Sensex and Nifty continued their winning streak and ended the day at new high since February this year. The momentum was led by the expectation of interest rate cut by RBI on upcoming monetary policy review. Nifty breached the psychological 6000 mark and makes the day’s high at 6019. Sensex closed at 19735 level gained 231 points while Nifty ended an inch lower to 6000 level at 5999 surging almost 70 points.
Market is very much positive about their expectation that RBI will cut 25 basis points in its key rates. Shares of M&M gained after the company's total sales for the month of April increased to at 41,432, up by 2%, as compared to 40,715 units, year-on-year (y-o-y).
Among the sectoral indices CNX IT (2.62%) was the biggest gainer of the day. Except CNX MNC (-0.22%) all other sectoral indices enjoyed the northward momentum.
Out of 50 shares of Nifty 35 shares were in positive zone and 15 shares were in negative zone.
Market breadth was positive on the NSE with 774 gainers against 530 losers.
Top 5 Nifty gainers: Reliance Infrastructure (3.43%), HCL (3.42%), TCS (3.38%), JP Associate (3.06%) and M&M (2.98%) were among the biggest gainers.
Top 5 Nifty Losers: CAIRN (-1.94%), HUL (-1.88%), Hero Motorcorp (-1.62%), Hindalco (-1.39%) and Tata Motors (-1.12%) were among top losers.
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