Benchmark Indices Touch Fresh Highs; Nifty Inches Towards 9,800, Sensex At 31,800

Positive investor sentiments followed gains made in global markets.

Mumbai, July 11: Benchmark Indices opened to fresh highs on Tuesday, extending the gains of the previous day. The 30-scrip BSE Sensitive Index (Sensex) gained 0.26 per cent or 86.39 points to open at a record high of 31,802.03. Meanwhile, the 51-share Nifty inched towards 9,800.

The National Stock Exchange’s benchmark index gained 25.55 points or 0.30 per cent to open at 9,796.60. The positive performance comes despite the major technical glitch experienced by the index during the previous day’s trading. The NSE midcap 100, also managed to gain by 0.4 per cent.

Positive investor sentiments followed gains made in global markets. Asian markets ended on a high despite the wait for cues in changes to the US monetary policy. US Federal Reserve Chair Janet Yellen’s testimony on the same is expected to come soon.

While the Dollar managed to make slight gains, the Rupee edged stronger to it. It opened at 64.56 per dollar, in comparison to the previous close of  64.60. Global crude oil prices also made a marginal recovery, backed by predictions of increased demands in the coming weeks. This was reflected in the 25 cents hike of Brent crude futures at $47.13 per barrel.

The top gainers in the 30-scrip BSE included Infosys, TCS, Tata Motors and Mahindra & Mahindra; that gained by 2.89, 2.68, 2.13 and 1.68 per cents. The entities that lost the most according to the Bombay Stock Exchange’s benchmark index were Cipla, Bharti Airtel, ONGC and Dr Reddy that lost by1.50, 1.34, 0.92 and 0.90 percentage points each.

Meanwhile, similar trends were recorded by the National Stock Exchange wherein the maximum gainers were Infosys, Tata Motors DVR, Tata Motors and Lupin that gained by 1.77, 1.72, 1.68 and 1.28 percentage points. On the other hand, the maximum losers were Bharti Airtel, Cipla, Tata Power and Coal India that lost by 1.23, 0.95, 0.54 and 0.54 per cents respectively.