Sensex, Nifty continue to climb new peak; JSW Steel, Wipro, DHFL stocks gain

The stock market of India continued to climb the new peak as both Sensex and Nifty closed at its all-time high after the Closing Bell. The BSE Sensex closed 206 points higher at 41,558 after making its all-time high of 41,614.77. The 50 stocks Nifty closed 59 points higher at 12,224 after making its life-time high of 12,237.70. Bank Nifty soared 104 points and closed at 32,244 levels.

Speaking on the current stock market scenario Prakash Pandey, MD & CEO at Plutus Advisors said, "This continuous rise in the Indian stock market is because of the foreign institutional investors (FIIs) money being pumped into the Indian equity market. This trend is expected to continue till the end of the year as AMC fund managers are trying to maximise the mutual fund NAV returns. So, I would advise equity investors to maintain buy on dips maintaining strict stop loss as there can be sharp correction taking place after 31st of December 2019."

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Metal stocks led the bull run in the intraday trade at Dalal Street as the BSE Metal index soared 0.84 per cent. Metal major JSW Steel share price shot up 2.22 per cent, NMDC shares scaled 2.82 per cent, Tata Steel stock price went 1.16 per cent higher while Vedanta, Jindal Steel & Power ended up on higher side.

Taking benefit of the weak dollar forecast, IT stocks also witnessed some fresh buying in the intraday trade. IT majoar Aptech share price scaled 3.85 per cent, Cyient shares went up 4.52 per cent, D-Link (India) stock price went northward 4.60 per cent while Wipro share price soared 1.49 per cent.

Among the major Asian markets, the Japanese Nikkei 225 index crashed 131 points, Kospi dipped 0.04 per cent, Hang Seng gained 40 points while the Shanghai markets went down 0.18 per cent in the intraday trading session.