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Sensex trades higher after opening at record level

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Mumbai, May 27:  India equity benchmarks opened at record levels on Monday following positive action in global peers.

At the opening, Senex and Nifty hit new all-time highs of 75,679 and 23,043 respectively.

At 10.20 a.m., Sensex was up 60 points or 0.08 per cent, at 75,465 points, and Nifty was trading flat.

Midcap and smallcap stocks are performing better as compared to largecap. The Nifty midcap 100 is up 111 points or 0.21 per cent at 52,529 points and the Nifty smallcap 100 is up 38 points or 0.24 per cent at 16,926 points.

Indian Volatility Index, India VIX is up 5.02 per cent at 22.80 points.

Among the sector indices, IT, PSU Bank, Fin service, Reality, FMCG, and Pvt bank are major gainers. Auto, Metal, Energy, Media, and Infra are major laggards.

Kotak Mahindra Bank, HDFC Bank, TCS, IndusInd Bank, Ultratech Cement, Tata Steel, and HUL are top gainers.

Wipro, Maruti Suzuki, NTPC, Power Grid, M& M, Tata Motors, Reliance, and Asian Paints are top losers.

Buying is being seen in Asian markets. The markets of Tokyo, Shanghai, Hong Kong, Bangkok, and Jakarta are in the green. US markets closed flat in Friday’s trading session. In crude oil, Brent crude remains at $ 82 per barrel and WTI crude at $ 78 per barrel.

Vaishali Parekh, Vice President-Technical Research, Prabhudas Lilladher Pvt. Ltd said: “Nifty witnessed a decent gain during the week, scaling the all-time high zone and breaching above the 23,000 levels to strengthen the trend and sentiment maintained positive.”

“The index is maintained buoyant with further targets of 23,200 and 23,500 levels expected in the coming days and would have 22,800 as the important near-term support zone which needs to be sustained,” Parekh further said.

–IANS

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