BSE midcap, smallcap indices close at new highs The S&P BSE Midcap and the S&P BSE Smallcap indices settled at their respective new highs on the closing basis on the BSE, following a strong rally in education, pharmaceutical, chemicals, infrastructure and jewellery stocks. The S&P BSE Smallcap index ended at record high of 17,943.86 on closing level on Thursday surpassed its previous high of 17,910.90 on November 6, 2017. The S&P Midcap index too closed at new high of 16,836.18, surpassed it earlier high of 16,794.23 on November 21, 2017. READ MORE Vinod Nair, Head of Research, Geojit Financial Services Market traded between gains and losses due to subdued trend in global market. After the completion of Q2 results, investors are looking for fresh triggers, upcoming state elections will be a key catalyst in the direction. On the global front, US Fed’s divergence in opinion on inflation growth in the minutes may refrain the chair to take aggressive rate hike in December which is positive for Indian market. Sectoral trend Source: NSE Market breadth Market breadth, indicating the overall health of the market, remained positive. 1,442 shares gained, 1,254 shares declined, while 158 shares remained unchanged. Sensex heatmap at close Source: BSE Markets at close The S&P BSE Sensex settled at 33,588, up 26 points, while the broader Nifty50 ended at 10,348, up 6 points.
In a volatile trading session, the benchmark indices ended flat with the Nifty settling below 10,350 as the market consolidated in want of fresh triggers after the September quarter earnings season wound down. Shares of insurance companies shed up to 5% after the Finance Ministry formed a task force to study and submit a report on redrafting of the direct tax code within six months. Meanwhile, a rally in oil prices continued to reduce expectations of rate cuts ahead of the Reserve Bank of India’s policy meeting early next month. Overseas, ...
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