Sensex, Nifty hit new record highs on firm global trends

The key domestic share indices ended higher on Tuesday amid positive global sentiments. The BSE sensex closed near 71,500 mark while the NSE Nifty settled above 21,450 level.The Sensex rose 122 points to end at 71,437 and the Nifty added 34 points to finish at 21,453.The BSE Smallcap index also hit its fresh record high of 42,544.95 during the session, before settling at 42,327.60, up 0.10 per cent.However, the midcap index failed to perform. The BSE Midcap index ended with a loss of 0.31 per cent at 36,186.10.
Stocks and Sectors
On Tuesday, nearly 360 stocks, including IndusInd Bank, Larsen & Toubro, Nestle, NTPC, SBI, and Sun Pharma, hit their fresh 52-week highs in intraday trade on BSE.Nifty FMCG index clocked a gain of 1.41 per cent, ending as the top gainer among the sectoral indices.Nifty Consumer Durables (up 0.82 per cent), Oil & Gas (up 0.80 per cent) and PSU Bank (up 0.79 per cent) also clocked significant gains.On the flip side, Nifty IT (down 0.95 per cent), Auto (down 0.75 per cent), Media (down 0.74 per cent) and Metal (down 0.67 per cent) ended as the top losers among sectoral indices.
Experts Take
The broader market sustained its optimism, but the incremental rally is contracting. Investors are cautious ahead of the Eurozone inflation data announcement, which is forecast to drop marginally. Market experts have recommended six stocks to buy for Monday- shares of Coal India , Nestle and NTPC ended as the top gainers in the Nifty 50 index.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)