BSE Sensex, NSE Nifty, Gold Price on March 07, 2014
Fri Mar 07 2014, 19:58 hrs
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. 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.
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.
The BSE benchmark 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.
Indian rupee breached the 61-mark intra-day and closed at a new three-month high of 61.07 against the US dollar helped by heavy capital inflows, wrapping up the week with the best gain since Dec 2013.
Weak dollar overseas and selling of the American currency by exporters kept the rupee upbeat, said forex traders.
Gold prices dropped below Rs 31,000 by falling Rs 280 to Rs 30,820 per ten gram on heavy selling by stockists influenced by a weak global trend. Silver also dropped by Rs 350 to Rs 47,050 per kg on poor offtake by industrial units and coin makers. Traders said heavy selling by stockists against fall in demand at prevailing higher levels mainly kept pressure on gold prices.