Benchmark indices posted highest single-day gain in more than a year on Friday to close at new lifetime highs after a poll on Thursday released by Centre for Study of Development Studies said that the BJP-led alliance may secure 232 seats in the upcoming general elections.
The BSE benchmark, the Sensex ended 405.92 points or 1.89% higher at 21,919.79 points, while the NSE's Nifty ended 125.50 points or 1.96% higher at 6,526.65 points higher.
Experts feel markets are likely to benefit further from the narrowing current-account deficit. "Optimism of shrinking current-account deficit is likely to boost the rupee and prompt foreign investors investments further," Standard Chartered said in its morning note. The rupee was trading at 61.087 against dollar at 4.50pm IST.
Among sectoral indices, the BSE Bankex (5.35%), BSE Capital Goods (4.05%) and BSE Realty (5.40%) were the major gainers. Among individual stocks, BHEL (6.31%), ICICI Bank (5.97%), Axis Bank (5.92%) and RIL (5.72%) were the major gainers on the 30-share Sensex. The rupee was trading at 61.087 against dollar at 4.50pm IST.
Meanwhile, Asian indices showed a mixed trend. The Hang Seng (-0.19%), Jakarta Composite (-0.04%), Kospi (-0.05%) and Taiwan Taiex (-0.10%) ended in the red. While, the Nikkei (0.92%) and Straits Times (0.23%) ended in the green.
European indices were under pressure. CAC (-0.40%), DAX (-0.93%) and FTSE (-0.40%) were trading in the red.
BSE Sensex soars 406 points, closes at new all-time high, just shy of 22,000 pts
(PTI) Indian markets were on fire today with the BSE Sensex surging to a new closing high of 21,919.79 and the NSE Nifty soaring to yet another record close of 6,526.65 as foreign investors continued to support the pre-election rally.
Realty, Banking, Capital Goods, and Oil& Gas indices notched up smart gains in 3.7-5.4 per cent range, helping investor wealth balloon by nearly Rs 85,000 crore.
Despite the strength in the index, IT and pharma stocks were under pressure as the rupee strengthened to 60-level against the US dollar intra-day.
Bharat Heavy Electricals Ltd (BHEL), ICICI Bank, Axis Bank and Reliance Industries were among the 22 gainers in 30-share BSE Sensex, which today hit lifetime high of 21,960.89 -- less than 40 points shy of the 22,000 mark. It gained 405.92 points over