Sensex, Nifty hit new highs on World Bank ranking, earnings
The benchmark BSE Sensex zoomed over
387 points to close at a fresh life-time high of 33,600 while
Nifty topped the 10,450-mark for the first time, powered by
India's jump on World Bank's 'Ease of Doing Business' list.
India went up by 30 notches to 100th position on the
World Bank ranking, released yesterday.
Moreover, eight core sectors growing to a six-month high
of 5.2 per cent in September and positive leads from global
market accelerated the buying pace that lifted key indices to
The Sensex settled at a new closing peak of 33,600.27, up
387.14 points, or 1.17 per cent. The index surpassed its
previous closing record of 33,266.16, touched on October 30.
Yesterday, the gauge had retreated from record by losing
Similarly, the broader 50-issue NSE Nifty breached the
10,450-mark for the first time to hit a new intra-day peak at
10,451.65, bettering its record of 10,384.50 hit on October
However, profit-taking at record levels erased gains and
finally settled at 10,440.50
Better-than-estimated earnings by some more companies too
bolstered trading sentiments.
The market rally was driven by strong buying in telecom,
banking, realty, metal, FMCG and PSU counters. Traders said
uninterrupted pumping of funds into equities by domestic
institutional investors also boosted investor sentiment.
In the Sensex kitty, Bharti Airtel emerged biggest gainer
by jumping over 8 per cent even as the company posted sixth
straight quarter of drop on earnings as its consolidated net
profit plunged 76.5 per cent for the September quarter.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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