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Bulls in driver’s seat! Sensex, Nifty end at record closing highs; Bank Nifty above 28K

market-wrap-up

Closing Bell: Bulls in driver’s seat! Sensex, Nifty end at record closing highs; Bank Nifty above 28K

Sustained buying in banking names ensured that the market ended at record closing highs. The Bank Nifty too managed to end at an all-time closing high and above 28,000 for the first time ever. The 50-share index managed to end at 11,450-mark, a fresh milestone for the index.

Barring automobiles and pharmaceuticals, majority of sectoral indices ended in the green, with maximum gains in energy as well as banks. Meanwhile, midcaps had a tepid day as they underperformed benchmarks to close flat with a negative bias.

Reliance Industries and ONGC were the top gainers, while Maruti Suzuki, Vedanta and Lupin lost the most.

The Sensex closed up 221.76 points or 0.59% at 37887.56, while the Nifty ended higher by 60.50 points or 0.53% at 11450.00.  The market breadth was negative as 1,309 shares advanced, against a decline of 1,393 shares, while 146 shares were unchanged.

HEADLINES OF THE DAY

Results to be announced tomorrow :- 3M India,Apar Ind,Apollo Micro Sy,Arman Financial,Aurobindo Pharm,Bajaj Electric,Bharat Forge,Bliss GVS,Cera Sanitary,Coffee Day,Deccan Cements,Deepak Fert,Eicher Motors,EngineersInd,GNFC,Healthcare Glob,Ipca Labs,Jet Airways,Jindal Steel,Kaveri Seed,Liberty Shoes,Mcleod,MRF,Page Industries,PNB Housing Fin,Sudarshan Chem,Tata Comm,TV TodayNetwork,Venkys,Whirlpool,Zensar Tech.

Low capacity utilisation, hurdles in coal procurement add to power sector NPAs

BEML net loss widens: The company’s Q1FY19 net loss has increased to Rs 160.3 crore against loss of Rs 85.1 crore in the same quarter last fiscal.

Share price of Bharat Electronics (BEL) rose 3.7 percent as company for supply and services of LRSAM systems.

The crucial resistance for Nifty spot is now seen at 11500 and above this 11650 Support for the immediate term is now placed at 11380 next support will be 11200.

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