Market Closing: Nifty Gains Over 1% To Top 17132 Levels

Indian indices are seeing relentless rally and that is broad-based. The surge continued even towards the close of the session. At the close, Sensex gained 663 points or 1.16% to 57,552 levels, while Nifty ended higher by 200 points to top 17132 levels. Broader markets however underperformed with gains of just over 0.58%. Bank Nifty after previous day's gains of over 2 percent, continued their upward trajectory.

Market Closing: Nifty Gains Over 1% To Top 17132 Levels

There has been seen across the board buying, with the media pack in the red trading with minor cut. Metal, IT and FMCG stocks traded higher with gains of over 1 percent.

In the strong market, top gainers on the Nifty included stocks like Ultratech Cement, Hindalco, SBI Life Insurance, Larsen and Dr Reddys Labs, while laggards included IndusInd Bank, Infosys, M&M, Tata Consumer Products and Nestle.

Reliance, the Nifty heavyweight scrip, is desperately moving into renewable and materials space through new acquisitions. The company in its 44th AGM said the company will be going global under its new energy business.

Bharti Airtel scrip is being rally ever since its CEO Sunil Mittal made comments in the conference call and expressed woes of the sector together with the confidence he showed. Shares of the telco have hit a new 52-week high.

Meanwhile, European indices traded mix with German DAX trading with gains of over 0.7%, while FTSE traded weak.

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