Nifty Crosses 18,700 Mark For the First Time in Six Months

Nifty Crosses 18,700 Mark For the First Time in Six Months

Benchmark indices ended on strong note on June 7 with Nifty closing above 18,700 due to buying across the sectors. The Nifty 50 Index hit the highest level in over six months during intraday trade, with shares of Britannia and Nestle India hitting record high.

Both Sensex and Nifty advanced on June 7, led by consumer stocks, ahead of the Reserve Bank of India’s monetary policy decision and on hopes of an interest rate pause by other major central banks. All the 13 major sectoral indices logged gains, with high weightage financials and information technology rising 0.3 percent and 0.4 percent, respectively.

At close, the Sensex was up 350.08 points or 0.56 percent at 63,142.96, and the Nifty was up 127.40 points or 0.68 percent at 18,726.40. About 2,214 shares advanced, 1,244 shares declined, and 124 shares unchanged.

Biggest gainers on the Nifty were Britannia Industries, Tata Consumer Products, BPCL, Nestle India and HDFC Life, while losers were Cipla, Kotak Mahindra Bank, Bajaj Finance, M&M and Maruti Suzuki.

Other sectoral indices ended in the green with capital goods, metal, oil and gas, FMCG, power, and realty up 1 percent each. The BSE midcap and smallcap indices also added 1 percent each.