Markets through the day: BSE Sensex, NSE Nifty continue record-setting streak, SBI shares rise

Mar 27 2014, 18:20 IST
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Consistent pumping of money by FIIs have lifted BSE Sensex and NSE Nifty to their lifetime high. Reuters Consistent pumping of money by FIIs have lifted BSE Sensex and NSE Nifty to their lifetime high. Reuters
SummaryBSE Sensex closed 0.48 pct higher, while NSE Nifty gained 0.58 pct.

BSE Sensex rose to a record high for a fourth straight session on Thursday, as state-run lenders including State Bank of India (SBI) extended their recent gains on broker upgrades and on hopes of some easing at the central bank's policy review on Tuesday.

The NSE Nifty index rose as much as 1.1 percent to an all-time high of 6,673.95, while the benchmark BSE Sensex index gained 0.96 percent to a lifetime high of 22,307.74.

State Bank of India provisionally rose 2.2 percent, while Punjab National Bank ended higher 2.4 percent.

The BSE index provisionally closed 0.48 percent higher, while the NSE index gained 0.58 percent.

Check Updates: Markets Top Gainers, Markets Top Losers

3:50 P.M. Sahaj Agrawal, Deputy Vice President- Derivatives Research, Kotak Securities:

Nifty gained significantly in the March series. An initial upmove in the index was followed by a period of consolidation. The series ended on a positive note with the index testing 6650 levels. Rollover in the index is not very aggressive. This could result in profit booking / consolidation for the April series. Options concentration for April is seen at 6700 call and 6400 put strikes. We remain positive on the markets and advice accumulation on any meaningfull corrections. IT stocks can be accumulated gradually for a turnaround from current levels. We remain positive on select Energy and BFSI stocks amongst others.

3:28 P.M.: Banking and capital goods stocks lead gains with State Bank of India gaining 4.5 percent after Goldman Sachs upgrades the stock to "buy" from "neutral". The rally is supported by continuous buying from foreign institutional investors, who bought Indian shares worth 10.04 billion rupees ($166.97 million) on Wednesday, provisional exchange data shows.

3:26 P.M.: The ZyFin Consumer Outlook Index of India (COI) witnessed a mild decline of 0.4 points in March 2014 over the last month. This has been primarily due to a slight decrease in willingness to spend among Indian consumers.

3:15 P.M.: WPP's JWT buys majority stake in India-based Social Wavelength

3:02 P.M.: The Competition Appellate Tribunal today dismissed the appeal challenging fair trade watchdog CCI's approval for the Rs 2,060 crore Jet-Etihad deal, saying the appellant does not have "locus standi" to file the plea.

3.00 P.M.: Shriram City Union Finance's Rs 200 crore non-convertible debentures (NCDs) will open for subscription on April 16.

2:40 P.M.: Larsen & Toubro (L&T) wins

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