MUMBAI: The sensex on Wednesday ticked higher to scale yet another lifetime closing peak of 77,338, while the broader Nifty retreated from the record-high level amid a lack of immediate triggers.
In a volatile trading session, the emergence of profit booking in consumer durables, capital goods and energy shares negated strong gains in banking and financial stocks.
Rallying for the fifth straight session, the sensex climbed 36 points to settle at a new closing high of 77,338. During the day, it soared 550 points or 0.7% to hit the fresh lifetime peak of 77,852. The Nifty ended at 23,516, down 42 points. Intraday, it rose 106 points to hit a new record of 23,664.
“Strong buying in banking stocks helped sensex sail through in a highly volatile trading session, while Nifty ended weak as investors booked profit in auto, metals, oil & gas, telecom and realty shares after the recent upsurge. Ahead of the Budget, markets may see stock & sector-specific activities on hopes govt may increase the outlay for sectors to push growth,” Prashanth Tapse, senior VP (research) at Mehta Equities, said.Among the sensex companies, Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IndusInd Bank, SBI, Infosys, Wipro, Tech Mahindra and HCL Technologies were the gainers. agencies