Sensex closes at all-time high, Nifty above 26,000 for first time

MUMBAI: India equity indices closed at a record high on Wednesday following positive cues from global markets.

At closing, Sensex was up 255 points, or 0.30 per cent, at 85,169 and Nifty was up 63 points, or 0.25 per cent, at 26,004.

It is the first time that the Nifty closed above the 26,000 mark.

Intraday, Sensex and Nifty made a fresh all-time high of 85,247 and 26,032 respectively.

Selling was seen in the midcap and smallcap stocks. The Nifty Midcap 100 index closed at 60,465, down 385 points or 0.63 per cent, and the Nifty Smallcap 100 index closed at 19,357, down 82 points or 0.42 per cent.

Among the major sectoral indices, fin service, pharma, metal, realty, media, energy, private bank, infra, PSE and services were major gainers. Auto, IT, PSU Bank and FMCG were major laggards.

In the Sensex pack, Power Grid, Axis Bank, NTPC, Bajaj Finserv, Bajaj Finance, Tata Steel, HDFC Bank, M&M, ITC, ICICI Bank, and HCL Tech were the top gainers. Tech Mahindra, Tata Motors, Titan, Kotak Mahindra Bank, SBI, JSW Steel, and Wipro were the top losers.

Rupak De, Senior Technical Analyst, LKP Securities, said: "The Nifty made another lifetime high as bulls seemed in no mood to back down, despite a weak start. The sentiment is likely to remain positive as long as it remains above 25,900, where aggressive put writing was visible. Technically, the Nifty has sustained above its very short-term moving average."

"Furthermore, no reversal is visible in the momentum indicator. Therefore, we might witness a range-bound to positive move in the near term. Resistance on the higher end is seen at 26200-26250," he added.

The foreign institutional investors (FIIs) sold equities worth Rs 2784 crore on September 24, while domestic institutional investors extended their buying as they bought equities worth Rs 3868 crore on the same day.