Nifty Notches Fresh Highs; Broader Indices Outperform

Indian indices in trade today are trading firm with all of the Nifty sectoral indices in the green. Buying in the metal and pharma pack is majorly supporting gains today, leading Nifty index to fresh high again of 16,72.05. Broader markets further outperformed the headline indices with gains of over 1 percent towards the close of the session.

At the close, Sensex ended with gains of 176 points at 56,125, while Nifty ended at 16,705 points

Nifty Notches Fresh Highs; Broader Indices Outperform

In yet another firm trading session, Ultratech Cement, Hindalco, SBI Life Insurance, Larsen and Toubro and Dr Reddys Labs were the major gainers, while the losers in trade have been IndusInd Bank, Infosys, M&M, Nestle and Tata Consumer Products.

Among sectoral indices, metal, pharma, realty and IT index topped the gains, with the former two clocking gains of over 1 percent.

Meanwhile, European indices are down ahead of the Fed chairman's speech at the Jackson Hole Symposium, the annual research conference of the Federal Reserve for central bankers. This conference is cited to highly important for markets as the event has been previously also used to provide guidance about the Fed's likely next policy moves.

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