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Sensex, Nifty hit record highs, here’s all about it

Equity benchmarks continued to maintain their momentum from Monday, rallying for a third straight date. Sensex opened at a record high, while Nifty touched over 11,100 levels. This was ahead of the expiry of the July series futures and options contracts, expected on Thursday.

Energy and cement stocks were mainly responsible for keeping the benchmark indices on the uptrend during opening trade. Considering the optimism surrounding the earnings season, ACC climbed over 12% as elated investors celebrated the company’s results.

At 9:48AM, Sensex was up 140 points at 36,860 levels, while the Nifty was up 46 points at 11,125 levels. All of Nifty’s sectoral indices were trading in the green, with metal registering an over 1% rise. Further, midcaps and smallcaps outperformed.

The market breadth is positive as 1,181 shares advanced, against a decline of 400 shares, while 464 shares were unchanged.

The gainers brigade was led by Grasim (+5.5%) with Hindalco and Ultratech cement advancing over 3%. However, Hero MotoCorp lost over 2% ahead of its Q1FY19 results.

Meanwhile, the rupee opened lower at Rs68.97 per dollar against yesterday’s close of Rs68.86.

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