Mumbai: Indian frontline indices were trading at a record-high on Thursday following positive global cues.
At 9.46 a.m., Sensex was up 144 points or 0.17 per cent at 85,314, and Nifty was up 36 points or 0.14 per cent at 26,040.
Sensex and Nifty made a new all-time high of 85,372 and 26,056 in early trade, respectively.
In the Sensex pack, Maruti Suzuki, Wipro, Tata Motors, Nestle, HCL Tech, Tech Mahindra, Infosys, ITC, TCS, Bajaj Finserv, HUL, Bharti Airtel, Axis Bank and SBI were the top gainers. The top losers were Power Grid, NTPC, Tata Steel, JSW Steel, Titan, Bajaj Finance, HDFC Bank, L&T and Kotak Mahindra Bank.
Selling was seen in midcap and smallcap stocks. The Nifty midcap 100 index was down 375 points, or 0.62 percent, to 60,089, and the Nifty smallcap 100 index was down 104 points, or 0.54 percent, to 19,252.
Market experts say, “There are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs, who will likely move some more money to China and Hong Kong since these markets are cheap and are witnessing an uptrend. But FII selling is unlikely to push the market down significantly since the ample domestic liquidity can easily absorb such selling.”
“A range-bound market is a near-term scenario and, therefore, the real action will be stock-specific,” they added.
Among the sectoral indices, PSU Bank, metal, realty, energy, Pvt Bank, and infra were major losers. Auto, IT, pharma, FMCG, services, and healthcare were major gainers.
Asian markets are showing a bullish trend. Tokyo, Hong Kong, Shanghai, Jakarta, and Seoul are trading in the green. The US markets closed mixed on Wednesday.
Foreign institutional investors (FIIs) extended their selling by selling equities worth Rs 973 crore on September 25, while domestic institutional investors extended their buying by buying equities worth Rs 1,778 crore on the same day.
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–IANS
