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  1. Sensex scales 28,000; record closing for Nifty

Sensex scales 28,000; record closing for Nifty

On Wednesday, foreign institutional investors (FIIs) bought $171 million worth of equities.

By: | Mumbai | Updated: November 6, 2014 5:49 AM

With Brent crude trading at a four-year low, benchmark indices continued their positive run on Wednesday. The BSE benchmark Sensex touched the 28,000 mark for the first time and the 50-unit CNX Nifty posted another record closing high.

On Wednesday, foreign institutional investors (FIIs) bought $171 million worth of equities, while domestic institutional investors (DIIs) sold $200 million. YTD, FIIs have pumped over $14 billion into Indian equities.

On Wednesday, the 30-share BSE Sensex ended higher by 55.50 points, or 0.20%, at 27,915.88 — a fresh closing high. It touched an intra-day high of 28,010.39. The broader 50-share Nifty ended up 14.15 points, or 0.17%, to close at 8,338.30.  Brent crude was trading at $82.52/barrel at 7 pm IST after top oil exporter Saudi Arabia cut sales prices to the US, as per a Reuters report.

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The market rally was led by gains in Axis Bank, which ended 2.93% higher at R457.70. Dr Reddy’s Laboratories (2.27%), SBI (2.24%), Sun Pharma (2.10%), ICICI Bank (1.84%) and BHEL (1.72%) were other major gainers.

Among peers, most Asian markets ended lower. The Hang Seng (-0.63%), Kospi (-0.19%), Shanghai Composite (-0.42%), Taiwan Taiex (-0.30%) and Jakarta Composite (-0.08%) ended in the red. The Nikkei (0.44%) and Straits Times (0.18%) ended in the green.

Back home, 16 of the 30 Sensex stocks ended in the red on Wednesday. In the broader market, breadth was strong with 1,619 stocks traded on the BSE ending higher compared with 1,394 stocks retreating. Most of the 12 BSE sectoral indices ended in the green. The BSE Bankex (1.41%),

BSE Healthcare (1.01%) and BSE IT (0.73%) ended in the green.

The NSE cash turnover on Wednesday stood at R20,300 crore, while that in the F&O segment stood at R1.59 lakh crore.

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