BSE Sensex, NSE Nifty record-setting rally continues for 9th day; Infosys top gainer

Sep 03 2014, 17:39 IST
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Sensex ends 120.55 pts higher at fresh closing peak of 27,139.94;Nifty up 31.55 pts to close at new high of 8,114.60. Sensex ends 120.55 pts higher at fresh closing peak of 27,139.94;Nifty up 31.55 pts to close at new high of 8,114.60.
SummaryBSE Sensex, NSE Nifty hit a record high on Wednesday too...

Rising for the ninth straight session, the BSE Sensex gained 120 points to close at fresh peak of 27,139.94 today in IT stocks led rally powered by positive global cues and continued overseas fund inflows.

The wide-based NSE Nifty index rose by 31.55 points to close at record 8,114.60 points. The index touched intra-trade record high of 8,141.90 points, surpassing previous record of 8,101.95 hit yesterday.

The 30-share Sensex opened on a strong footing and rose quickly to historic high of 27,225.85 points as buying momentum picked up.

But gains were capped by profit-booking at record levels and the barometer settled at 27,139.94 -- fresh record closing level -- with net gains of 120.55 points or 0.45 per cent over last close. The Sensex bettered its previous closing peak of 27,019.39 hit yesterday.

The gauge has now gathered over 825 points in nine straight sessions.

IT, realty, teck metal and capital goods stocks were in keen demand while some counters from FMCG, banking and power segments suffered losses.

IT stocks, led by TCS, were in the limelight on fresh spell of buying after bullish US manufacturing and construction data. TCS, Infosys Ltd and Wipro rose between 2.45 per cent and 3.4 per cent.

"Global markets also showed positive signs as tensions within Russia and Ukraine seemed to ease. Softer crude oil prices further maintained positive momentum on the bourses. Stock specific buying was seen with Bharti Airtel and Coal India amongst major gainers," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio Ltd.

Russia and Ukraine today reached an agreement on a cease-fire in eastern Ukraine, sending lower brent crude prices to 16-month low near USD 100 a barrel.

Meanwhile, Foreign portfolio investors (FPIs) infused Rs 672.81 crore yesterday as per provisional data.

Indian shares extend record-setting rally

(Reuters) Indian shares extended a record-setting winning streak on Wednesday as software exporters such as Infosys Ltd rallied on strong U.S. economic data, while continued foreign buying and falling oil prices also helped the gains.

A fall in Brent crude prices to 16-month lows and recent supportive economic data at home such as better-than-expected 5.7 percent GDP growth in April-June are also reinforcing investor optimism.

The gains also tracked a rise in global stocks after Ukraine said it reached a ceasefire agreement with Russia, despite conflicting reports from the Kremlin.

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