Stocks & Funds

Sensex and Nifty Reach New Highs, But Trade Remains Flat

Sensex and Nifty

As of publishing, Indian benchmark indices, the Sensex and Nifty, are trading flat. The Nifty opened above 19,400 while the Sensex went above 65,500.

It’s a slow day for FMCG and metal packs, but pharma and IT stocks are on the rise. Eicher Motors is the biggest laggard at this hour with a loss of over 4%. Harley Davidson’s X440 motorcycle was launched under Rs 2.5 lakh on Monday by its international competitor.

In addition to its internet-enabled JioBharat 4G phone which was launched on Monday at Rs 999, Reliance seems to be dragging the benchmarks down as it is trading more than 1.4% lower at around Rs 2,578 a share.

Newcomer HMA Agro has listed on Dalal Street at 625 per share, a premium of over 6% over its issue price of $585 per share.

This is Bajaj Finance’s sixth consecutive day in the green, as the company reported 34% more new loans booked in the first quarter than last year.

At 81.92, the Indian rupee is a tad stronger than Monday’s close of 81.96.

A strong foreign fund flow and a rally in global equities helped the Sensex and Nifty close at new record highs for the third consecutive session on Monday. The momentum was also boosted by heavy buying in index majors Reliance Industries, ITC and HDFC twins, traders said.

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I'm Shruti Mishra, Editorial Director @Newsblare Media, growing up in the bustling city of New Delhi, I was always fascinated by the power of words. This love for words and storytelling led me to pursue a career in journalism. In this position, I oversee the editorial team and plan out content strategies for our digital news platform. I am constantly seeking new ways to engage readers with thought-provoking and impactful stories.

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