Nifty crosses 6100-level after 2 years, Sensex hits 2-yr high

Jan 22 2013, 11:25 IST
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Sensex rose by 26 points in early trade to touch a new two-year high of 20,128.58. (Reuters) Sensex rose by 26 points in early trade to touch a new two-year high of 20,128.58. (Reuters)
SummaryNSE Nifty breached 6,100-level for the first time since Jan 6, 2011.

The National Stock Exchange's index Nifty today breached 6,100 level after two years on the back of steady capital inflows amid strong corporate earnings.

The wide-based Nifty rose by 19 points, or 0.31 per cent to trade at 6,101.30 points, a level not seen since January 2011.

However, profit booking emerged at two-year high levels and the sensitive index slipped to trade at 6,098.65 points at 1055 hrs.

Among the NSE-50 stocks, 32 advanced, while 18 declined.

Brokers said steady inflow of capital inflows by foreign funds driven by the government's decision to deregulate diesel prices in a key economic reform measure, and better-than-estimated third quarter earnings by some blue-chip companies,

helped Nifty to cross 6,100-level.

Meanwhile, the BSE benchmark Sensex was trading up 36.12 points, or 0.18 per cent, at 20.137.94.

Earlier, the BSE benchmark Sensex today rose by over 26 points in the opening trade to touch a new two-year high of 20,128.58 on sustained buying by funds on strong third quarter earnings posted by corporates amid a firming trend in the Asian region.

The 30-share index, which had gained nearly 284 points in the previous three sessions, rose by 26.76 points, or 0.13 per cent, to trade at a new two-year high of 20,128.58.

Similarly, the wide-based National Stock Exchange index Nifty rose by 6.80 points,or 0.11 per cent, to 6,089.10.

Brokers said sustained buying by funds as well as retail investors driven by announcement of encouraging third quarter results by blue-chip companies, buoyed the trading sentiments.

However, stocks of gold trading companies such as Titan Industries, P C Jewellers, Rajesh Exports and Gitanjali Gems were under pressure and lost up to two per cent, after the government hiked the import duty on gold and platinum to six per cent from 4 per cent yesterday.

In the Asian region, Hong Kong's Hang Seng index and Japan's Nikkei were marginally up in the morning trade today.

Stocks to watch-Jan 22


Nifty futures on the Singapore Exchange rose 0.07 percent. The MSCI-Asia Pacific index, excluding Japan was flat.

The yen and Asian shares marked time as investors awaited the outcome of the Bank of Japan's policy meeting, with expectations running high for bold monetary easing measures aimed at reflating the world's third-largest economy.

U.S. stock markets were closed for a public holiday on Monday.


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