BSE Sensex hits all-time high of over 22,000 intra-day; HDFC Bank, L&T shares soar

Mar 10 2014, 20:59 IST
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BSE Sensex edges 15 pts higher to end at 21,934.83. (Reuters) BSE Sensex edges 15 pts higher to end at 21,934.83. (Reuters)
SummaryBSE Sensex hits lifetime high of 22,024 pts and closed at yet another record of 21,935 pts.

The benchmark

BSE Sensex today hit a lifetime high of 22,023.98 and ended at yet another record close of 21,934.83 with a modest gain of 15 points, extending the winning run to the fifth day, aided by overseas investor interest in capital goods, realty and banking shares.

The NSE Nifty also closed at a new peak of 6,537.25 by adding 10.60 points, or 0.16 per cent. It hit all-time high of 6,562.20 during the day.

The BSE Sensex advanced 15.04 points, or 0.07 per cent to end at 21,934.83, surpassing the previous record of 21,919.79 set on last Friday. In five days, it has gained 988 points.

Intra day, the 30-share gauge hit 22,023.98 on solid buying in bluechips like HDFC Bank, Larsen & Toubro, Maruti Suzuki India and Mahindra & Mahindra Ltd.

"Positive global cues, optimism ahead of upcoming elections and FIIs buying is leading to sustained momentum in the index," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.

Index heavyweight Reliance Industries spurted 1.93 per cent on expectations of higher production at gas fields.

Overseas investors have remained net buyers for the past three weeks and have helped in pushing up key indices by nearly 4.5 per cent since February 26, said traders.

Brokers said the market remained in a bullish mood as recent reports have shown the economy is on recovery mode.

Support from engineering and interest-rate linked stocks helped the domestic market consolidate gains. However, IT stocks saw continued profit-booking as the rupee strengthened.

In the Sensex, 15 stocks ended in the green while the other 15 closed in the red -- limiting overall gains.

Other major gainers were SBI, ICICI Bank, Axis Bank, BHEL, Bajaj Auto and Bharti Airtel.

Infosys, TCS and Wipro declined, pulling down the BSE IT sector index by 2.42 per cent.

On the gainers side, the BSE Capital Goods sector index gained the most by rising 2.77 per cent, followed by Realty index by 2.47 per cent, Banking index 1.91 per cent and Oil & Gas index 1.12 per cent.

Sensex breaches 22,000 mark before closing lower, Nifty also hits new peak

(Reuters): BSE Sensex index managed slight gains on Monday after earlier posting its third consecutive record high as shares of domestic-focused companies, including HDFC Bank, extended a rally on the back of signs of strong foreign buying.

Foreign investors bought a net 25.77

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