Sensex gains 122 points, Nifty hits new record high
A benchmark index of Indian equities markets Wednesday closed 121.53 points or 0.47 percent up as information technology (IT) stocks surged.
Healthy buying was observed in IT and technology, media and entertainment (TECK) sectors, while selling pressure was seen in metal and healthcare sectors.
The 30-scrip Sensitive Index (Sensex) of the S and P Bombay Stock Exchange (BSE), which opened at 26,130.26 points, ended trade at 26,147.33 points, up 121.53 points or 0.47 percent from the previous day's close at 26,025.80 points.
The Sensex touched a high of 26,188.64 points and a low of 26,000.40 points in the trade.
This is the seventh straight session of gains for the markets and the second close above 26,000 points in the period. The Sensex hit a record high of 26,190.44 points on July 8.
"Automobile, oil and gas stocks did well along with selective buying in mid cap stocks. Our advice is to be a trader between the range of 7,800 and 8,000 points instead of investors with a medium term view. We prefer PSU (public sector undertaking) stocks to trade and invest with a short term view," said Shrikant Chouhan, head, technical research, Kotak Securities.
The S and P BSE IT index surged by 213.58 points and TECK index increased by 93.57 points. However, metal index dropped by 51.63 points and healthcare index slipped by 20.52 points.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed with healthy gains at 7,795.75 points up 27.90 points or 0.36 percent.
The Nifty had touched a record high intra-day at 7,809.20 points.
The major Sensex gainers were: Infosys, up 3.46 percent at Rs.3,347; Hindalco Inds, up 2.58 percent at Rs.193.10; Tata Consultative Service (TCS), up 2.21 percent at Rs.2,586.90; Wipro, up 1.87 percent at Rs.569.35; and ICICI Bank, up 1.52 percent at Rs.1,505.80.
(Posted on 23-07-2014)