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Millennium Post

Prez speech fuels markets’ record breaking blaze

Riding high on the back of addressing economic agenda of the new government by President Pranab Mukherjee on Monday, both the key indices, Sensex and Nifty, continued its record breaking momentum and finished at their new zenith, extending gains for the third straight session.
Addressing Joint Sitting of Parliament by President Pranab Mukherjee said that the government will announce a slew of measures to push growth and creat jobs, which will include encouraging investment by domestic as well foreign investors and creating a predictable, transparent and fair environment.

The government will also chalk out plans to modernising and revamping of railways and also enhance electricity generation capacity. This boosted the market sentiment, sending benchmark indices to new peaks.

Overall, 10 out of 12 sectoral indices closed in the green while only oil & gas and bankex finished in the red sith small losses. Realty, capital goods, power, metal, consumer durable and auto segments led the pack.The BSE 30-share barometer resumed strong on firm Asian cues and improved further to a new intra-day historic high of 25,644.77 before settling at 25,580.21 — also new closing peak- up by 183.75 points or 0.72 per cent. In straight three sessions, it has jumped by 774.38 points or 3.12 per cent.

The broader 50-issue CNX Nifty of the NSE also flared up by 71.20 points or 0.94 pct to log its fresh closing high of 7,654.60. It touched a new intra-day peak of 7,673.70.
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