BSE Sensex touches life-time high at 21,492, NSE Nifty only 35 points away

Mar 07 2014, 01:57 IST
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BSE Sensex touched life-time high, spurred by the 8-year low current account in Q3. BSE Sensex touched life-time high, spurred by the 8-year low current account in Q3.
SummaryBSE Sensex is spurred by the 8-year low current account deficit for December quarter.

The BSE Sensex touched life-time high of 21,492.49 on Thursday at 2.00pm IST with the rupee trading at nearly 3-month high at 61.31 against dollar, spurred by the 8-year low current account deficit reported on Wednesday. Meanwhile, the NSE's Nifty was trading just 35.6 points away from its all-time intra-day high.

Experts feel markets are likely to rally further. "Markets are likely to remain strongly positive today on run-up to elections and decent current deficit data. Most sectors are likely to do well. Immediate support for Nifty is at 6280, while resistance is at 6414 levels," said HDFC Securities in its morning note. The CAD for the December quarter fell to 0.9% of the gross domestic product (GDP).

Among sectoral indices, the BSE Realty (3.27%), BSE Metal (1.60%), BSE Oil & Gas (1.67%) and BSE Capital Goods (1.51%) were the major gainers. Among individual stocks, Bharat Heavy Electricals Ltd (BHEL) (3.72%), ICICI Bank (3.06%) and Hindalco (2.77%) were the major gainers on the 30-share Sensex. Most Asian indices were trading in the green.

The Nikkei (1.59%), Hang Seng (0.52%), Straits Times (0.33%), Kospi (0.22%) and Jakarta Composite (0.35%) were trading higher. Markets would be eyeing the US jobs data, which would be out on Friday, for further cues.

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