Sensex, Nifty hit new highs for second day on exit poll hopes

Mumbai: Stocks markets sustained their record-breaking show as BSE standard Sensex ended at new final high of 23,551 and NSE Nifty at 7,014.25 in expectation that exit polls later on Monday will show formation of a constant government at the Centre.

Intra-day, the Sensex rallied to an all-time high of 23,572.88, surpassing preceding high of 23,048.49 and the Nifty touched 7,020.75, contravention the former high of 6,871.35.

Shares of processing plant, power, auto, capital goods, banking, FMCG and metal compressed up stridently on good buying support from investors and operators. Consumer sturdy, IT and Teck sectors also compressed up in line with other sectors. Healthcare, however, declined on gentle advertising.

The Sensex resumed higher at 23,031.11 and compressed up additional to an all-time high of 23,572.88, before settling at 23,551.00, viewing a sharp rise of 556.77 points or 2.42 percent from its last weekend's evidence ultimate of 22,994.23.

The NSE 50-share Nifty crossed 7,000 level for the first time in the times gone by to touch 7,020.75. It to end with defunct at 7,014.25, showing a smart gain  of 155.45 points or 2.27 percent. It surpassed preceding final high of 6,858.80.

The rupee was trading at 59.8 levels beside US dollar.

Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "Positive sentiments in the worldwide equities helped our local index to deal strong. index posted new all time highs... In anticipation  that the exit polls today will show BJP on the charming side."

The nine-phase long Lok Sabha polls end today and the first set of exit polls are predictable to be out shortly.

Sentiments were boosted on explanation of brawny capital inflows into the Indian equity market. Last Friday, a net Rs 1,268.78 crore was pumped as per temporary data from the stock relations.

Most Asian stocks broken higher after Chinese President Xi Jinping allegedly said the country needs to adapt to a new usual" in the pace of financial expansion.

Key standard indices in South Korea, Hong Kong and China  over higher in 0.43 percent to 2.08 percent range.

Indices  in Japan, Singapore and Taiwan eased by 0.35 percent to 0.91 percent.
European stocks were trading assorted in their near the beginning trade with mining shares advancing after information of a sector advance. standard indices in the UK and Germany were up 0.19 percent and 0.27 percent in that order while France's CAC was down 0.17 percent.

Sensex, Nifty zoom to all-time high; Sun Pharma, banks lead gains

Mumbai: The BSE standard Sensex on Wednesday surged by over 358 points to resolve the day at all-time final high of 22,702 after the IMF forecast of 5.4 percent growth in 2014 triggered hectic buying by FIIs who anticipate market- friendly policies by the new management post-elections.

Share brokers said that with a strong GDP forecast, rupee strengthening and increase being under control, markets could be in the middle of big rallies in the next couple of months.

Sensex gains over 223 points to snap three-day losing streak

Mumbai: Snapping its three-day losing streak, the BSE benchmark Sensex recovered over 223 points in early trade Monday on emergence of buying by funds amid a firming trend in other Asian markets.

The 30-share index, which had lost nearly 674 points in the previous three sessions, recovered 223.26 points, or 1.10 percent, to 20,440.65, with stocks of banking, realty, oil and gas and FMCG sectors leading the recovery.

The National Stock Exchange Nifty moved up by 68.75 points, or 1.15 percent, to 6,064.20.

Brokers said emergence of buying by funds and retail investors amid a firming trend in other Asian bourses, after US markets hit another record high on Friday, mainly buoyed the trading sentiment here.

Besides, expectations of a drop in import bill after crude oil prices fell in the overseas markets, following a key deal between world powers and Iran on its controversial nuclear programme, also triggered buying activity, they said.

Stocks of state-run oil marketing companies such as Indian Oil rose 1.99 percent to Rs 204.70. Hindustan Petroleum rose 4.25 percent to Rs 211 and Bharat Petroleum gained 2.68 percent to Rs 341.60.

Reliance Industries shares also gained 1.27 percent to Rs 854.65.

In other Asian markets, Japan's Nikkei index rose by 1.36 percent, while Hong Kong's Hang Seng gained 0.56 percent in early trade today.

The US Dow Jones Industrial Average surged to yet another high by gaining 0.34 percent on Friday.

BSE Sensex fails to maintain initial gains, turns negative

 
New Delhi: The S&P BSE benchmark Sensex failed to maintain initial gains and was quoted lower in afternoon trade Monday on selling pressure mainly in consumer durables and IT counters.

The 30-share index opened higher at 20,915.76 and moved up to 20,970.92 on buying in capital goods, auto and realty shares on the back persistent capital inflows from foreign funds coupled with higher global cues.

However, it later dropped to 20,787.56 and was quoted at 20,810, showing a loss of 72.74 points, from its last weekend's level.

Similarly, the 50-share NSE benchmark Nifty moved lower by 7.70 points, to 6,182.

Foreign institutional investors (FIIs) bought shares worth Rs 1752.98 crore on last Friday, according to provisional data from the stock exchanges.

Asian markets rose as traders continued buying spree that began last week on bets that US Federal Reserve will continue its monetary stimulus for the world's largest economy.

Key benchmark indices in Singapore, Hong Kong, China, Indonesia and Japan rose between 0.1 percent and 1.13 percent, while indices in South Korea and Taiwan fell between 0.12 percent and 0.21 percent.

Sensex up over 150 points, trading above 19K-level

Mumbai: The rupee on Friday strengthened further by 20 paise to 65.81 against the dollar in early trade, largely supported by recent RBI measures.

Meanwhile, the BSE benchmark index Sensex rose by 163.71 points to 19,143 in late morning trade. Similarly, the wide based Nifty rose 16.15 points to 5,509.

The domestic currency had gained 106 paise to close at 66.01 yesterday against the dollar after steps taken by new RBI Governor Raghnuram Rajan to attract US currency inflows.

To support the rupee, RBI announced steps such as enhanced limits for exporters to re-book cancelled forward exchange contracts and a special concessional window to swap foreign currency non-resident (FCNR) deposits.

Dealers said besides increased dollar selling by exporters, a higher opening in domestic equity market and dollar's weakening against some currencies overseas helped the rupee rise.