Sensex ends at record closing high, Nifty below 11150

Sensex ends at record closing high, Nifty below 11150

Mumbai, Jul 25: It was an anti-climax of sorts on the market as benchmarks failed to clock fresh highs, particularly for the Nifty as they managed to end the day on a mildly higher note. The Sensex, however, has ended at a record closing high. This is the sixth time in the last 10 trading sessions that the index has achieved this feat.
In the last hour, some selling in midcaps, metals, infra, energy, auto and IT names dragged the market lower from the day’s high points. The midcap index managed to end on a flat note, with a negative bias.
The Sensex is up 33.13 points or 0.09% at 36858.23, while the Nifty is down 2.30 points or 0.02% at 11132.00. The market breadth is narrow as 1346 shares advanced, against a decline of 1265 shares, while 172 shares are unchanged.
Backed by positive global cues, D-Street started the day on a positive note, with the bulls trying hard to get Nifty past the previous record of 11,171. But there was resistance around 11,050-mark and the index never really managed to sail through this juncture. The market then traded in a tight range through the session, before taking a turn and ending mildly higher.
Stocks in news
Tata Elxsi share price hit all-time high of Rs 1,478 following strong operating profit for the quarter ended June 2018. The stock closed 5.5% higher.
Shares of InterGlobe Aviation, operator of IndiGo, fell 2.2 percent as investors reacted to the news of its aircraft getting grounded.
Shares of Symphony touched 52-week low of Rs 1,122.95 on the back of poor June quarter numbers. The stock closed 19.3% lower.
Shares of Welspun Enterprises dropped 3.2 percent despite positing posted strong numbers in the quarter ended June 2018. The company’s Q1 net profit was up 99.6 percent at Rs 22.8 crore against Rs 11.4 crore in the same quarter last fiscal.
Big bull Rakesh Jhunjhunwala increased equity stake in private sector lender Karur Vysya Bank to 4.22 percent in April-June quarter. The stock ended flat.
Global Update
European markets traded around flatline on Wednesday as investors looked for cues from a meeting between European Commission and President Donald Trump as well as earnings updates too.