Bharti Airtel (up 6.7 per cent) was the biggest gainer on the Sensex today, followed by Bajaj Finance, Bajaj Finserv, Asian Paints, TCS, Titan, and Tech Mahindra
The immediate supports for Nifty are placed around 16,600 and 16,500 while the levels to watch on the upside will be 16,800 and then 17,000 mark
The Nifty50 concluded the August expiry series with gains of 5.4 per cent; it has made higher highs and shallower lows for the last four weeks
Sectorally, the metals pack bled the most, down 1.3 per cent, followed by the PSB Index (down 0.8 per cent)
The Nifty IT index put up a strong show with a 0.7 per cent gain while the Nifty Realty index slipped 0.8 per cent.
Nifty is expected to surpass the intraday all-time high of 16,702
Sectorally, the Nifty IT index advanced 2 per cent while the Nifty Auto index tumbled 1.5 per cent
The 30-share Sensex index declined 300 points, or 0.4 per cent, and closed at 55,329 levels on Friday while the Nifty50 index slipped ended at 16,451 levels, down 118 points or 0.7 per cent
Earlier in the day, the 30-share index scaled mount 56,000 and hit a fresh record high of 56,118. The Nifty50, on the other hand, hit a new high of 16,702
ADX indicator has crossed the DI line on the upside, which indicates high momentum phase for the Nifty
The Nifty Metal index skidded 2.5 per cent
Large-cap PMS schemes gave average returns of 2.5 per cent, mid-cap schemes at 4.7 per cent, multi cap schemes 4.5 per cent and small-cap 9.1 per cent
The advance-decline ratio remained skewed in favour of seller, highlighting underlying bearishness in market.
We advise continuing with one step at a time approach and keep booking timely profits in the rally
On the contrary, broader indices underperformed and ended mildly lower
The Nifty IT index jumped 3 per cent and ended around record high levels of 32,245.
Stock market LIVE: In the broader markets, the BSE MidCap and SmallCap indices declined over 1 per cent each
The BSE MidCap added 0.10 per cent but the BSE SmallCap index slipped 0.43 per cent
The broader market, however, saw profit booking as, both, the BSE Mid and SmallCap indices declined 1 per cent each.