Sensex soars 377 points to new high of 25,396; Nifty gains 109 points

Our Bureau Mumbai | Updated on March 12, 2018 Published on June 06, 2014

Heavy capital inflows, positive global cues drove the rally

After closing at its all time high on Thursday, markets continued their top form to close at a new high again on Friday supported by positive global cues of the ECB cutting interest rates and continued optimism of a turnaround in domestic economy.

The benchmark BSE Sensex closed at 25,396, up 377 points or 1.51 per cent. The Nifty settled at 7,583 mark, up 109 points or 1.46 per cent.

On the BSE, barring the IT and metal sector which closed down around 0.63 per cent and 0.34 per cent respectively all other sectors closed in green. The major gainers in the sectoral front were realty and oil & gas sector which closed up around 5.02 per cent and 4.82 per cent respectively.

Alex Mathews, Head of Research, Geojit BNP Paribas Financial Services said: "The oil company stocks were in focus as of the reports that the new government will make decision on the gas prices by the beginning of July and the sugar stocks also rose on the news that the government may hike import duty."

Going forward the monsoon progress and budget would be the next big market triggers, according to market analysts.

Dipen Shah, Head- Private Client Group Research, Kotak Securities: “The markets rose sharply for the week, reaching new all –time highs. Announcement of stimulus measures by ECB and continued optimism on economic reforms in India led to big gains on several stocks, large cap or mid-cap."

ONGC, Gail, DLF, Hero MotoCorp and Kotak Bank were among the top gainers on NSE, whereas Sesa Sterlite, NMDC, Infosys, TCS and Hindalco were among the losers today.

The INDIA Vix was up 3.3 per cent at 15.95.

Published on June 06, 2014
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