Nifty hits record closing high to end above 9,050 for first time ever

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Nifty 

The benchmark Nifty50 index on Tuesday closed above its crucial 9050-mark for the first time ever as investors saw Prime Minister Narendra Modi’s landslide victory in the Uttar Pradesh as an indication of him winning a second term in office in Lok Sabha elections 2019.

 

In intraday trade, the Nifty50 rose as much as 2% to hit its record high of 9,122 points surpassing its previous peak of 9,119 hit on March 4, 2015. The S&P BSE Sensex, meanwhile, gained 615 points to 29562 during the day, 463 points shy of its lifetime high of 30,025-mark.

 

The 30-share Sensex settled the trade at 29,443, up 496 points, while the broader 50-share Nifty ended at 9,087, up 152 points.

 

In the broader market, The BSE Mid-Cap and BSE Smallcap indices underperformed the frontline indices by rising 1.4% and 1.2%, respectively.

 

The market breadth, indicating the overall health of the market, remained strong. 1,686 shares rose and 1,135 shares fell. A total of 224 shares were unchanged.

 

The India volatility index (VIX), a gauge of the market’s short-term expectation of volatility, fell over 11%. Read more

 

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