Sensex sets new record high, ends above 22,500 level | business | Hindustan Times
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Sensex sets new record high, ends above 22,500 level

business Updated: Apr 02, 2014 18:06 IST


The BSE benchmark Sensex on Wednesday surpassed the 22,500-level to set a new closing high for the sixth day in succession on the back of persistent foreign capital inflows and positive global cues.

The barometer opened the day on a stronger note and spurted further to its all-time record of 22,592.10 intra-day, with realty, refinery, healthcare, capital goods, power and consumer durable counters attracting buying.

The Sensex finally ended the day at life-time closing high of 22,551.49, a rise of 105.05 points or 0.47% from its previous close. It had set new high levels at close in the previous five days as well.

The 50-share NSE Nifty gained 31.50 points or 0.47% to finish at 6,752.55, after registering an all-time high of 6,763.50 intra-day.

Foreign institutional investors (FIIs) continued their buying spree as they bought shares worth a net Rs 385.66 crore yesterday, as per provisional data from stock exchanges.

"For yet another session, markets were seen scaling to new heights on the back of positive domestic cues.

Clearance from the Election Commission for announcement of new bank licenses to RBI before the outcome of general elections triggered buying in financial space and later resumed by the other banking counters as well," said Jayant Manglik, President, Retail Distribution, Religare Securities.

State-run SBI gained 2.06%, ICICI Bank 1.53% and HDFC 1.09%.

Bharti Airtel at 3.34% was the day's biggest gainer, followed by Tata Motor at 2.62%.

Cipla was 2.00%, ONGC 1.96%, Larsen 1.85%, RIL Ind 1.68%, ITC fell by 2.31%, Hindalco 1.45%, SSLT 1.41% and HDFC Bank 1.02%.

IT stocks were also showcasing resilience against the backdrop of Rupee's appreciation to eight month high level, Manglik said.

Among the S&P BSE sectoral indices, realty rose by 1.89%, followed by healthcare 1.57%, oil&gas 1.43%, capital goods 1.18%, consumer durables 1.13% and power 1.02%.

The market breadth remained positive as 1,895 stocks ended in the green, 896 finished in the red and 130 ruled steady. The total turnover rose to Rs 3,290.90 crore from Rs 2,522.86 crore yesterday.

Asian stocks ended higher after an increase in US manufacturing, which boosted optimism about growth in the world's biggest economy.

Key benchmark indices in Hong Kong, South Korea, China, Japan and Taiwan ended higher by 0.26-1.04%, while Singapore Strait Times eased by 0.18%.

European stocks were trading higher. Key benchmark indices in France, UK and Germany were up by 0.09-0.31%.