Closing Bell: Nifty hits all-time high of 18614, mount 62701 for Sensex; energy auto stocks catalyst in gains

Closing Bell: Indian frontline indices continued their winning streak on Monday. Nifty50 scaled a new lifetime high of 18,614.25, bettering its previous record of 18,604 on the intraday basis and finally settling at 18,562.75, up 50 points or 0.27 per cent. The S&P BSE Sensex also hit yet another lifetime high of 62701.4. The 30-stock index closed at 62,504.80, higher by 211.16 points or 0.34 per cent. Bank Nifty ended at 43,020.45, up 0.08 per cent.

INDIA VIX, a gauge for volatility in Nifty was at 13.57, up 1.74 from the Friday closing.

The strong show was despite Asian markets ending in the red. Top indices like Shanghai Composite and Nikkei 225 settling in the red on news of widepread protests in China against Xi Jinpping Government's decision of harsher lockdowns.

The top gainers were BPCL, Reliance Industries, Hero MotoCorp, Tata Consumer Products and SBI Life while the top losers were Hindalco Industries, Apollo Hospitals, JSW Steel, Tata Steel and HDFC Bank. 

Out of the 15 Nifty sectoral indices, six ended in the red against 9 gainers. The top performer was Nifty Oil & Gas (+1.60 per cent) followed by Nifty Auto (+0.61 per cent) and Nifty FMCG (+0.34 per cent). The biggest laggards were Nifty Metal, followed by marginal losses in Nifty Consumer Durables, financial services and IT.

There was stock specific action in broader markets as well with Nifty Mid Cap 100 and Nifty Small Cap 100 indices settling with gains. While the former closed up 0.73 per cent, the latter was higher by 1.23 per cent.

Out of 3,784 stocks that traded today, advances were seen in 2,092 stocks, declines in 1,511 stocks while 181 remained unchanged. 164 stock hit upper circuit while 36 hit lower circuit.

Dharmaj Crop Guard Limited's IPO which opened today was subscribed 0.73 times on the NSE with retail portion subscribed 1.29 times.  

Singapore-based SGX Nifty, an early indicator of movement in Nifty50 was trading at 18,729, up 68 points or 0.36 per cent while Dow 30 Futures were trading at 34,155.50, down 191.50 points 0.56 per cent.

Also Read: Paytm shares recover intraday losses after 3% fall post RBI decision to pauses onboarding of online merchants by PPSL

"Markets extended the prevailing trend and posted modest gains amid mixed cues. Weakness in the global markets triggered a weak start however the Nifty index recovered in no time and inched gradually higher as the session progressed. It finally made a new record high but profit taking in the last hour trimmed the gains. Consequently, it closed 18,562.70 levels; up by 0.3%. Meanwhile, the sectoral indices traded mixed wherein energy and auto were the top gainers while metal, IT and banking traded subdued," Ajit Mishra, Vice President, Technical Research at Religare Broking Ltd said. .

"We may see some consolidation in markets amid mixed global cues however the bias would remain on the positive side. Participants should utilise the phase to add quality names, especially from banking, IT and auto space. Besides, they may consider selective bets from the midcap and smallcap citing the recent participation," he added.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)