Nifty ends above 8,000-mark for 1st time; Sensex at new peak
Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,812.69 in opening trade on Monday on the back of positive economic growth data for the April-June quarter.business Updated: Sep 01, 2014 18:13 IST
Stocks markets continued their winning streak for the seventh straight session with Nifty on Monday breaching the 8,000-mark for the first time and the Sensex closing at new life-time high of 26,867.55 boosted by positive economic growth data for the April-June quarter.
The NSE Nifty barometer on Monday surged passed the 8,000 mark for the first time and soared to hit an all-time intra-day high of 8,035 and settled 73.35 points, or 0.92%, higher at record close of 8,027.70, surpassing its earlier record high 7,954.35. It also surpassed its previous intra-day record of 7,968.25 hit on August 25.
It took 78 trading sessions from May 12 to September 1 to reach the 8,000-mark from 7,000 points.
The BSE 30-share barometer Sensex spurted by 229.44 points, or 0.86%, to close at new life-time high of 26,867.55, breaking its previous closing high of 26,638.11 reached on August 28.
During Monday's session, it touched a new high of 26,900.30, improving its previous intra-day record of 26,674.38 hit on August 28. The gauge had gained about 324 points in the previous six straight sessions.
Sentiments turned bullish as foreign capital inflows picked up after economic growth improved to two-and-half year high of 5.7% in the April-June quarter, brokers said.
HeroMoto was the best gainer today among the 30-share Sensex as it jumped 5.79% to Rs 2,759.25.
Strong sales number in August posted by some auto makers, including Maruti Suzuki, was another positive factor.
Maruti Suzuki's shares climbed 4.71% to close at an all-time high of Rs 2,915.50.
Mixed global cues with a firming trend in other Asian markets and a lower opening of the European markets also influenced trading sentiments in Mumbai.
Other Sensex-related gainers were Larsen and Toubro, Hindalco,ONGC, GAIL, Reliance Industries, Cipla, Coal India, Sesa Sterlite, Tata Power, Tata Steel, Infosys and NTPC.
Sectorally, BSE metal sector index rose (2.79%), followed by capital goods (2.75%), realty (2.72%) and power (2.60%).