Sensex ends at record close; Eicher Motors leads

These 10 stocks are likely to benefit the most from RBI rate cut Time to buy

The equity benchmarks- Sensex and Nifty on Tuesday opened on a flat note after a buoyant start to the week on Monday. Improving monthly sales numbers from automakers and a firming trend in global markets fuelled the rally.

At 0618 GMT, the S&P BSE Sensex rose 0.02 percent to 32,522 while the broader NSE Nifty advanced 0.07 percent to 10,084. The gauge had risen 205.06 points in the previous session to close at an all-time high of 32,514.94. Meanwhile, the Nifty was trading higher by 23.95 points or 0.24% at 10,101.05 with 38 components gaining. It broke previous record closing of 10,077.10 hit yesterday.

However, both indexes fell briefly during the day after data showed that manufacturing PMI plunged in July to its lowest since February 2009, after Prime Minister Narendra Modi's new tax policy severely hurt output and demand.

What kept the gains in check was findings of a private survey which showed that manufacturing sector contracted in July following the GST launch as new orders and output dropped for the first time since the downturn in December previous year post demonetisation. "The rally came on buying in capital goods, metal, oil and gas, consumer durables and banking stocks", Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

Hero MotoCorp, M&M, Bajaj Auto and Tata Motors cruised.

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The NSE Nifty rose by 37.55 points, or 0.37 per cent, to close at a new high of 10,114.65 points, after touching a fresh intra-day high of 10,128.60 points.

The BSE market breadth was bullish with 1,312 advances and 1,177 declines.

Broader markets too reflected a similar trend.

DIIs bought shares worth a net Rs 424.67 crore while foreign portfolio investors net sold shares worth Rs 223.12 crore on Friday, as per provisional data.

A spell of profit-booking kicked in for realty and power sectors as well despite positive Asian shares.

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