Sensex, Nifty touch record highs

Mumbai  : A benchmark index of Indian equities markets Tuesday touched a record high of 26,530.67 points, before closing flat at 26,420.67 points — up barely 29.71 points or 0.11 percent.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) touched a record high of 26,530.67 points in the morning session surpassing its previous high of 26,413.11 points recorded Monday.

Healthy buying was observed in auto, capital goods, bank, healthcare and metal sectors, while marginal selling pressure was seen in information technology (IT) and entertainment, media and technology (TECK) sector.

The market, which opened at 26,482.56 points, closed trade at 26,420.67 points (provisional), up 29.71 points or 0.11 percent from the previous day’s close at 26,390.96 points.

The Sensex touched a high of 26,530.67 points and a low of 26,387.84 points during intra-day trade.

“Indian benchmark indices opened higher taking strong positive cues from global markets and again registering another life time high,” said Kiran Kumar Kavikondala, director and chief executive, Wealthrays Securities.

“Global markets opened higher and held on to their gains. Fed (US Federal Reserves) release tomorrow (Wednesday) and rupee movement will provide further direction to markets.”

The S&P BSE automobile index surged 374.15 points, capital goods index gained 163.26 points, bank index moved up by 101.46 points, healthcare index was higher by 81.62 points and metal index was up by 78.29 points.

However, IT index dropped by 55.65 points and TECK index was lower by 19.62 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also hit a record high of 7,918.55 points and ended trade at 23.25 points or 0.30 percent up at 7,897.50 points.

The major Sensex gainers were: Mahindra and Mahindra, up 3.67 percent at Rs.1,374.55; Tata Motors, up 2.95 percent at Rs.518.75; BHEL, up 2.80 percent at Rs.227.25; Bajaj Auto, up 2.46 percent at Rs.2,195.30; and Dr.Reddys Lab, up 1.85 percent at Rs.2,824.45.

The losers were: HDFC, down 2.48 percent at Rs.1,085.20; Tata Consultancy Services (TCS), down 1.93 percent at Rs.2,438.35; HDFC Bank, down 0.98 percent at Rs.824.10; Hindalco Inds, down 0.80 percent at Rs.180.85; and Hindustan Unilever, down 0.76 percent at Rs.719.10.

In Asian markets, Nikkei closed 0.83 percent up, Hong Kong’s Hang Sang closed 0.67 percent higher and China’s Shanghai Composite index rose 0.26 percent.

In Europe, London’s FTSE 100 was up by 0.45 percent, Germany’s DAX Index was 0.91 percent higher and France’s CAC 40 gained by 0.38 percent.
Photo  : AFP