NIFTY50 and Sensex close at record highs for the second consecutive day; Stock Market Highlights

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The NIFTY Smallcap 100 index closed 0.1% higher. The NIFTY Midcap 100 Index also closed in green, up 0.4%.

The NIFTY Financial Services index was up 0.9% today. HDFC AMC (+2.5%) and SBI (+2.2%) were the top gainers, whereas ICICI Prudential Life (-3.3%) and Muthoot Finance (-2.0%) were the top losers.

The BANK NIFTY (+1.2%) index rose to fresh highs today. Gains in large banks such as ICICI Bank (+2.0%), HDFC Bank (+0.7%) and SBI (+2.2%) supported the index.

The NIFTY50 (+0.8%) index closed above the 20,850 mark, while Sensex (+0.6%) was up around 431 points. Indian markets continued their upward march for the sixth consecutive session. On the sectoral front, Metal (+3.2%) and Oil & Gas (+1.3%) were the top gainers, while Realty (-0.6%) and IT (-0.4%) were the top losers.

The ratings agency has revised its outlook on China to negative from stable. It attributed this to rising debt in the world’s second largest economy. Lower medium term growth and ongoing property crisis were the contributing factors for a downgrade, according to Moody’s.

The NIFTY50 (+0.4%) is trading above the 20,800 mark, while Sensex (+0.4%) is up 340 points. Indian markets have continued their upward march for the sixth consecutive session. On the sectoral front, Metal (+2.6%) and PSU Bank (+1.4%) are the top gainers, while IT (-0.9%) and Media (-0.8%) are the top losers.

Long Build Up: Adani Enterprises, BPCL, Power Grid, Adani Ports and NTPC Short Build Up: Ultratech, LTIM, Infosys, Apollo Hospitals and Divis Lab

Shares of Hindustan Construction Company (HCC) are up 4.7% today.

This comes a day after the company’s subsidiary received ₹110 crore for selling its stake in Baharampore-Farakka Highways.