Stock Market Maintains Winning Momentum For Sixth Straight Day, Hits New Highs

Stock update: The BSE Sensex rose 177 points to settle at 62,682, while the broader NSE Nifty advanced 55 points to end at 18,618, its fresh record closing high

On the S&P BSE Sensex platform, Hindustan Unilever, Sun Pharma, Nestle, Dr Reddy's, Tata Steel, ICICI Bank, Titan, and HCL Technologies were the major winners.

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Sensex and Nifty, the two key equity benchmarks, on Tuesday extended their winning run for the sixth straight trading session and ended at fresh lifetime peaks amid a largely firm trend in other Asian markets and continuous foreign fund inflows.

The BSE Sensex rose 177 points (0.28 per cent) to settle at 62,682, its fresh record closing high. During the day, it jumped 382 points (0.61 per cent) to its lifetime intra-day peak of 62,887. On the other hand, the broader NSE Nifty advanced 55 points (0.30 per cent) to end at 18,618, its fresh record closing high.

On the 30-share Sensex platform, Hindustan Unilever, Sun Pharma, Nestle, Dr Reddy's, Tata Steel, ICICI Bank, Titan, and HCL Technologies were the major winners. On the flip side, IndusInd Bank, Bajaj Finserv, Maruti, Power Grid, and Larsen & Toubro were among the major losers.

The market breadth of the 30-share Sensex platform stood neutral as 15 scrips advanced while the other 15 declined.

In the previous session on Monday, the BSE Sensex climbed 211 points to settle at 62,505, its fresh record closing high. The broader NSE Nifty gained 50 points to end at 18,563, its record closing high.

"Indian markets opened on positive note following positive overall Asian markets... During the afternoon session the markets continued their positive trend with heavy buying in FMCG and consumer durables stocks. Sentiments remained optimistic as data showed that foreign portfolio investors have infused funds worth Rs 32,344 crore in the Indian stock markets so far in the month of November and became net buyers again," said Narendra Solanki - head fundamental research- Investment Services, Anand Rathi Shares & Stock Brokers.

Elsewhere in Asia, markets in Seoul, Shanghai, and Hong Kong ended higher, while Tokyo settled lower. Equity exchanges in Europe were trading mostly lower in the afternoon trade. Wall Street had ended in the negative territory on Monday.

International oil benchmark Brent crude was trading 2.45 per cent higher at $85.23 per barrel.

Foreign Institutional Investors (FIIs) bought shares worth Rs 935.88 crore on Monday, as per exchange data.

Meanwhile, the rupee slipped 3 paise to close at 81.71 (provisional) against the US dollar on Tuesday as rising crude oil prices in the international market weighed on forex market sentiment.

At the interbank foreign exchange market, the local unit opened strong at 81.58 but later slipped into the negative territory. During the session, it touched an intra-day high of 81.57 and a low of 81.74 against the greenback. The local unit finally settled at 81.71, registering a decline of 3 paise over its previous close of 81.68.