Indian shares end at record closing high; SBI top gainer

Sensex ends at record closing high SBI top gainer

Setting new records for the second day, the benchmark Sensex today closed at 32,575 and the Nifty at 10,115 as investors wait for the outcome of the RBI policy meet tomorrow amid corporate earnings momentum. Nifty, on the other hand, climbed 62.60 points, or 0.63%, ending at 10077.10 surpassing its previous record of 10020.65 recorded on July 26.

The gauge had risen 205.06 points in the previous session.

The Nifty rallied 23.95 points, or 0.23 per cent, to a new record high of 10,101.05, knocking off its previous intra-day high of 10,085.90 it touched yesterday.

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 a year ago post demonetisation.

The Nikkei India Manufacturing Purchasing Managers' Index (PMI), which is a composite indicator of manufacturing performance, stood at 47.9 in July from the index reading of 50.9 in June 2017.

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On the macro front, data released during market hours showed that India's manufacturing sector's output declined last month due to the launch of the Goods and Services Tax (GST) and weak demand. Power Grid, Tata Steel, ONGC, ICICI Bank, Kotak Bank, Infosys, Reliance, Maruti, among others too ended with gains.

Eicher Motors shares surged 5 per cent to be the top gainer in Nifty after the automaker reported a 21 per cent jump in July sales.

Among the laggards, Biocon fell 2 percent amidst news report that the USA drug regulator issued form 483 observations.

On BSE, 1,056 stocks were advancing whereas 1,618 stocks were lagging when the session ended.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold scrips worth Rs 945.83 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 1,390.65 crore.

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