Sensex, Nifty scale new peaks on GST preparedness

The Sensex on Monday ended higher for the second straight session to close at 31,309.49 while the National Stock Exchange Nifty scaled a new peak of 9,675.1 on sustained buying by domestic institutional investors and retailers ahead of Reserve Bank of India’s monetary policy this week.

Benchmark indices closed range-bound session higher on Monday after the Goods and Services Tax (GST) Council finalised rates for some commodities and looked confident of the indirect tax regime’s roll-out scheduled from July 1.

The 30-share Sensex scaled an all-time high of 31,355.42 (intra-day), breaking its previous record of 31,332.56, recorded on June 2.

Finally, the gauge ended higher by 36.2 points, or 0.12 per cent, to close at a new peak of 31,309.49, surpassing its previous record closing of 31,273.29, reached on June 2.

The 50-issue Nifty gained 21.6 points, or 0.22 per cent, to close at 9,675.1, surpassing its previous record closing of 9,653.5 on June 2. Its intra-day touched a high of 9,687.2, surpassing previous intraday high of 9,673.5 on Friday.

Among sectoral indices, consumer durables index rose the most by surging 5.81 per cent, followed by realty 1.02 per cent, capital goods 0.80 per cent, oil and gas 0.36 per cent, banking 0.35 per cent, information technology 0.26 per cent, automobile 0.22 per cent, and fast-moving consumer goods 0.08 per cent.

Broader markets too remained in bullish form, with small-cap and mid-cap indices climbing 0.65 per cent and 0.15 per cent, respectively.