An evening walk down Dalal Street

Another day, another record close for benchmarks! Bulls seem to be in no mood to give up their momentum as the market shrugged off any chances of having Monday blues to end the day at record closing highs.

The week began on a strong note for the market with Nifty managing to scale 11,400 in the first few minutes of trade, while the Sensex too clocked 37,800-mark in the first hour.

The rally was largely supported by banks, auto, metals as well as energy names, while traditional defensives, IT and pharmaceuticals, took a hit. In the broader markets, midcaps too managed to end in the green, with the Nifty Midcap ending 0.45 percent higher.

However, bears tried to put up a tough fight in the last hour and were inflict some damage as well. Both Sensex and Nifty managed to end the day off the day’s high points.

The Sensex closed up 135.73 points or 0.36% at 37691.89, while the Nifty ended 26.30 points higher at 11387.10. The market breadth was narrow as 1,605 shares advanced, against a decline of 1,121 shares, while 176 shares were unchanged.

Axis Bank, State Bank of India, and ICICI Bank were the top gainers, while Tata Motors, Kotak Mahindra Bank, GAIL and Dr Reddy’s Labs lost the most.