Sensex ends at record 34011, Nifty scales 10531

Sensex crosses 34000 mark telecom realty led rally

Sensex crosses 34000 mark telecom realty led rally

After hitting fresh lifetime highs in early trade, the domestic equity indices succumbed to profit-booking during the fag end of the session to end lower amid caution ahead of derivates expiry on Thursday.

The 30-share Sensex ended at 34010.61, a fresh closing high for Sensex with a gain of 70.31 points, or 0.21%, while the broader Nifty rose 38.50 points (0.37%) to end at a new peak of 10531.50 points.

Out of 1,997 stocks traded on the NSE, 906 advanced, 766 declined and 325 remained unchanged today. In the last two trading sessions, the stock has surged over 80%.

"The Sensex, too, closed below the psychological 34,000-mark".

Sixteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Oil & Gas Index's 0.9 percent gain. Will the market's positive trend continue?

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Provisional data with the exchanges showed that FIIs sold scrips worth Rs 44.07 crore while domestic institutional investors purchased stocks valued at Rs 544.50 crore. "Mid and small cap outperformed on expectation of improvement in rural demand supported by continued government reforms", said Vinod Nair, head of research, Geojit Financial Services.

"Stock-specific news on pharma has influenced investors to focus on the sector which is now available at low valuation", he added.

The Indian rupee is trading marginally higher against USA dollar in a moderately less active traded market as many dealers were on leave for the year end.

Sectorwise, all the sub-indices of the BSE, except the healthcare index, closed in the red.

Volatility index India VIX rose over 3%. Bharti Airtel was followed by Sun Pharma, Yes Bank, Tata Steel and Dr Reddy's Laboratories, which also witnessed brisk buying.

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