An evening walk down Dalal Street

Continuing its bullish momentum from Monday, led by gains in midcaps, the market end the day on a strong note. The Sensex and Nifty managed to close at a record high.

It was a good start to the day, with the 30-share index clocking a fresh record in the opening minutes of trade, led by gains in midcaps as well as metals, pharmaceuticals, and infrastructure names. Cement and automobiles too managed to lift the market.

The Nifty also clocked 11,100 and traded comfortably above the mark for a greater part of the day. The Street did manage to give up some gains in the afternoon, only to recover in the last hour, led by a comeback of sorts among major sectoral indices. Buying was back in the last hour across the sectors that were in the green. Midcaps, too, added to their gains.

The Sensex closed up 106.50 points or 0.29% at 36825.10, while the Nifty was up 49.50 points or 0.45% at 11134.30. The market breadth is positive as 1,940 shares advanced, against a decline of 675 shares, while 150 shares were unchanged.

Metals ended the day with gains of around 3 percent, followed by infrastructure, pharmaceuticals, and PSU banks. The Nifty Midcap index managed to end over a percent higher.

Larsen & Toubro, Vedanta, Grasim and Hindalco were the top gainers, while Kotak Mahindra Bank and Hero MotoCorp lost the most.