नवीनतम
Sensex, Nifty settle slightly lower
MUMBAI [Maha Media]: The benchmark BSE Sensex and NSE Nifty 50 hit fresh life highs in intra-day trading on Tuesday as investors continued to lap up shares amid expectations of political stability and policy continuity after the Lok Sabha elections. Companies reporting strong sales numbers in sectors like automobiles and real estate have also been in demand over the last few sessions, driving the wider markets.
The BSE Sensex touched a new high of 75,124.28 during market hours on Tuesday and the Nifty50 scaled 22,768 levels. However, some profit booking was seen post the rally and both the indices eventually settled slightly lower. The BSE Sensex closed around 59 points or 0.08 per cent lower at 74,683.70 level. The Nifty 50 ended down 23.55 points or 0.10 per cent at 22,642.75 level.
ICICI Bank, Infosys, Tata Steel, Maruti Suzuki, Bharti Airtel and Mahindra and Mahindra were among the gainers on the Sensex on Tuesday.
Elsewhere, select realty stocks saw big gains; Sobha was up 5 per cent, Godrej Properties jumped more than 4 per cent and Puravankara surged more than 16 per cent. Recent quarterly updates by real estate companies, shows strong sales momentum continues, and this has lifted investor sentiments.
Infosys gained after Bank of America upgraded its rating on the company. Several other software services companies also rose on Tuesday.
The BSE Sensex and Nifty 50 gained more than 25 per cent in 2023-24 financial year and are further up around 1 per cent so far in April. Shares of public sector companies have been in strong demand over the past year, with the BSE PSU Index accelerating over 90 per cent in the financial year ended March 31, 2024.The mid and smallcap indexes also surged over 60 per cent and 70 per cent last year. The broader markets are expected to rally further.
