Closing bell:Closing Bell: The National Stock Exchange’s Nifty 50 hit a fresh all-time high of 25,129.60 on August 28, led by a strong and prolonged buying spree in information and technology stocks, as investors await the Federal Reserve’s next rate cuts on September 18.
As the trading session neared its close, domestic bourses retreated as the 30-share Sensex of the Bombay Stock Exchange closed 73.80 points or 0.09 per cent higher at 81,785.56, while the Nifty 50 closed 34.60 points or 0.14 per cent higher at 25,052.35.
Nifty was boosted by strong gains in LTI Mindtree, which rose as much as 8 per cent intraday and closed 6.31 per cent higher at 6,114.60 apiece. Wipro, Information systemsMahindra Technology, TCSand HCL Tech were other key IT stocks that drove the index to a new high.
Apart from IT stocks, Divi’s Lab, Bharti Airtel, IndusInd Bank, Sun Pharma and Bajaj Auto were other top gainers. NSE On Wednesday.
On the other hand, the market faced a tug-of-war with market leaders such as Maruti SuzukiAsian Paints and Adani Enterprises lost nearly 1.3 per cent each in today’s trading session. Shri Ram Finance, Britannia, Be protected India and Tata Consumers were other big laggards in current trading.
In terms of sectoral performance, the Nifty IT index and the Nifty Healthcare index topped the list with gains of 1.64 per cent and 1.2 per cent respectively, while the banking, automobile, FMCG, consumer durables and oil & gas indices ended in the red.
Broader market indices also exhibited a mixed performance on August 28 as midcap and smallcap stocks ended on a negative note, while the Nifty Midcap 50 rose marginally.
Asian markets also closed unchanged, with South Korea’s KOSPI and Japan’s Nikkei up slightly, while Chinese stock markets closed lower.
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