Nifty Firm Above 9,800; Infosys, Tata Motors Among Top Movers

Nifty Firm Above 9,800; Infosys, Tata Motors Among Top Movers

The stock markets continued their record breaking run on Tuesday as both the benchmark indices Sensex and Nifty rose to new record highs for second day in a row. The Sensex jumped over 150 points to hit record high of 31,885 and the broader Nifty rose to its all-time high of 9,830. The gains in today’s session were led by index heavyweights Infosys, TCS, Tata Motors, State Bank of India and Sun Pharma. Meanwhile, other Asian shares and the dollar cautiously edged higher on Tuesday, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten U.S. monetary policy. Overnight, U.S. stocks edged higher on Monday, led by gains in technology stocks as investors were optimistic ahead of earnings.

Back home, analysts say that probability of Nifty hitting psychologically important level of 10,000 is quite high in July.

From the Nifty basket of shares, 34 were trading higher while 17 were among the losers. Tata Motors, Infosys, Tata Motors DVR, State Bank of India, Mahindra & Mahindra, Lupin, Sun Pharma and TCS were among the gainers in the Nifty, up nearly 1-1.8 per cent each. On the other hand, Bharti Airtel, Cipla, Tata Power, HDFC, HDFC Bank, Coal India, Adani Ports and ITC were among the laggards.
On the sectoral front, buying was visible across the sectors baring a few metal and consumer durable shares. IT shares were witnessing good buying interest as the BSE IT index jumped over 1 per cent. auto, energy, realty and capital goods shares were also seeing buying interest.

The broader markets were trading on a mixed note with BSE mid-cap index trading on a flat note while the small-cap index jumped 0.4 per cent.

As of 1:14 pm, the Sensex was up 148 points or 0.46 per cent at 31,864 and Nifty was at 9,825, up 0.55 per cent or 54 points.