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    Sensex, Nifty end at record closing highs; Hindalco, SBI top gainers

    Synopsis

    The Sensex also closed at record high of 26419.55 after posting an impressive rally of 148 points intraday, supported by gains in banks & capital goods.

    Agencies
    MUMBAI: The benchmark Sensex today rose over 59 points to close at 26,419.55, near its record high, and the Nifty settled above the 7,900-mark for the first time, boosted by gains in banking and IT stocks on higher capital inflows.

    Besides, a strengthening rupee and positive global cues on upbeat US economic data and easing crude oil price also buoyed market sentiments.

    The rally helped both Sensex and Nifty rise by over 1.5 per cent this week, their second successive weekly gain.

    The NSE Nifty barometer today rose 22.10 points, or 0.28 per cent, to end above the 7,900-mark for the first time at 7,913.20 after software stocks led by Infosys surged. The Nifty also hit a new all-time intra-day peak of 7,929.05, surpassing its previous record of 7,922.70 hit on August 20.

    The BSE 30-share barometer spurted 59.44 points, or 0.23 per cent, to close at 26,419.55, just missing previous record closing high of 26,420.67 reached on August 19. During today's session, it touched a high of 26,508.27.

    The gauge had gained 45.82 points in yesterday's session. "Mid-caps out-performed larger peers, indicating greater interest from non-institutional players. Reduced geo-political tensions and optimism on future growth buoyed sentiments," said Dipen Shah, Head-PCG Research, Kotak Securities.

    A firming trend in other Asian markets after the US markets closed at another record-high yesterday also helped.

    Hindalco was the best gainer today among the 30-share Sensex as it jumped 2.36 per cent.

    Among software exporters stocks, Infosys gained 1.65 per cent, TCS 1.22 per cent and Wipro 1.19 per cent, lifting the broad-based Nifty to all-time high.

    In the banking space, stocks of SBI, Axis Bank and HDFC Bank witnessed good buying activity.

    Sectorally, the BSE IT sector index rose the most by rising 1.63 per cent, followed by Banking 1.03 per cent, Teck 0.97 per cent, Capital Goods 0.16 per cent, Metal 0.16 per cent, Healthcare 0.13 per cent and Auto 0.08 per cent.

    Sustained money pumped into markets by foreign investors -the main market mover- was seen across the board. FIIs bought shares worth a net Rs 412.77 crores yesterday as per provisional data from bourses.
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    @ 2 pm

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    @ 12 pm

    Fin Min Sources: Import duty on raw sugar increased to 25% from 15%

    Fin Min Sources: Import duty on white and refined sugar increased to 25% from 15%

    Fin Min Sources: Import Duty Hiked To 25% From 15% Dwarikesh Sugar Price:36.6 Change: +1.9 Percent Change: +5.48%
     
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    Motilal Oswal: Bullish on Lupin, Sun Pharma in the long term

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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