Markets at all-time highs; Nifty hits 9,700 for the first time ever

The benchmark Nifty pared some gains after hitting record high, crossing its crucial 9,700-mark for the first time ever. The S&P BSE Sensex also hit its all-time high of 31,355. Gains were, however, capped by a negative trend in global markets as investors digested the impact of six Arab countries including Saudi Arabia having cut diplomatic ties with Qatar. At 9:17 am, the S&P BSE Sensex was trading at 31,348, up 38 points, while the broader Nifty50 was ruling at 9,682, up 7 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.2% each. "The Tuesday's session is likely to trade with some volatility on the back of RBI monetary policy. Price-wise, we do not expect any positive surprise from this event and hence, any disappointment may lead to some profit booking in the market. 9,640 – 9,581 would act as a strong support zone on Nifty today," said brokerage Angel Broking in a technical note. Commodity Trading Tips