Nifty marks fresh record high at 7109, up 1.35%

Written by PTI | Mumbai | Updated: May 14 2014, 01:18am hrs
The NSE Nifty maintained its unhindered surge today to record fresh historic high to close at 7,108.75, gaining 94.50 points, amid exit poll prediction that the BJP-led NDA is all set to form next government at Centre.

Optimism was the key-word as retail investors resorted to hectic buying triggered by the prospects of a stable business- friendly government at Centre.

The surge was also led by the data showing FIIs continuing to bolster the Indian benchmark, coupled with firm global cues, leading the indices to mark another life-time peak of 7,172.35 during intra-day trade.

Realty and energy counters spiked by 2.82 per cent and 2.81 per cent respectively while infra and IT counters by 2.60 per cent and 2.55 per cent respectively.

Shares of mid-cap and small-cap companies also shot up by 2.76 per cent and 2.65 per cent even as pharma counters extended the profit-booking.

As per the provisional data from the stock exchanges, the FIIs bought shares worth a net Rs 1,217.95 crore yesterday.

State-owned BHEL surged 10.22 per cent amid reports of government likely to ratifying the disinvestment deal, while HeroMotorco spurted by 5.48 per cent, AmbujaCem by 4.82 per cent.

The 50-share index rose to a high of 7,172.35 before closing at 7,108.75, showing a rise of 94.50 points, or 1.35 per cent, over its last close.

Other notable gainers were Bank of Baroda, DLF, ONGC, Tata Power, Grasim, Wipro and Reliance. While PNB, Dr Reddys, Cairn and Hindalco incurred losses.

Turnover in the cash segment jumped to Rs 22,246.75 crore from Rs 17,097.50 crore yesterday. A total of 12,935.80 lakh shares changed hands in 93,45,435 trades, while market capitalisation stood at Rs 77,64,280 crore.