Nifty Hits All-Time High, Sensex Retreats - Stock Market Update

Mumbai, Jul 5 (PTI) The broader NSE benchmark Nifty advanced further to settle at an all-time high for the third straight session on Friday, while the BSE gauge Sensex retreated from the record to slip below the 80k level.

The broader NSE Nifty rose 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85.

The 30-share BSE Sensex dropped 53.07 points or 0.07 per cent to settle at 79,996.60.

Among the 30-share Sensex pack, State Bank of India, Reliance Industries, Hindustan Unilever, NTPC, Larsen & Toubro, Nestle India, Power Grid, ITC, JSW Steel and Sun Pharmaceuticals were the major gainers.

On the other hand, HDFC Bank, Titan, Mahindra & Mahindra, IndusInd Bank, UltraTech Cement, Tata Motors, HCL Technologies and Asian Paints were among the laggards.

"The domestic market traded with a mixed bias, with the heavy-weight banking sector acting as a laggard. Adding to the worry are the top lending banks, which recorded a sequential decline in deposit growth in the June quarter.

"Midcap and Small Cap outperformed, and the respective BSE indices hit an all-time high," Vinod Nair, Head of Research at Geojit Financial Services, said.

Asian markets were closed on a mixed note on Thursday.

The US markets were closed on Thursday for Independence Day.

On Thursday, the 30-share BSE Sensex scaled an intraday record high of 80,392.64 in early trade. Later, the Sensex closed 62.87 points or 0.08 per cent higher at 80,049.67, its all-time closing high.

The broader Nifty also hit an intra-day record high of 24,401 in early trade before closing almost flat. The 50-issue index rose by 15.65 points or 0.06 per cent to settle at a record 24,302.15.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore, according to exchange data.