FINAL TRADE: Nifty settles at fresh closing peak of 19,398.50, Sensex slips 33 pts; auto, FMCG stocks rally

Stock market today: The Nifty50 continued its record-setting session for the fifth straight day as the index ended at yet another peak of 19,398.50 on Wednesday (July 5), up 9.50 points or 0.05 per cent. The 30-share index Sensex of the BSE, on the other hand, ended flat with a negative bias, down 33 points, or 0.05 per cent at 65,446.04 levels. Profit-booking in some of the recent outperforming stocks and a lack of fresh cues led to a subdued session today.

"Investors traded with caution due to the absence of any cues from US markets, which were shut on Tuesday. Also, the market was already in an overbought zone due to the recent upsurge, and hence selective profit-taking was on the cards. Technically, as long as the index is trading between 19,320 and 19,435 points, the narrow-range activity is likely to continue. For bulls, 19,435 would be the immediate breakout level. Above this, the market could rally until 19,500–19,525. However, below 19,320, the selling pressure is likely to accelerate and could slip until 19,250–19,200. Contra traders can take a long bet near 19200 with a strict 35-point stop loss, said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

BUZZING STOCKS

Maruti Suzuki India shares rallied 3.61 per cent to Rs 9,994.50 on the BSE. During the session, the stock surpassed the key Rs 10,000 level after the car maker launched its much-awaited multi-purpose vehicle (MPV) Invicto. Bajaj Auto hit a 52-week high of Rs 4,902.50 after it launched its Triumph Speed 400X for Rs 2.33 lakh. The price of its other bike, the Scrambler 400 X, which will also be launched on Wednesday (July 5), will be announced later.

Shares of Samvardhana Motherson International jumped as much as 8.69 per cent to hit a 52-week high of Rs 92.50 apiece on the BSE in the early morning trade on Wednesday, a day after the company announced it would acquire an 81 per cent stake in the four-wheeler business of Yachiyo Industry, a Honda Motor subsidiary. The stock ended at Rs 90.32 on the BSE, up 6.13 per cent.

On the contrary, Shares of HDFC Bank and HDFC declined in the trade after gaining in the recent past on merger news. The stocks slipped on the subdued Q1 business update by HDFC Bank. The shares ended at Rs 1,673.30, down 3.20 per cent. It must be noted that HDFC is set to get delisted on July 13.

BROADER MARKET

The S&P BSE MidCap index gained 0.68 per cent to 28,994.35 levels while the S&P BSE SmallCap index was up 0.62 per cent at 33,004.56 points.

SECTOR WATCH

FMCG and auto stocks rallied the most in trade. The S&P BSE Auto index jumped 1.62 per cent to 35,134.14 levels, while the S&P BSE Fast Moving Consumer Goods index was up 1.71 per cent at 19,259.69 points.