Sensex, Nifty hit record high, bank stocks roll

Sambad English Bureau Published On : Nov 21, 2014 at 8:39 PM

Mumbai, Nov 21:

A benchmark index of Indian equities markets Friday closed trading 267.07 points or 0.95 percent up after hitting a record high of 28,360.66 points.

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The benchmark index surpassed its previous record of 28,294.01 points that was reached Nov 19.

Healthy buying was seen in banking, capital goods, auto and oil and gas sectors, while selling pressure was seen in IT and healthcare sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,100.10 points, closed trading at 28,334.63 points — up 267.07 points or 0.95 percent — from the previous day’s close at 28,067.56 points.

The Sensex touched a record high of 28,360.66 points and a low of 28,038.40 points in the intra-trade.

“Markets ended the week on a high. Supportive global cues, expectations of improvement in growth rates and expectations of an early interest rate cut, kept sentiments positive. Banking stocks were the major gainers for the day,” said Dipen Shah, head-private client group research, Kotak Securities.

“We expect markets to remain focused on the upcoming RBI meeting Dec 2. Any dovish signal from the RBI will buoy sentiments within the economy and lead to further improvement at the ground level. The markets will react positively to the same, we believe.”

The S&P bankex surged 478.83 points, capital goods index gained by 211.66 points, auto index moved up by 102.34 points and oil and gas index inched up by 93.07 points.

However, IT index slipped by 78.75 points and healthcare index dropped by 49.87 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also touched a record high of 8,489.80 points and closed trade 75.45 points or 0.90 percent up at 8,477.35 points.

The major Sensex gainers were: BHEL, up 3.00 percent at Rs.2,52.75; State Bank of India, up 2.68 percent at Rs.305.05; ICICI Bank, up 2.66 percent at Rs.1,734; Hindalco Inds, up 2.63 percent at Rs.160.15; and Axis Bank, up 2.17 percent at Rs.476.85.

The major Sensex losers were: Infosys, down 1.79 percent at Rs.4,146.10; Tata Power, down 1.45 percent at Rs.88.10; Sun Pharma, down 1.03 percent at Rs.842.35; Hindustan Unilever, down 0.92 percent at Rs.754.10; and Tata Steel, down 0.89 percent at Rs.462.79.

(IANS)