BSE Sensex hits sixth straight record high; Bharti Airtel, Hindalco gain

Written by fe Bureau | Mumbai | Updated: Mar 31 2014, 19:07pm hrs
BSE SensexBSE Sensex and NSE Nifty scale new highs on strong capital inflows from foreign funds and expectations of RBI keeping key rates.
The BSE Sensex hit record highs for a sixth consecutive session on Monday on the back of continued gains in blue-chips. The BSE Sensex is up 0.14 percent, after earlier gaining as much as 0.6 percent to a record high of 22,467.21 points, while the Nifty is trading flat after earlier touching an all-time high at 6,730.05 points.

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The NSE Nifty is up around 6.9 percent so far this month, headed for its biggest gain since October 2013. For the quarter, the index is up around 6.5 percent, its second consecutive monthly increase after a 9.9 percent rise in October-December.

Foreign institutional investors bought Indian shares worth 13.63 billion rupees on Friday, provisional exchange data showed. Overseas investors have so far ignored everything negative globally, with overseas funds purchasing a net $3.2 billion so far this month, exchange and regulatory data showed.

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Experts feel RBI is likely to hold the interest rates. "The likelihood of the RBI keeping its interest rate stance on hold could boost the market sentiment further," Standard Chartered Securities said in its morning note.

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Among sectoral indices, the BSE Consumer Durables (2.74%), BSE Metal (1.24%) and BSE Realty (0.95%) were the major gainers. Bharti Airtel (1.86%), Hindalco Industries Ltd (1.73%) and Tata Steel (1.31%) were trading higher on the 30-share Sensex.

Among Asian indices, the Nikkei (0.64%), Hang Seng (0.28%), Straits Times (0.51%) and Jakarta Composite (0.96%) were the major gainers. (With agency inputs)

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