Sensex and Nifty came off intraday high levels as banking shares witnessed selling pressure.Domestic equity benchmarks rose for third day in a row with the SP BSE Sensex hitting a fresh record high of 39,115.57 and the broader NSE Nifty 50 Index advancing above its psychologically important level of 11,700 in intraday deals.
Buying interest in metal, information technology, auto, industrials and telecom shares supported the up move in domestic equity markets.
However, late selling pressure in banking shares weighed on the upward movement and the Sensex and Nifty came off intraday high levels.The SP BSE Sensex rose 164.27 points or 0.42 per cent to close at 38,837.18 and the NSE Nifty 50 Index advanced 45 points to shut shop at 11,669.Six of 11 sector gauges compiled by the National Stock Exchange ended lower led by Nifty Realty Index's 0.87 per cent decline.
Nifty Private Bank, Nifty Bank, Financial Services, and Media indexes also dropped over 0.5 per cent each.
On the flipside, Nifty Metal Index was top gainer, up 1.8 per cent.
Information Technology and PSU Bank sector gauges also rose over 1 per cent each.Mid- small-cap shares also saw buying interest as the Nifty Midcap 100 Index rose 0.28 per cent and the Nifty Smallcap 100 Index advanced 0.95 per cent.Tata Motors was top gainer in the Nifty 50 basket of shares, the stock rose 7.5 per cent to Rs 187.30.
Hindalco, Bharti Airtel, Wipro, Maruti Suzuki, Tata Steel, Vedanta and Reliance Industries were also among the gainers.
On the other hand, Zee Entertainment, UPL, Eicher Motors, Indian Oil, IndusInd Bank, Indiabulls Housing Finance, Axis Bank and Titan were among losers.The overall market breadth was positive as 1,697 shares ended higher while 906 closed lower on the BSE.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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