It was expected that the index was likely to hit the historic high of 10,000-mark as the pre-opening rates settled in above the key milestone.
New Delhi, July 25: Equity benchmark started with a record high as NSE Nifty breached the 10,000 mark for the first time on Tuesday. While the 50-share NSE Nifty was at 10,010.55, up by 44.15 points in pre-opening, the 30-share BSE Sensex rose 105.01 points to 32,350.88. It was expected that the index was likely to hit the historic high of 10,000-mark as the pre-opening rates settled in above the key milestone.
According to the reports, except for IT and Pharma, all the sectoral indices were trading in green. While HDFC Bank, ICICI Bank, and ITC continued to lead the market higher, Infosys, Lupin, Wipro, Asian Paints and L&T were reported under pressure, this morning.
Shares of Ratnamani Metals and Tubes touched 52-week high of Rs 872. The reports have it that the company has bagged two new orders for supply of HSAW Pipes aggregating to Rs 339. In fact, the company has bagged orders worth Rs 214 crore and Rs 125 crore, which it said will be completed by March and April 2018 respectively.
“Domestic liquidity is very strong and we expect USD 1 billion of flows every month,” Anish Damania of IDFC Securities said. He also said that it is always been a stock picker’s market and the important thing is to look at stocks versus headline index levels.
On July 14, the benchmark index, NSE Nifty breached the 9,900 mark. The 50-share Nifty posted a record high of 9,913.30 when the stock market started trading. While the market was a bit rough on the morning of July 14 as indices started slipping after some time, the BSE Sensex opened at 32,099.93, up by 62.55 points. NSE Nifty rose 21.6 points to open at the high point of 9,913.30.