Sensex, Nifty touch new record highs; capital goods stocks gain
A benchmark index of Indian equities markets hit a record high of 25,789.42 points Wednesday on upcoming budget optimism, even as capital goods, automobile, metal and bank stocks rallied.
The budget is to be presented July 10.
All key sectors, excluding information technology (IT), were trading in the green. Other sectors posting healthy gains were healthcare and consumer durables, oil and gas and fast moving consumer goods (FMCG) scrip.
The 30-scrip Sensitive Index (Sensex) of the S and P Bombay Stock Exchange (BSE), which opened at 25,660.57 points, was trading at 25,770.29 points around 12.30 p.m., up 253.94 points or 1.00 percent from the previous day's close at 25,516.35 points.
The Sensex touched a high of 25,789.42 points and a low of 25,660.16 points in trade.
The 30-sensitive index had touched a new high of 25,735.87 points on June 11.
The S and P BSE capital goods index surged by 225.87 points, the automobile index gained by 217.22 points, metals went up by 189.48 points, the bank index moved up by 180.30 points, the healthcare index inched up by 145.23 points, the oil and gas index was higher by 80.08 points and the FMCG index grew by 63.44 points.
However, the IT index was down 16.20 points, followed by the technology, entertainment and media (TECK) index, which was marginally lower by 0.76 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) too touched a new high. It surged to 7,713.95 points and was trading at 7,710.80 points, up 76.10 points or 1.00 percent.
(Posted on 02-07-2014)