Markets end at record high on Budget optimism
02/07/2014 16:48
Extending the gaining streak for the fourth straight session, the Markets ended day at fresh record highs as institutional investors bought stocks across the board on hopes that the Finance Minister would announce reforms to boost the economy. The investors remained optimistic that the forthcoming Budget on July 10 will aim at fiscal consolidation as the deficit and inflation are still at higher levels than warranted. Finance Minister Arun Jaitely today said that the government would take measures by discarding populism to curtail wasteful expenditure and making "reasonable" tax policies for reviving economic growth. Further all the sector indices ended the day on positive note. On the global front, the Asian shares ended the day on positive note scoring a three-year peak on Wednesday after a round of upbeat global economic data whetted risk appetites and helped Wall Street taste all-time highs. The Institute for Supply Management's US factory index was little changed at 55.3 in June from 55.4 in the prior month, the Tempe, Arizona-based group's report showed on Tuesday.
The BSE SENSEX closed at 25841.21up by 324.86 points or by 1.27 per cent and the NSE Nifty ended at 7725.15 up by 90.45 points or by 1.18 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 25864.53 and intraday low of 25660.16 The NSE Nifty touched intraday high of 7732.4 and intraday low of 7677.3 Meanwhile, BSE MIDCAP was at 9506.9 up by 73.16 points or by 0.78 per cent, while the BSE SMLCAP was at 10434.18 up by 112.55 points or by 1.09 per cent.
On the sectoral front, BSE Metal gained over 2 per cent followed by counters like Auto, Capital Goods, Power, Healthcare, Consumer Durables, Banks, all surged over 1-2 per cent while Realty and Oil & Gas gained over 0.3-1 per cent.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares 3311 traded, 1965 shares advanced, 1221 shares declined while 125 remained unchanged.
The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 309.40,+4.44%), NTPC Ltd. (Rs. 159.45,+3.00%), Bharat Heavy Electricals Ltd. (Rs. 259.50,+2.75%), Housing Development Finance Corporation Ltd. (Rs. 1008.30,+2.71%), Maruti Suzuki India Ltd. (Rs. 2642.95,+2.25%), among others.
The top losers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 458.35,-0.28%), Infosys Ltd. (Rs. 3218.50,-0.10%), among others.
02/07/2014 16:48
Extending the gaining streak for the fourth straight session, the Markets ended day at fresh record highs as institutional investors bought stocks across the board on hopes that the Finance Minister would announce reforms to boost the economy. The investors remained optimistic that the forthcoming Budget on July 10 will aim at fiscal consolidation as the deficit and inflation are still at higher levels than warranted. Finance Minister Arun Jaitely today said that the government would take measures by discarding populism to curtail wasteful expenditure and making "reasonable" tax policies for reviving economic growth. Further all the sector indices ended the day on positive note. On the global front, the Asian shares ended the day on positive note scoring a three-year peak on Wednesday after a round of upbeat global economic data whetted risk appetites and helped Wall Street taste all-time highs. The Institute for Supply Management's US factory index was little changed at 55.3 in June from 55.4 in the prior month, the Tempe, Arizona-based group's report showed on Tuesday.
The BSE SENSEX closed at 25841.21up by 324.86 points or by 1.27 per cent and the NSE Nifty ended at 7725.15 up by 90.45 points or by 1.18 per cent.
During the day’s trade, the BSE Sensex touched intraday high of 25864.53 and intraday low of 25660.16 The NSE Nifty touched intraday high of 7732.4 and intraday low of 7677.3 Meanwhile, BSE MIDCAP was at 9506.9 up by 73.16 points or by 0.78 per cent, while the BSE SMLCAP was at 10434.18 up by 112.55 points or by 1.09 per cent.
On the sectoral front, BSE Metal gained over 2 per cent followed by counters like Auto, Capital Goods, Power, Healthcare, Consumer Durables, Banks, all surged over 1-2 per cent while Realty and Oil & Gas gained over 0.3-1 per cent.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares 3311 traded, 1965 shares advanced, 1221 shares declined while 125 remained unchanged.
The top gainers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 309.40,+4.44%), NTPC Ltd. (Rs. 159.45,+3.00%), Bharat Heavy Electricals Ltd. (Rs. 259.50,+2.75%), Housing Development Finance Corporation Ltd. (Rs. 1008.30,+2.71%), Maruti Suzuki India Ltd. (Rs. 2642.95,+2.25%), among others.
The top losers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 458.35,-0.28%), Infosys Ltd. (Rs. 3218.50,-0.10%), among others.
