Sensex scales new highs; Yes Bank, HCL Tech gain on upbeat first-quarter
ha Kareen Nair
Indian shares hit a record high for a third straight session on Thursday as upbeat results from Yes Bank Ltd
The MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.9 percent, as bulls scented a softening in the Federal Reserve`s confidence on inflation that promised to keep U.S. interest rates low for longer than expected.
The broader NSE Nifty on Tuesday surpassed the 10,000 point mark for the first time amid a raft of positive corporate results even as analysts continued to warn about potential consolidation.
"There is a clear sense of euphoria at the moment ... investors should hold on to their portfolios ... owing to an improving (domestic) economy and decent corporate results among other factors," said Umesh Mehta, head of research at SAMCO Securities.
"A correction is due and we can expect to see some as early as next week."
The NSE index rose as much as 0.94 percent to a fresh record of 10,114.85. It closed above 10,000 points for the first time ever in the previous session.
The benchmark BSE Sensex gained 0.90 percent to touch a life-high of 32,672.66.
Yes Bank continued to surge for a second day after posting upbeat quarterly results on Wednesday, drawing a string of price target hikes by several brokerage firms including JP Morgan, Jefferies, and Deutsche Bank.
The stock rose as much as 5 percent to a record high. The NSE bank index was up 0.96 percent.
HCL Technologies Ltd
Indiabulls Real Estate Ltd
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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