Markets end at new lifetime highs; poll suggests BJP alliance to secure 232 seats

Mar 07 2014, 17:20 IST
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BSE Sensex closes nearly 2 pct up; NSE Nifty surges over 125 points to record close of 6,526.65. (Reuters) BSE Sensex closes nearly 2 pct up; NSE Nifty surges over 125 points to record close of 6,526.65. (Reuters)
SummaryBSE Sensex ended nearly 2 percent higher on Friday after hitting record highs earlier.

Thursday's close.

In four days, the Sensex has gained over 973 points. Yesterday, it had closed at 21,513.87, surpassing previous closing high of 21,373.66 set on January 23, 2014.

The NSE Nifty today hit a lifetime high of 6,537.80, crossing its previous record of 6,415.25 hit on December 9, 2013. It ended at a new record close of 6,526.65, up 125.50 points over 6,401.15 hit yesterday.

Finance Minister P Chidambaram today said the fiscal and current account deficits are under control and the economy is more stable than it was 18 months ago.

"Euphoria continues on Dalal Street. It was broadly on the hope the pre-election rally fuelled by foreign funds, along with an increased participation from retail investors will drive markets higher in near-term," said Jayant Manglik, President-retail distribution, Religare Securities.

Surging Indian equities received another push on firming Asian trend and higher opening in Europe as investors awaited the US jobs data later today. Foreign Institutional Investors were net buyers of Indian shares in fifteen straight sessions.

Sectorally, the interest-sensitive BSE Realty sector index gained the most by rising 5.40 per cent, followed by Banking index (up 5.35 per cent), Capital Goods index (4.05 per cent) and Oil & Gas index (3.65 per cent).

Key indices hit new highs for 2nd day, BSE Sensex just shy of 22,000

(Reuters) BSE Sensex ended nearly 2 percent higher on Friday after hitting record highs earlier, driven by sharp gains in domestic-focused sectors such as banks and capital goods.

Markets Top Gainers, Markets Top Losers

State Bank of India (SBI) rose 4.4 percent, while ICICI Bank surged 6.2 percent. Larsen and Toubro Ltd , India's biggest engineering and construction firm, gained 5.4 percent.

Gains came as foreign portfolio investors extended their buying streak to a fifteenth straight session, totalling over $1 billion.

The NSE Nifty index provisionally ended up 1.96 percent, after earlier hitting a record high at 6,537.80 points.

The BSE index rose 1.87 percent, after earlier hitting an all-time high at 21,960.89 points.

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