Industrial data lift Sensex above 20k, Nifty to 2013 high
11 May 2013 12:00 AM GMT
Boosted by growth in industrial production in March, the BSE benchmark Sensex on Friday closed above 20,000-mark after a gap of 100 days and the NSE Nifty ended at its highest level in 2013 on robust buying in auto, consumer durables, FMCG and banking stocks.
It finally concluded at over three-and-a-half-month high of 20,082.62, a net rise of 143.58 points or 0.72 per cent. Sensex had consistently been trading around 20,000-mark in the past few sessions. It finally closed above this key level on sustained buying by FIIs. Traders said overseas investors largely ignored data that showed for full 2012-13 fiscal, IIP slipped to 1 per cent -- the lowest since 1991-92.
'Markets have been moving up at a fast pace in the past few weeks on the back of supportive global markets, consistent FII flows and in-line / better-than-expected quarterly results,' said Dipen Shah, Head of Private Client Group Research, Kotak Securities.
It finally concluded at over three-and-a-half-month high of 20,082.62, a net rise of 143.58 points or 0.72 per cent. Sensex had consistently been trading around 20,000-mark in the past few sessions. It finally closed above this key level on sustained buying by FIIs. Traders said overseas investors largely ignored data that showed for full 2012-13 fiscal, IIP slipped to 1 per cent -- the lowest since 1991-92.
'Markets have been moving up at a fast pace in the past few weeks on the back of supportive global markets, consistent FII flows and in-line / better-than-expected quarterly results,' said Dipen Shah, Head of Private Client Group Research, Kotak Securities.
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