Nifty hits new high amid some caution

Mumbai: India’s equity indices ended at record levels on Thursday with the Nifty closing above 20,100 for the first time. Gains in these benchmarks were muted as mid- and small-caps stocks outperformed their large-cap peers.

NSE‘s Nifty gained 33 points or 0.16% to close at 20,103 after touching an all-time high of 20,167. BSE’s Sensex rose 52 points or 0.08% to end at 67,519. The index hit an all-time high of 67,771 earlier in the day.

“Large-cap stocks are witnessing a catch-up now and we have seen this shift towards large cap stocks for the past two weeks,” said Rohit Srivastava, founder “In August, Nifty was down for five consecutive weeks, which led to a diversion in mid-cap and large-cap stocks.”

He expects the Nifty to do better than small-cap and mid-caps from here on.


Nifty Midcap 150 gained 0.93% and Nifty Smallcap 250 advanced 1.22% on Thursday. Both the indices have gained in the past two trading sessions and recovered part of the 3-5% fall on Tuesday.”Mid-caps and Small-caps saw a fall only one day after a rally of almost 15-16 weeks. It was only a correction but there has been no liquidation situation yet,” said Rajesh Palviya, head-technicals and derivatives, Axis Securities.Srivastava said Nifty will see strong support at 20,040 and the resistance would be 20,350 in the next one week.

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