Mumbai: The Indian benchmark indices climbed to record highs before closing in the green after a volatile session of trade on Thursday, succumbing to profit-taking at higher levels, as per a report by Asit C. Mehta Investment Intermediates.
While the Nifty closed 80 points, or 0.36 per cent, up at 22,514.65, the Sensex ended 350.81 points, or 0.47 percent, higher at 74,227.63, their best close ever.
Trading was volatile due to the expiry of weekly index options on the NSE. The investors are also eyeing the RBI outcome slated for Friday, the report said.
The broader indices ended in the positive territory, with gains led by largecap and smallcap stocks. Also, IT shares advanced for the second consecutive trading session.
Sector-wise, automobile, information technology, private bank, and financial services sectors witnessed buying interest, while FMCG, PSU bank, and oil & gas remained under pressure, the commentary said.
Vinod Nair, Head of Research at Geojit Financial Services, said the market breadth displayed a positive trend within a narrow trading range, with attention focused on the RBI’s upcoming monetary policy announcement on Thursday.
Expectations lean towards the likely status quo in the repo rate due to the prevalent inflation worries.
Meanwhile, the broader market has shown resilience in select sectors like banks in anticipation of decent Q4 results and exports based on composite PMI data reflecting strong business conditions, Nair said.
–IANS
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