Sensex ends above 85K for first time, Nifty crosses 26K
Benchmark indices BSE Sensex and NSE Nifty50 reversed early losses and scaled new highs and finally ended at record-high closing levels.
The Sensex added 255.83 points or 0.30 per cent to settle at 85,169.87. During intraday trade, the index scaled a record high of 85,247.42. Similarly, Nifty 50, Nifty started the day on a negative note, but as the day progressed the index gained bullish momentum, registered a new life-time high of 26,032.80 and finally settled the day on a positive note near 26,004.
The volatility index, INDIA VIX, cooled down by 7.37 per cent, settling at 12.41, indicating a decrease in market volatility.
In as far as performance is concerned, Media stocks outperformed the other sectoral indices. Bank Nifty, Financial Services, Metal, Pharma, Private Bank and Realty indices ended higher, while IT, FMCG and Auto indices settled in the red on Wednesday.
Also, Bank Nifty started the day on a negative note, but as the day progressed the index gathered a bullish momentum and finally Bank Nifty index settled on a positive note at 54,102.
According to experts, the Nifty50 index is on the verge of crossing the upper trend line resistance of the channel pattern, which is around the range of 26,000 levels.
