Stock Market: Stock market closed at all-time high, Nifty crossed 26,000 for the first time

Mumbai: Indian stock markets closed at all-time highs in Wednesday’s trading session. During the day, both the Sensex and Nifty hit new all-time highs of 85,247 and 26,032, respectively. At the end of trading, the Sensex closed 255 points or 0.30 per cent higher at 85,169 and the Nifty closed 63 points or 0.25 per cent higher at 26,004.

Midcap and smallcap stocks witnessed selling as compared to largecaps. The Nifty Midcap 100 index closed 385 points or 0.63 per cent lower at 60,465 and the Nifty Smallcap 100 index closed 82 points or 0.42 per cent lower at 19,357.

NSE’s Fin Services, Pharma, Metal, Realty, Media, Energy, Private Bank, Infra, PSE and Services indices closed in the green. Auto, IT, PSU banks and FMCG ended in the red.

Power Grid, Axis Bank, NTPC, Bajaj Finserv, Bajaj Finance, Tata Steel, HDFC Bank, M&M, ITC, ICICI Bank and HCL Tech were the top gainers in the Sensex pack. Tech Mahindra, Tata Motors, Titan, Kotak Mahindra Bank, SBI, JSW Steel, Wipro were the top losers.

Rupak De, Senior Technical Analyst, LKP Securities, said that despite a weak opening, Nifty managed to close at a new all-time high. As long as Nifty stays above 25,900, the trend is expected to remain positive. It seems that the market will trade in a range of positive trends for some time. 26,200 and 26,250 are resistance levels.