Sensex, Nifty touch new highs, IT stocks rise

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SME Times News Bureau | 03 Sep, 2014
A benchmark index of Indian equities markets touched a new high of 27,225.85 points Wednesday before closing trade at 27,139.94 points.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) surpassed its previous high of 27,082.85 points registered Tuesday.

Volatility was seen in the trade around 2.30 p.m. when the markets fell nearly 125 points. It regained traction and made gains of about 120 points before close.

Healthy buying was observed in IT, metal, capital goods, technology, media and entertainment (TECK) and auto sectors. Selling pressure was seen in fast moving consumer goods (FMCG) and power stocks.

The 30-scrip sensitive index, which opened at 27,128.06 points, closed trade at 27,139.94 points, up 120.55 points or 0.45 percent from the previous day's close at 27,019.39 points.

The Sensex touched a high of 27,225.85 points and a low of 27,067.02 points in intra-day trade.

The S&P BSE IT index surged 253.06 points, metal index was higher by 144.77 points, capital goods index gained 144.77 points, TECK index rose 125.38 points and automobile index moved up by 118.40 points.

However, FMCG index dropped by 43.60 points and power index slipped by 1.17 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also hit a new record high at 8,141.90 and closed trade 31.55 points or 0.39 percent up at 8,114.60 points. Nifty Tuesday hit a record high of 8,101.95 points.

The major Sensex gainers were: Infosys, up 3.41 percent at Rs.3,734.60; Coal India, up 3.40 percent at Rs.376; Wipro, up 3.00 percent at Rs.577.40; Bharti Airtel, up 2.87 percent at Rs.403.15; and Tata Consultancy Service, up 2.45 percent at Rs.2,601.30.

The losers were: Gail, down 1.93 percent at Rs.455.30; ITC, down 1.65 percent at Rs.348.95; ONGC, down 1.48 percent at Rs.438; Bajaj Auto, down 1.28 percent at Rs.2,229.15; and BHEL, down 0.96 percent at Rs.237.55.

Among Asian markets, the Nikkei closed 0.38 percent up, Hong Kong's Hang Sang was up 2.30 percent and China's Shanghai Composite index rose 1.00 percent.

In Europe, London's FTSE 100 was higher by 0.79 percent, Germany's DAX Index was up 1.34 percent and France's CAC 40 gained 1.21 percent.