Sensex closes at record high, Nifty at 13,932; ITC, SBI, HCL Tech top gainers

Market indices continued racing to fresh peaks on Tuesday for the fifth straight session and ended at record highs, tracking gains in index majors, amid a broad-based rally in global markets. After opening at lifetime highs, Sensex ended 259 points higher at 47,613 and Nifty gained 59 points to close at 13,932. During today's session, Sensex hit an all-time high of 47,714 and Nifty logged a lifetime high of 13,967.

On Sensex, IndusInd Bank, SBI, ITC, Infosys, HCL Tech, Tech Mahindra, Axis Bank, HDFC Bank and Bajaj Auto were among the top gainers.

On the other hand, Bajaj Finserv, L&T, HUL, Maruti, RIL, M&M, Titan and PowerGrid ended with losses.

Sectorally, gains in banking, financials and IT index were capped by losses in media, metal, auto, pharma and realty.

Globally, markets were trading at record highs today as hopes that a long-awaited U.S. pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetites.

US markets closed higher after President Trump signed $900 bln economic relief bill into law extending unemployment benefits to millions of Americans.

European markets traded higher as traders reacted to Brexit developments and signing of covid-19 relief bill by Trump in US.

Expressing views on Nifty's technical outlook, Rohit Singre, Senior Technical Analyst at LKP Securities said,"One more positive session and index closed a day at 13927 with gains of half a per cent forming a small Doji kind of candle pattern on the daily chart. The index has formed a good base near 13800 zone holding above said levels we may see 14k mark in nifty soon which is immediate hurdle on the higher side. The nifty bank looks more lucrative at the moment as the index has witnessed a fresh breakout above 31k mark now going forwards it will act as fantastic support and if managed to hold above 31k mark we may see good move in the nifty bank towards 31500-32000 zone."

Vinod Nair, Head of Research at Geojit Financial Services said, "It was a volatile day, started well but edged lower losing all the gains, in the end, the markets recovered much of the losses and closed with a small upside. Finance stocks were the major contributors in the upside but broader market underperformed the main benchmark. Selling was seen in auto, pharma and metal sectors among others too. A major part of the global developments like stimulus and Brexit deal are priced in the market. In the absence of major domestic or global events expected in the near-term, the market will focus on the upcoming Q3 earnings and stock-specific updates."

On the currency front, rupee appreciated by 7 paise to close at 73.42 per US dollar today, tracking weakness in the American currency and positive domestic equities.

Stocks in news: Coal India, NTPC, Lupin, Biocon, HDFC Bank, SBI Life

Share Market News Live: Sensex rises 100 points, Nifty at 13,873 for first time; Titan, L&T, ONGC top gainers