Sensex, Nifty back near all-time highs after morning dip

• The Nifty opened above 19,400 while the Sensex went above 65,500
• The pharma and IT stocks are on a high while FMCG and metal packs are in the slow lane.
• Reliance seems to be dragging the benchmarks down as it is trading more than 1.1% lower

Indian benchmark indices, the Sensex and the Nifty, hit their fresh all-time highs in early Tuesday trade but saw a dip to trade flat in morning trade. At the time of updating this story, the Sensex and Nifty are up 220 and 40 points respectively. The Nifty opened above 19,400 while the Sensex went above 65,500.

The pharma and IT stocks are on a high while FMCG and metal packs are in the slow lane. Eicher Motors is in the top laggard trading at more than 6% in the red. Its international competitor Harley Davidson has launched the X440 on Monday at a competitive pricing of under Rs 2.5 lakh.

Reliance seems to be dragging the benchmarks down as it is trading more than 1.1% lower at around Rs 2,587 a share. The conglomerate saw the launch of Jio's internet-enabled JioBharat 4G phone at Rs 999 on Monday.

There is a new debutant on Dalal Street too. HMA Agro has listed at ₹625 per share, a premium of more than 6% from the issue price of ₹585 per share on NSE.

Meanwhile, Bajaj Finance ha seen the biggest single day gain in year as it trades in the green for the sixth consecutive day. The company has reported that its first quarter new loans booked rose by 34% compared annually.

Meanwhile, the Indian rupee has opened a tad stronger against the US dollar at 81.92/$ vs Monday’s close of 81.96/$.

The Sensex and Nifty soared to fresh closing record highs for the third successive session on Monday, with the 30-share index crossing the historic 65,000 mark on strong foreign fund flows and a rally in global equities. Hectic buying in index majors Reliance Industries, ITC and HDFC twins also added to the momentum, traders said.