Intraday, BSE Sensex touched a high of 39121.69 before settling at 39056.65, up 184.78 points
Indian markets continued to trade in a positive range on Tuesday, ahead of the Reserve Bank of India (RBI) monetary policy later this week. The key benchmark indices ended the day higher for the fourth consecutive day with Sensex closing over 39000-mark, making a fresh record, and Nifty finishing above 11700-level.
Intraday, BSE Sensex touched a high of 39121.69 before settling at 39056.65, up 184.78 points, or 0.48% than the previous close, while NSE Nifty 50 touched an intraday high of 11729.35, up 44.05 points, or 0.38% than the previous close.
About 1,197 shares on the BSE Sensex have advanced while 1,366 shares declined and 153 shares remained unchanged. However, on Nifty50, scrips of 23 companies advanced and 27 shares fell.
Out of the 11 Nifty sectoral indices, Nifty Energy, FMCG, Media, Metal and Pharma witnessed profit making. On the other hand, Nifty Realty led the gainers, followed by Nifty PSU Bank (1.19%) and Nifty Auto (1.07%).
Major gainers on Sensex pack were Tata Motors, Bharti Airtel, TCS, PowerGrid Corporation, IndusInd Bank and HDFC, with gains ranging between 1.91% and 8.36%.
"Nifty managed to close above 11700 levels. On the macro front, manufacturing PMI index data eased to a six-month low in March 2019. Also to improve liquidity in the system, RBI has announced another $5 billion swap to be done on April 23. Markets to closely track geopolitical issues, movement in currency and oil prices along with Q4FY19," said Hemang Jani, head - advisory, Sharekhan by BNP Paribas. "With strong FII flows seen last month and global economic slowdown, India remains one of the significant beneficiaries," he further said, adding that Lok Sabha election 2019, however, may affect the sentiment of the market.
Nagaraj Shetti, senior technical & derivative analyst of HDFC Securities said Nifty continued to show up-move with range bound action on Tuesday and closed the day modestly higher.
"We observe back to back three doji patterns in the last three sessions and Tuesday's doji is placed slightly lower toMonday's Doji pattern. Technically, these three formations could be considered as a rare bearish 'tri-star' pattern, which indicates a possibility of top reversal pattern soon in the market. Still, we need confirmation of reversal by the way of decline from the highs. Hence, long positions need to be careful at the swing highs," he added.
DIZZY HEIGHTS
- About 1,197 shares on the BSE Sensex have advanced while 1,366 shares declined
- Tata Motors, Bharti Airtel, TCS, Power Grid, and IndusInd Bank were the biggest gainers on Sensex pack rising as much as 8.36%
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Out of the 11 Nifty sectoral indices, Nifty Energy, FMCG, Media, Metal and Pharma witnessed profit making. On the other hand, Nifty Realty led the gainers, followed by Nifty PSU Bank (1.19%) and Nifty Auto (1.07%).
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