- NSE Nifty ends with new highs in volatile session, gains 6 pointsBSE Sensex at record high, NSE Nifty crosses 6,600; ICICI Bank leads gainBSE Sensex, NSE Nifty: Can Indian equities sustain record-setting rally?BSE Sensex, NSE Nifty touch new lifetime highs as rupee strengthens against US dollar
Markets closed at their all-time highs on Wednesday as Indian rupee strengthened against the US dollar further after closing at an 8-month high on Tuesday. The BSE benchmark, the Sensex closed 0.18% or 40.09 points higher at 22,095.30 points, the NSE's Nifty closed 0.18% or 11.65 points higher at 6,601.40 points. The Indian rupee was trading 60.14 against the US dollar at 4.30 pm IST.
Experts feel the steady FII flows could further strengthen rupee. "Overall, FII flows (equity and debt combined) have been positive in recent months. Indian rupee remains steady largely in 61-62 range. We anticipate a preelection rally towards 59," Barclays said in a recent research note.
Earlier during the trading session, the 50-share Nifty touched lifetime high of 6,627.45 points, while the Sensex touched lifetime high of 22,172.20 points.
Among sectoral indices, the BSE Metal (2.70%), BSE Oil & Gas (1.14%) and BSE Capital Goods (1.35%) were the major gainers. Among individual stocks, Sesa Sterlite (4.23%), Hindalco Industries Ltd (3.77%) and Tata Motors (2.70%) were the major gainers.
Among Asian indices, the Hang Seng (0.72%), Kospi (1.19%), Straits Times (1.26%) and Jakarta Composite (0.53%) were the major gainers.
Meanwhile, the US consumer confidence improved in March as the Conference Board's index for consumer attitudes rose to 82.3, the highest since January 2008.
According to experts signs of global economic recovery will benefit Asian markets. "Globally we expect developed markets to register a solid growth improvement, which should bode well for Asian equities," Goldman Sachs said in a recent report.
Dipen Shah, Head- Private Client Group Research, Kotak Securities:
Continued optimism on the outcome of the general elections and supportive global markets kept sentiments positive. The export oriented sectors were the under-performers as the rupee continued its upward march towards the 60 / USD mark. The important events to watch out for will be the RBI meeting on April 1 and the quarterly results, which will follow the RBI meet. With F&O expiry tomorrow, markets may be volatile.
Raghu Kumar, Cofounder RKSV:
After hitting new all time highs on both the Sensex and the Nifty due to continued heavy investing into the markets by FII's, the markets consolidated and ended the day flat. With tomorrow being expiry day on March contracts, there was heavy volatility on the derivatives segment, as evidenced by the National Stock Exchange clocking in more than 250,000 Crore in