Sensex up 124 points to another record high
25 July 2014 12:52 AM GMT
Extending the winning run to eighth straight day, Sensex on Thursday ended at a new peak of 26,271.85 and Nifty scaled 7,800 mark for the first time at close as FIIs continued to pour in money enthused by steps to attract overseas investment and encouraging corporate earnings.
Besides, positive cues from Asia after strong Chinese manufacturing data kept the sentiment on a firm footing although indices showed signs of profit-booking early on.
Metal, IT and FMCG counters were in demand while some of the consumer durable, pharma and power stocks saw investors taking some profit off the table, said traders. Sensex-based shares like ITC, Infosys, RIL, HDFC Bank, Tata Steel, HUL, Hindalco and Wipro notched up handsome gains and kept the momentum on the positive side. The benchmark BSE S&P 30-share Sensex moved in a narrow range and mostly in negative terrain till afternoon, but buying in the last session pushed up the Sensex by 124.52, or 0.48 per cent, to end at 26,271.85. It also recorded intra-day high of 26,292.66. Both intra-day high and closing level values surpassed their previous peaks.
In eight days, its longest winning streak since September 2012, the gauge has now rallied 1,265 points. The Sensex has increased 24 per cent this year so far, the best among major global markets, as FIIs have pumped $12 billion in shares.
Besides, positive cues from Asia after strong Chinese manufacturing data kept the sentiment on a firm footing although indices showed signs of profit-booking early on.
Metal, IT and FMCG counters were in demand while some of the consumer durable, pharma and power stocks saw investors taking some profit off the table, said traders. Sensex-based shares like ITC, Infosys, RIL, HDFC Bank, Tata Steel, HUL, Hindalco and Wipro notched up handsome gains and kept the momentum on the positive side. The benchmark BSE S&P 30-share Sensex moved in a narrow range and mostly in negative terrain till afternoon, but buying in the last session pushed up the Sensex by 124.52, or 0.48 per cent, to end at 26,271.85. It also recorded intra-day high of 26,292.66. Both intra-day high and closing level values surpassed their previous peaks.
In eight days, its longest winning streak since September 2012, the gauge has now rallied 1,265 points. The Sensex has increased 24 per cent this year so far, the best among major global markets, as FIIs have pumped $12 billion in shares.
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