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No Monday blues on D-Street! It’s a record closing high for Sensex, Nifty

Positive global cues, a recovery in rupee along with a rally in banks and index heavy weights helped the market kick off the week on a very strong note. Both indices managed to end at record closing highs.

The Nifty managed to hit 11,500 for the first time ever, while the Sensex comfortably traded above 38,000-mark. Strong cues dominated the activity on D-Street through the day and marginally off the high point of the day.

Midcaps, too, had a good trading day, ending almost a percent higher as investors rushed to park funds in this space as well.

At the close of market hours, Sensex closed up 330.87 points or 0.87% at 38278.75, and the Nifty ended higher by 81.00 points or 0.71% at 11551.80. The market breadth is positive as 1,455 shares advanced, against a decline of 1,280 shares, while 190 shares were unchanged.

Among stocks, L&T and Tata Motors were the top gainers, while Infosys, Maruti Suzuki, and GAIL were the top losers.

Share price of Indian Hume Pipe Company surged 6 percent as company won a new order worth Rs 256 crore.

Godrej Consumer Products: The share touched 52-week high of Rs 1,398.85, rising 4 percent as Macquarie maintained outperform rating on stock with target of Rs 1465 per share.

SBI Mutual Fund seeks SEBI nod for Nifty 200 Quality 30 index ETF

The crucial resistance for Nifty spot is now seen at 11600 and above this 11750 Support for the immediate term is now placed at 11400 next support will be 11250.

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