Sensex breaches 22,000 first time; Nifty hits new lifetime peak
The benchmark Sensex Monday briefly breached the 22,000 mark for the first time and then managed to end at a new record close with modest gains of 15 points, extending the rally to the fifth session, on the back of continued overseas investor interest linked to upcoming polls.business Updated: Mar 10, 2014 17:51 IST
The benchmark Sensex Monday briefly breached the 22,000 mark for the first time and then managed to end at a new record close with modest gains of 15 points, extending the rally to the fifth session, on the back of continued overseas investor interest linked to upcoming polls.
Capital goods, realty, banking and refinery segments gained while IT, pharma, teck and metal counters fell.
The BSE 30-share barometer resumed nearly 100 points lower on the back of weak Asian cues but later moved between positive and negative territory. It ended at a new closing high of 21,934.83, a rise of 15.04 points or 0.07 %. This surpassed the previous closing high of 21,919.79 set on last Friday.
The Sensex registered all time high of 22,023.98 on Monday.
In five days, the Sensex has gained 988 points.
The wide-based 50-issue CNX Nifty of the NSE also edged up by 10.60 points, or 0.16 %, to record its closing high of 6,537.25.
It also touched a new intra-day peak of 6,562.20 Monday, surpassing previous lifetime peak of 6,537.80 hit on Friday.
Sensex constituents including HDFC Bank, L&T, RIL, M&M, SBI, Maruti Suzuki and HUL notched up handsome gains. TCS, Infosys, Tata Motors, ITC, Sun Pharma, ICICI Bank, Dr Reddy's Gail India, Tata Steel, Wipro, Coal India fell.
Foreign Institutional Investors (FIIs) bought shares worth a net Rs 2,577.44 crore on last Friday, as per provisional data from the stock exchanges.
Upcoming data like IIP, CPI for urban and rural India and WPI will dictate the future trend, traders say.
"Positive global cues, optimism ahead of upcoming elections and FIIs buying is leading to sustained momentum," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.