Sensex, Nifty record new highs ahead of RBI policy decision

09:48 AM	
	Top gainers on NSE

Market breadth was in the favour of gainers, with about 2 stocks advancing to every 1 stock that declined.

"Markets rallied further on Tuesday to close at new life highs".

The Nifty rallied 23.95 points, or 0.23 per cent, to a new record high of 10,101.05, knocking off its previous intra-day high of 10,085.90 it touched yesterday.

In the Nifty chart, Eicher Motors (up 4.88 per cent), Indiabulls Housing Finance (up 4.83 per cent), Tech Mahindra (4.09 per cent), Bharat Petroleum Corporation (up 2.93 per cent), Bosch (up 2.88 per cent) and Hindalco Industries (up 2.71 per cent) stood as top gainers.

The 50-share barometer of NSE was little changed after the wee minutes of trade, up 0.21% at 10,098.4 while BSE Sensex traded marginally higher up 0.14% at 32,561.79 points.

The S&P 500 information technology dipped 0.53 per cent, with Facebook falling 1.86 per cent and Alphabet, Google's parent company, down 1.34 per cent.

On the currency front, the rupee strengthened by 11 paise to 64.07-08 to a U.S. dollar from its previous close at 64.18-19. "Private survey showing Indian manufacturing activity contracting in July kept gains of indices under check", said Deepak Jasani, Head of Retail Research, HDFC Securities.

"Market started range-bound due to weak manufacturing data and caution ahead of the RBI monetary policy tomorrow".

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 945.83 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 1,390.65 crore. On the other hand, consumer durables index fell 0.75 per cent, capital goods 0.37 per cent, power 0.08 per cent and PSU 0.07 per cent. Bank of Baroda was the top Nifty loser, down 1.53 per cent. SBI, Canara Bank and PNB were the other banking losers, falling between 1 per cent and 2 per cent.