Sensex, Nifty End Lackluster Session Flat

Mumbai: Investors cheered as benchmark indices settled the day at their respectinve closing highs with Nifty ending above 9,400 for the first time ever as IMD's new monsoon forecast raised prospects of higher agricultural and economic growth, cheering the investors.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at a new high of 30,248.17 points - up 314.92 points or 1.05 per cent from its previous close at 29,933.25 points.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) provisionally closed at 9,422.40 points - up 15.10 points or 0.16 per cent.

At around 9.30 am, the BSE Sensex hit 30,306 while the Nifty was up 26.75 points at 9,434, led by metal and realty stocks.

The market breadth turned negative as 1,583 stocks closed in red, while 1,247 finished in green and 162 ruled steady. ICICI Bank, Axis Bank, SBI, and HDFC Bank rose by up to 1.59 per cent. The stock later pared some gains to end 8% higher.

The indices had ended at record highs in yesterday's session as well after the weather office said monsoon rainfall this year will exceed its earlier forecast, easing inflation worries.

Hindustan Unilever (down 1.1%), another prominent gainer in the previous session, is also down due to profit taking.

"We believe Hero MotoCorp is the best pick, with a likely revival in the rural economy, as approximately 50% of sales are in the rural markets", HDFC Securities said in a note. European indices were trading mixed in their late morning session.

Lupin surged the most by climbing 2.32 per cent, followed by Bharti Airtel (1.91 per cent) ahead of its quarterly earnings tomorrow.

Among other Asian markets, Hong Kong's Hang Seng was up 0.64 per cent while Japan's Nikkei gained 0.30 per cent in early trade.

Among BSE's sectoral indices, telecom stole the show by rising 4.59 per cent, while FMCG, auto and energy gained over a percent.

HCL Technologies, a constituent of the Nifty, fell 0.4% to 838.65 rupees.

The NSE index was last up 0.42 percent while the BSE index was last up 0.36 percent.

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