Sensex, Nifty Log Record Closing Levels; RIL Gains 4%

Sensex and Nifty after hitting record highs in early trade on September 3 continued with their winning run and ended at record high. Broader markets also had a sharp rally with Mid-cap index also hitting record high. There are anticipations that broader markets which corrected in August will see recovery in the ongoing month.

Sensex, Nifty Log Record Closing Levels; RIL Gains 4%

At the close, Nifty ended at 17323.6, while Sensex gained 277 points higher at 58,129.9.

Top Nifty gainers in a strong market have been Relince, ONGC, Coil India, IOC and Titan Company, while losers in trade have been HDFC Life, Cipla, HUL, Bharti Airtel and HDFC Bank.

Sectorally there was seen weakness in private banks, financial services and FMCG space, while the most strength was seen in case of the metal and realty pack. In the early morning trade there was seen heavy buying in realty and PSU Bank space.

"Benchmark index the Sensex touched the 58,000 mark for the first time today. The rally is driven by IT, pharma and metal stocks.The markets is making new highs daily. For the long term, we are bullish, however, after such a move, the market might see some correction. Investors are advised to keep trailing stop losses to their position", said Equity 99 co-founder.

Meanwhile, European indices traded mixed with French CAC down in trade, while German DAX and FTSE up by a tad.

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