-day record on Wednesday as investors posted record highs before the weekly close of index futures and options contracts. Earlier in the day, the benchmark opened higher, with the Sensex rising 366 points to a record high of 57,918.71 and the Nifty 50 index hitting an all-time high of 17,225.75. HDFC, Infosys, Tata Consultancy Services, Tata Steel, Mahindra & Mahindra, and HDFC Bank were the top gainers in the Sensex.

The Sensex closed 214 points lower at 57,338, and the Nifty 50 index fell 56 points to 17,076.

“If the Nifty can maintain the level of 17,000, it could see levels of 17,250-17,300. Continue to show a positive outlook with momentum indicators like Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD),” Ashish said. Biswas, Head of Technical Research at Capital Via Global Research.

Ten of the 15 sectors compiled by the National Stock Exchange have risen more than 5 percent, led by the S&P BSE Reality Index. The Nifty Consumer Durables, PSU Bank, Bank, Private Bank, and Media Index also rose between 0.5-2 percent.

On the other hand, Nifty Information Technology, Metal and Pharma indices closed with a fall.

Interest was seen in mid and small-cap stocks, with the Nifty Midcap 100 index up 0.75 percent and the Nifty Smallcap 100 index up 0.3 percent.

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Abbott India, Crompton Greaves Consumer Electrical, Dalmia Bharat, Delta Corp, The India Cements, JK Cement, Oberoi Realty, and Persistent Systems stated in a circular by the National Stock Exchange on Wednesday that these shares would be added to futures. Options section from the beginning of the October series.

Mahindra & Mahindra Tip Nifty was the loser, with the stock rising nearly 3 percent to close at ₹770. Cipla, Tata Steel, Hindalco, Bajaj Finserv, Tata Consultancy Services, HDFC, Infosys, JSW Steel, HCL Technologies, Grasim Industries, and Tech Mahindra also fell between 1-2.7 percent.

On the other hand, Asian Paints, Tata Motors, SBI Life, Nestle India, Axis Bank, Titan, Dr. Reddy’s Labs, Bharat Petroleum, UPL, and Larsen & Toubro were among the gainers.

Overall market breadth was neutral as 1,513 shares closed higher while 1,664 shares closed lower on the BSE.

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