BSE Sensex hits record high for 3rd straight day at 22,876.54; Larsen & Toubro gains

Apr 23 2014, 17:17 IST
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The broader NSE Nifty closed 0.37 percent higher at 6,840.80. The broader NSE Nifty closed 0.37 percent higher at 6,840.80.
SummaryBSE Sensex touches new high as infra-related companies extend recent gain.

The BSE Sensex today rose by 118 points to record closing high of 22,876.54 points on buying by funds mainly in capital goods and banking stocks amid monthly expiry in derivatives.

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Similarly, the broader NSE Nifty too gained 25.45 points, or 0.37 per cent to settle at record 6,840.80 after touching all time intra-day high of 6,861.60 points.

Buying activity further gathered momentum as investors covered their pending short postions on monthly settlement in the derivatives segment, brokers said.

Market remained in a record setting spree on sustained capital inflows, they added.

The 30-share Sensex touched record intra-day high of 22,912.52 points on rise in Larsen & Toubro, HDFC Bank and ICICI Bank.

Later, it pared some of the gains to settle at 22,876.54, up by 118.17 points, or 0.52 per cent.

"Nifty is showing continued strength on the upsides and is able to hold well above 6800 level for last three trading sessions. Technically, markets are showing optimism and buying is likely to continue in coming sessions," Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio Ltd, said.

In 30-BSE index components, 18 stocks gained and 10 declined, while Hindalco and Bajaj Auto held unchanged.

Larsen & Toubro was the biggest gainer among Sensex scrips rising by 2.48 per cent after positive recommendations by brokerages.

HDFC Bank, which posted strong Q4 results, ICICI Bank, ITC and GAIL rose up to 1.48 per cent. Bharat Heavy Electricals Ltd (BHEL), Axis Bank, Tata Steel and *Mahindra & Mahindra were also among major gainers.

On the other hand, IT major Wipro fell for the third session posting losses of 1.19 per cent on lower than expected revenue guidance. NTPC and Tata Motors too fell up to 1.49 per cent.

The capital goods sector index gained the most by rising 1.49 per cent to 12,761.14 followed by banking index by 1.12 per cent to 15,012.05. Healthcare index rose by 0.44 per cent to 10,571.61 and FMCG index by 0.41 per cent to 6,978.05.

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