Nifty ends at new peak of 10153.10, Sensex rises 151 points

Frederick Owens
September 21, 2017

According to market observers, investors were cautious ahead of the two-day US Federal Reserve meeting slated for later in the evening (India time).

At 3.30 p.m., the Nifty50 provisionally closed at 10,147.55 points - marginally lower by 5.55 points or 0.05 per cent.

Eighteen of the 30 Sensex constituents ended lower while overall declining issues outnumbered advancing ones 1,355 to 1,224 and 155 remained unchanged.

"Broad market indices like the BSE mid-cap and small-cap indices lost a little more, thereby underperforming the main indices". Asian markets logged healthy gains and European shares jumped to a higher opening, tracking Wall Street hitting fresh highs on Friday ahead of this week's United States interest rate call and cooling North Korea tensions, traders said. Japanese financial markets are closed for a public holiday today. The Indian rupee gained in the early trade on Wednesday opened higher by 8 paise at 64.25 per dollar versus 64.33 Tuesday.

Larsen and Toubro gained after the engineering firm announced that it has received a contract worth Rs 1,700 crore from Kuwait Oil Co.

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Market heavyweight Reliance Industries was in a sweet spot as the scrip hit a record high of Rs 872.10 (intra-day) before closing 0.85 per cent higher at Rs 847.10 after the IUC cut is seen as benefiting the company's telecom unit, Reliance Jio.

During the day's trade, shares of Reliance Industries hit a record high of Rs 872.10.

Sector-wise, the S&P BSE metals automobile index slipped by 171.59 points, consumer durables index by 120.81 points and banking index by 78.29 points.

On the 30 stock Sensex, Larsen and Toubro (2.20 percent), Bajaj Auto (1.86 percent) and Tata Motors (1.73 percent) were the top gainers. The five biggest losers were Sun Pharma, Dr Reddy's Laboratories, Tata Steel, ONGC and Lupin.

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