Sensex soars 293 pts to fresh record
10 Sept 2014 4:10 AM IST
After a short breather, Sensex and Nifty on Monday touched new peaks by surging 293 points and 87 points respectively as overseas funds increased bets on growth optimism and a lower oil price gave a boost to sentiments.
In step with the rise in broader equity indices after two straight sessions of decline previously, rupee also firmed up and hit 60.19 levels against the US dollar.
The benchmark S&P BSE Sensex on Monday resumed strong on the back of rally on Wall Street last Friday. It gradually moved up further to an intra-trade peak of 27,354.99 before logging a life-time closing high of 27,319.85 — a rise of 293.15 points or 1.08 per cent. In previous two sessions, it had fallen by 113.33 points or 0.42 per cent.
It surpassed its previous all-time intra-day peak of 27,225.85 and closing high of 27,139.94 hit on 3 September.
Among Sensex stocks, Hindalco stole the show, rising by 3.49 per cent. Overall, 26 Sensex stocks ended higher. Gainers included Axis Bank, Bajaj Auto, HDFC Bank, Infosys and ONGC.
The broad-based 50-issue CNX Nifty of the NSE also commenced higher and rallied further to hit a new intra-day peak of 8,180.20 before recording new closing high of 8,173.90, up 87.05 points or 1.08 per cent.
It also surpassed previous all-time intra-day peak of 8,141.90 and closing high of 8,114.60 hit on September 3.
‘FII buying in equity segment and easing crude oil prices further boosted market sentiment. Almost all sectors saw buying interest, as hopes for implementation of better reforms by new government keeps the market spirit high,’ said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.
Oil and gas shares were at the forefront. Brent crude for October lost 46 cents to $100.31 in afternoon trade after subdued US jobs data fuelled demand concerns and on a cease-fire between Russia and Ukraine.
In step with the rise in broader equity indices after two straight sessions of decline previously, rupee also firmed up and hit 60.19 levels against the US dollar.
The benchmark S&P BSE Sensex on Monday resumed strong on the back of rally on Wall Street last Friday. It gradually moved up further to an intra-trade peak of 27,354.99 before logging a life-time closing high of 27,319.85 — a rise of 293.15 points or 1.08 per cent. In previous two sessions, it had fallen by 113.33 points or 0.42 per cent.
It surpassed its previous all-time intra-day peak of 27,225.85 and closing high of 27,139.94 hit on 3 September.
Among Sensex stocks, Hindalco stole the show, rising by 3.49 per cent. Overall, 26 Sensex stocks ended higher. Gainers included Axis Bank, Bajaj Auto, HDFC Bank, Infosys and ONGC.
The broad-based 50-issue CNX Nifty of the NSE also commenced higher and rallied further to hit a new intra-day peak of 8,180.20 before recording new closing high of 8,173.90, up 87.05 points or 1.08 per cent.
It also surpassed previous all-time intra-day peak of 8,141.90 and closing high of 8,114.60 hit on September 3.
‘FII buying in equity segment and easing crude oil prices further boosted market sentiment. Almost all sectors saw buying interest, as hopes for implementation of better reforms by new government keeps the market spirit high,’ said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.
Oil and gas shares were at the forefront. Brent crude for October lost 46 cents to $100.31 in afternoon trade after subdued US jobs data fuelled demand concerns and on a cease-fire between Russia and Ukraine.
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