Nifty hits record closing high to end above 9,050 for first time ever The broad market depicted strength. 1,686 shares rose and 1,135 shares fell
The benchmark Nifty50 index on Tuesday closed above its crucial 9050-mark for the first time ever as investors saw Prime Minister Narendra Modi's landslide victory in the Uttar Pradesh as an indication of him winning a second term in office in Lok Sabha elections 2019.
In intraday trade, the Nifty50 rose as much as 2% to hit its record high of 9,122 points surpassing its previous peak of 9,119 hit on March 4, 2015. The S&P BSE Sensex, meanwhile, gained 615 points to 29562 during the day, 463 points shy of its lifetime high of 30,025-mark.
The 30-share Sensex settled the trade at 29,443, up 496 points, while the broader 50-share Nifty ended at 9,087, up 152 points.
In the broader market, The BSE Mid-Cap and BSE Smallcap indices underperformed the frontline indices by rising 1.4% and 1.2%, respectively.
The market breadth, indicating the overall health of the market, remained strong. 1,686 shares rose and 1,135 shares fell. A total of 224 shares were unchanged.
The India volatility index (VIX), a gauge of the market's short-term expectation of volatility, fell over 11%.
The market is trading at a price-to-earnings ratio of 19.85 over the next 12 months, compared with their five-year historic average of 17.8, according to Thomson Reuters data. Read more