Closing Bell: Nifty above 24,600 for first time, Sensex up 52 pts at record 80,717 led by FMCG stocks

Share Market News July 16: Domestic equity benchmarks scaled fresh record closing highs on Tuesday, as Dalal Street headed into a mid-week trading holiday the next day. Buying interest in FMCG and IT shares pushed the main gauges higher, although selling pressure in energy stocks limited the upside. Both headline indices ended 0.1 per cent stronger for the day, with the Sensex rising 51.7 points to 80,716.6 and the Nifty50 adding 26.3 points to settle at 24,613. 

Coal India, BPCL, HUL, Tata Consumer Products, Bharti Airtel, LTIMindtree and HDFC Life - closing between 1.2 per cent and 3.0 per cent higher - rose the most among the 28 gainers in the Nifty basket. 

On the other hand, Shriram Finance, Kotak Mahindra Bank, Dr Reddy's Labs, Reliance, NTPC< Hindalco and UltraTech - declining between 1.3 per cent and 2.2 per cent - were the top losers in the 50-scrip pack. 

Bharti Airtel, ICICI Bank, Infosys, HUL and ITC were the biggest movers for both main gauges.

Investors awaited quarterly numbers from several major corporates due this week for domestic cues. All eyes were also on the much anticipated first Budget of the Narendra Modi 3.0 government due next week. 

Among NSE's sectoral indices, the Nifty Bank lost 59.1 points - or 0.1 per cent - to finish at 52,396.8, taking its losses to 960.9 points - or 1.8 per cent - from an all-time high registered this month. 

Driven by sharp gains in stocks such as HUL, ITC and Tata Consumer, the Nifty FMCG was the second top gainer among the bourse's sectoral gauges with a gain of 1.0 per cent, after the Nifty Realty's 1.7 per cent surge.

Among broader indices, the Nifty Smallcap 100 inched 0.1 per cent higher while its midcap counterpart finished flat. 

Overall market breadth stood largely neutral at the end of the day, as 2,002 stocks rose while 1,909 declined on BSE.  

Catch highlights of the July 16 session on Dalal Street here. For all other news related to business, market, tech and auto, visit Zeebiz.com.