Advertisement

HindustanTimes Sun,21 Dec 2014

Sensex, Nifty inch up to new peaks for 4th day; RIL falls

PTI  Mumbai, May 20, 2014
First Published: 10:04 IST(20/5/2014) | Last Updated: 16:48 IST(20/5/2014)

The benchmark Sensex on Tuesday gave up early gains and inched up about 14 points to end at fresh closing high for the fourth day in a row, amid signs of profit booking in recent gainers like RIL, ONGC and Coal India.

In volatile trade, the 30-share index opened strong and rose to the day's high of 24,587.16 but thereafter slipped into negative zone as investors encashed gains.

It hit a low of 24,299.53 before making a recovery to settle at 24,376.88 – up 13.83 points, or 0.06%. It surpassed previous closing peak of 24,363.05 made on Monday. Sensex has now gained 562 points in four sessions on sustained optimism over incoming Narendra Modi-led government.

While there was renewed buying in recent under-performers like IT and drugmaker sectors, oil and gas shares saw heavy selling. RIL and ONGC slumped 3.7-4%. Coal India after a strong show yesterday fell 5.9% on Tuesday.

Auto shares including Hero Moto, Tata Motors, Maruti and Bajaj Auto saw profit-taking, traders said.

The 50-share NSE index Nifty rose by 11.95 points, or 0.16%, to yet another record closing high of 7,275.50, after scaling intra-day peak of 7,350.65.

Foreign institutional investors (FIIs) continued their buying spree by investing a net Rs. 1,350.04 crore on Monday, according to provisional data from the stock exchanges.

"Profit-booking in recent gainers and cautious approach adopted by participants at current record levels, slowed down the rising pace to some extent", said Deepak Pahwa, a Delhi-based stock broker.

A firming trend in the Asian region also strengthened the market sentiment, brokers said.

Interest-sensitive realty sector was the star performer by rising the most by 4.89%, consumer durables index rose by 2.37% and metal index by 1.61%.

IT index recovered by 2.11% on the back of rebound in IT bellwether Infosys which rallied 3.19% , Tata Consultancy by 1.39% and Wipro by 2.61%. In pharma, Dr Reddy Lab rose by 1.13% and Cipla gained 1.13%, pushing the BSE healthcare index by 1.48%.


Advertisement
more from Business

Year-end high: Flipkart announces $700 million funding

Flipkart, India’s largest e-commerce marketplace, on Saturday announced a US $700 million (Rs 4434 crore) investment even as 2014, the year that has seen huge fund flow into India’s rising consumer internet industry, is about to end.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved