Sensex, Nifty scale fresh record high

Key benchmark indices trimmed gains soon after hitting fresh record high in mid-morning trade. At 11:23 IST, the barometer index, the S&P BSE Sensex, was up 132.84 points or 0.36% at 36,991.07. The Nifty 50 index was up 36.75 points or 0.33% at 11,168.75. Most realty stocks fell. Better-than-expected June 2018 quarterly results from index pivotals boosted sentiment on the domestic bourses.

The Sensex was currently trading a tad below the psychological 37,000 mark after scaling a record high above that level in mid-morning trade. The Nifty also scaled fresh record high. Domestic stocks nudged higher in early trade buoyed by better-than-expected June 2018 quarterly results from index pivotals.

Trading could be volatile as traders roll over positions in the F&O segment from the near month July 2018 series to August 2018 series. The July 2018 F&O contracts expire today, 26 July 2018.

The S&P BSE Mid-Cap index was up 0.75%. The S&P BSE Small-Cap index was up 0.45%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1272 shares rose and 905 shares fell. A total of 106 shares were unchanged.

Index heavyweight and cigarette major ITC rose 1.03% ahead of its April-June 2018 earnings today, 26 July 2018.

Maruti Suzuki India rose 0.41% ahead of its April-June 2018 earnings today, 26 July 2018.

Yes Bank fell 0.29% ahead of its April-June 2018 earnings today, 26 July 2018.

Most realty stocks fell. Indiabulls Real Estate (down 1.35%), DLF (down 0.57%), Housing Development and Infrastructure (down 1.29%), Unitech (down 2.09%), Godrej Properties (down 0.11%) and Prestige Estates Projects (down 0.39%) fell. Oberoi Realty (up 2.79%), D B Realty (up 1.3%) and Sobha (up 0.93%) rose.

Overseas, most Asian stocks fell as investor relief at US President Donald Trump and the European Commission chief's plan to ease trade tensions was offset by disappointing US earnings. US equities advanced Wednesday, after US President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war.

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