Nifty hits highest level in 2013, Sensex closes above 20k mark
Sensex today closed above the 20,000 mark after a gap of 100 days and Nifty closed at its highest level in 2013 on heavy buying in auto, consumer durables, FMCG and banking shares amid improvement in IIP suggesting pick-up in growth.business Updated: May 10, 2013 18:37 IST
The BSE benchmark Sensex on Friday closed above the much-awaited 20,000 mark after a gap of 100 days and the NSE Nifty closed at its highest level in 2013 on heavy buying in auto, consumer durables, FMCG and banking shares amid improvement in IIP suggesting pick-up in growth.
After a better start, the 30-share Sensex ended higher by 143.58 points, or 0.73% to 20,082.62, a level last seen on January 30. The index had touched the 20,000-mark in the last few sessions but on Friday closed above the key level on sustained buying by FIIs.
The broad-based National Stock Exchange index Nifty rose by 44.60 points, or 0.74% to the calendar year's highest level of 6,094.75. Similarly, MCX-SX flagship index SX40 closed up by 80.66 points, or 0.68%, at 11,874.70.
Brokers said trading sentiment was bolstered on robust inflow of foreign funds into the domestic markets amid data showing industrial production during March improved to 2.5%, raising hopes of economic growth crossing 6% mark in the current fiscal.
"Indian indices rose once again today on the back of gains in several of the index stocks across sectors. Auto stocks gained the most in today's trade, while banking stocks also were among major gainers. Supportive Asian and European cues helped," said Dipen Shah, head of private client group research, Kotak Securities.
In 30-scrip Sensex, 18 stocks gained led by Maruti Suzuki, ITC Ltd, Bajaj Auto, Mahindra and Mahindra, Tata Motors, Hero MotoCorp, Hindalco and ICICI Bank.
Sectorally, the auto sector index gained the most by rising 2.20%, followed by consumer durable index at 2.03%, the FMCG index 1.42% and banking index at 1.23%.
FIIs have bought over $12 billion of Indian equities so far this year, a record for the period.