BSE Sensex, NSE Nifty rise to fifth consecutive record high; SBI, Punjab National Bank gain

Written by PTI | Mumbai | Updated: Mar 28 2014, 20:42pm hrs
BSE SensexBSE Sensex climbs to anothr record highs with all sectoral indices, led by realty and banking stocks, rising up to 1.28 per cent.
The BSE Sensex and NSE Nifty rise to a record high for a fifth consecutive session as state-run banks extend a recent rally after RBI on Thursday extended the deadline for banks to implement Basel III capital rules by a year.

The Nifty hits a lifetime high of 6,684.95, while the BSE Sensex marks an all-time high of 22,363.97.

State Bank of India (SBI) gains 2.8 percent, Bank of Baroda 2.7 percent and

Punjab National Bank (PNB) 3.3 percent.

Continued foreign investor buying also underpins shares. Overseas investors bought Indian cash shares worth $364 million and equity derivatives worth the same amount on Thursday despite derivative expiry.

Investors say the Reserve Bank of India's policy review on April 1, where it is widely expected to keeps rates unchanged, and general elections due by May would act as the next key catalysts for markets.

BSE Sensex: Early trade

The benchmark BSE Sensex surged to a new record-high by gaining over 146 points to 22,360.44 in early trade today on sustained buying by funds and retailers amid a firm trend on other Asian bourses.

The 30-share index climbed by 146.07 points, or 0.66 per cent, to 22,360.44 with all sectoral indices, led by realty and banking stocks, rising up to 1.28 per cent.

*BSE Sensex: Check Live Stocks

On similar lines, the National Stock Exchange index Nifty rose to another record-high by gaining 43.20 points, or 0.65 per cent, to 6,684.95.

Brokers said sustained buying by funds and retail investors amid a firming trend on other Asian bourses boosted the trading sentiment here.

* NSE Nifty: Check Live Stocks

Among other Asian markets, Hong Kong's Hang Seng rose by 0.44 per cent while Japan's Nikkei was up by 0.02 per cent in early trade today.


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