Quarterly, auto results lift Indian equities, Nifty closes above 10,100-mark
Mumbai, India - Healthy quarterly results, coupled with a surge in automobile stocks on the back of positive July automobile results, lifted the Indian equity markets to a new high on Tuesday.
The key Indian equity indices, which traded on a flat note for most part of the session due to profit booking, provisionally closed in the green at fresh highs.
Besides, hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI) kept investors’ sentiments buoyed.
The wider Nifty50 of the National Stock Exchange (NSE) provisionally closed above the psychologically important 10,100-mark for the first time.
The NSE Nifty rose by 37.55 points, or 0.37 per cent, to close at a new high of 10,114.65 points, after touching a fresh intra-day high of 10,128.6 points.
Similaly, the 30-scrip Sensitive Index (Sensex) of the BSE closed at a fresh high of 32,575.17 points - up 60.23 points, or 0.19 per cent, from its previous close of 32,514.94 points.
The Sensex scaled a high of 32,632.02 points and a low of 32,462.25 points during intraday trade.
However, the BSE market breadth was bearish with 1,618 declines and 1,056 advances.