Nifty Opens At Another Record High; Gas Stocks Jump

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Benchmark indices opened the day higher with the Nifty hitting another record high on sustained buying support. The Nifty hit 10,166 points before selling pressure at higher levels ensured that the markets turned flat.

Nifty Opens At Another Record High; Gas Stocks Jump
The Sensex was last seen trading 6 points lower, while the Nifty lost  3 points in trade. Leading the set of gainers was Tata Motors, which jumped as much as 4 per cent in early trade at Rs 421. Gas stocks were in the limelight after reports by Morgan Stanley that benign gas prices would help support some of these companies.

Among the early gainers were Gujarat Gas, Gas Authority of India and Indraprastha Gas. Midcap indices also continued to soar with stocks like Tata Global Beverages and Ajanta Pharma among the winners. Meanwhile, Asian markets were seem some selling pressure, though the Japanese index was up sharply by more than 1.5 per cent.

Shares in Bharat Road, which listed on Monday saw some profit booking and was trading 3 per cent lower.

All eyes would now be on the US Federal Reserve, which begins its two-day policy meet today. Any hints at further interest rate hikes could put pressure on the global markets and also on the Indian markets.

Many analysts are advising caution as the gains this year in stocks has been substantial.

Read more about: sensex, nifty
Story first published: Tuesday, September 19, 2017, 9:53 [IST]
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