BSE Sensex hits new record high as Larsen & Toubro, HDFC share prices soar, outlook divided

Jan 23 2014, 22:01 IST
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BSE Sensex scales new high of 21,373.66, up 35.99 points. (AP) BSE Sensex scales new high of 21,373.66, up 35.99 points. (AP)
SummaryIndia's benchmark BSE Sensex hit a second consecutive record closing high on Thursday.

The BSE Sensex today closed at fresh record high of 21,373.66 points by gaining 35.99 points on funds buying driven by strong corporate earnings by Larsen & Toubro (L&T) and housing finance major HDFC.

Markets Top Gainers, Markets Top Losers

The BSE Sensex rose further by 35.99 points, or 0.17 per cent, to settle at new record high of 21,373.66 points, just a day after it scaled the peak of 21,337.67 points. In the previous three sessions the 30-share index has gained 274 points.

The gauge still remained a little away from an intra-day high of 21,483.74 touched on December 9 when the results of Assembly elections were announced. It touched an intra-day high of 21,409.66 today.

The broad-based National Stock Exchange index NSE Nifty rose by 6.70 points, or 0.11 per cent to 6,345.65, after touching a high of 6,355.60.

Brokers said trading sentiment remained bullish on steady inflow of corporate earnings by bluechips, latest by Larsen and Toubro.

Attractive third quarter earnings were announced by HDFC Ltd, Amara Raja Batteries and Torrent Pharmaceuticals Ltd this week.

Larsen and Toubro surged 2.81 per cent to Rs 1,033 after the company posted better than expected profits for the third quarter ending December 31.

They said the buying activity was so strong that poor performance in global markets failed to influence the sentiment.

However, fall in Reliance Industries and Mahindra & Mahindra (2.82 per cent) restricted the gains, they added.

In 30-BSE index components, 14 stocks gained while 16 ended lower.

The consumer durable index gained the most by rising 2.33 per cent to 5,726.80 followed by capital goods index by 1.84 per cent to 9,889.53.

The FMCG index rose by 0.14 per cent to 6,606.82 and healthcare index by 0.12 per cent to 10,329.94.

Gaurang Shah, Assistant Vice President, Geojit BNP Paribas Financial Services Ltd:

Cheerful day for the Indian markets despite the fact that there were weak overnight global markets & the Asian markets too were in deep red. The recovery on the Sensex & Nifty in the second half was lead by Cap Goods,FMCG & Healthcare while the draggers were Autos, Metals & Oil & Gas. We expect the up move to continue for tomorrow and on Monday next week before hitting the policy day on Tuesday on 28th Jan. Volatility is likely to gain steam as we move closer to the F&O as

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