E-Paper
Markets remain in festive mood; Nifty at year's high
The markets continued to cheer investors on the Christmas Eve with the BSE Sensex gaining 129 points and NSE Nitfy setting a new 52-week high at 5,178 on heavy buying by funds ahead of the long weekend amid reports of easing food inflation and positive global cues.
The markets continued to cheer investors on the Christmas Eve with the BSE Sensex gaining 129 points and NSE Nitfy setting a new 52-week high at 5,178 on heavy buying by funds ahead of the long weekend amid reports of easing food inflation and positive global cues.
The Sensex, which gained 539 points yesterday, shot up further by 129.50 points or 0.75 per cent to shut the shop before a long-four-day weekend at 17,360.61 points, before touching high of 17,413.69. Today's close is a nine-week high since October 17.
The wide-based National Stock Exchange index Nifty 50 too surged to touch the year's high of 5,197.90, before ending with a slightly moderate gain of 33.80 points or 0.66 per cent to close at 5,178.40 points. The Nifty recorded a handsome gain of 159 points yesterday.
Buying activity picked up following reports of food inflation cooling down to 18.65 per cent for the week ended December 12 from 19.95 per cent from the previous week.
Trading sentiment further boosted as major market participants indulged in covering their pending positions ahead of a long week-end beginning tomorrow.
The market will be closed for Christmas tomorrow and reopen on Tuesday, after Monday's holiday for Muharram.
The heaviest scrip Reliance Industries and the auto heavyweight Tata Motors recorded handsome gains, with firm global markets underpinning the positive sentiment.
Among the index scrips, as much as 25 ended with gains and four declined, while after a massive rally on Wednesday NTPC remained unchanged on Thursday.
