Sensex, Nifty Off Record Highs Today

Sensex: Domestic benchmark equities came off record highs in the early afternoon session. The BSE benchmark Sensex was trading 90 points higher at 55,500 levels. The index hit new high of 55,680 today.

Sensex, Nifty Off Record Highs Today

Its NSE counterpart Nifty50 was up 12 points and hovered near the 16,550 mark. The 50-pack index hit fresh peak of 16,585. The broader markets underperformed benchmark as BSE Midcap index lost 0.13 per cent and BSE Smallcap 0.40 per cent.

Globally, Japan’s Nikkei slipped 2 per cent, Australia’s ASX 200 fell 0.4 per cent, and MSCI’s broadest index of Asia-Pacific shares outside Japan traded flat. South Korea’s markets are closed on Monday for a holiday.

Avenue Supermarts, the owner of D-Mart chain of retail stores, surpassed private sector lender Axis Bank and the construction and engineering giant Larsen & Toubro (L&T) in market capitalisation (market-cap) ranking as the stock of the department stores hit a new high on the BSE in intra-day trade on Monday.

At 11:41 am, with market-cap of Rs 2.36 trillion, Avenue Supermarts stood at the number 16th position in the overall market-cap ranking, ahead of L&T (Rs 2.332 trillion) and Axis Bank (Rs 2.334 trillion), the BSE data shows. The fast-moving consumer goods (FMCG) and cigarettes company ITC, with Rs 2.61 trillion market-cap stood ahead of Avenue Supermarts, data shows.

Sensex, Nifty Off Record Highs Today

Cash management company CMS Info Systems has filed preliminary papers with markets regulator Sebi to mop up Rs 2,000 crore through its initial share sale offering. The company’s initial public offer (IPO) is a pure offer for sale by promoter Sion Investment Holdings Pte Limited, an affiliate of Baring Private Equity Asia, as per the draft red herring prospectus (DRHP).

Sensex: The shares of Maruti Suzuki India are trading below both the major moving averages i.e 200-days moving average (DMA) and 200-weekly moving average (WMA) placed at Rs 7,215 and Rs 7,293 levels, respectively. This breakdown shows a negative bias that may lead to a bearish sentiment in the days ahead, if crucial support of Rs 6,758 is broken, which is its 100-WMA.

Exxaro Tiles has made a quiet debut on the bourses with the shares of the company listing at Rs 126, a 5 per cent premium against issue price of Rs 120 per share on the BSE and the National Stock Exchange (NSE). Post listing, the stock of construction materials company moved higher to Rs 132.30, a 10 per cent gain as against issue price on both the exchanges. At 10:56 am; the stock was trading at Rs 128 on the BSE. A combined 3.2 million equity shares changed hands on the counter on the NSE and BSE.

Sensex, Nifty Off Record Highs Today via @marketinvestor
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