Mumbai May 11 (IANS) The key Indian indices again surged to new highs on Thursday as substantial inflow of foreign funds coupled with an appreciating rupee and global cues kept investors sentiments buoyed.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) recorded a new closing high of 9 422.40 points -- up 15.10 points or 0.16 per cent.
Similarly the barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at a new high of 30 250.98 points -- up 2.81 points or 0.01 per cent from its previous close at 29 933.25 points.
The benchmark indices had scaled new closing highs on Wednesday -- the NSE Nifty at 9 407.30 points and the Sensex at 30 248.17 points.
On Thursday the benchmark indices also touched record intra-day highs as well as new 52-week highs. The Nifty scaled a new intra-day high of 9 450.65 points and the BSE Sensex of 30 366.43 points.
In terms of the broader markets the S&P BSE mid-cap index was up a tad by 0.05 per cent whereas the small-cap index inched down by 0.05 per cent.
The Nifty opened with upside gap of around 41 points and made an attempt to move up during early part of the session. It later shifted into sideways range for better part of the day and slipped into decline towards the end Deepak Jasani Head (Retail Research) HDFC Securities told IANS.
Major Asian markets have all ended on a mixed note. European indices like FTSE 100 and DAX currently traded in the positive trend and CAC 40 traded lower.
Weak market breadth showed that investors were looking for fresh cues to chase prices higher said Anand James Chief Market Strategist of Geojit Financial Services.
Index heavyweights helped Nifty positive while rate sensitives also edged higher on the back of upbeat monsoon forecast. But a restraint was visible especially with inflation and production figures expected tomorrow.
According to the Ministry of Commerce and Industry the new series of Wholesale Price Index (WPI) and Index of Industrial Production (IIP) data with revised base year of 2011-12 is slated for release on Friday May 12.
Dhruv Desai Director and Chief Operating Officer of Tradebulls said the equity benchmark Index CNX Nifty (futures) traded with firm sentiments and continued bull run tracking positive Asian cues and appreciation of the rupee against the US dollar.
The Indian rupee strengthened by 24-25 paise to 64.38 per US dollar from its previous close of 64.62-63.
Banking sector stocks traded with mixed sentiments throughout the session due to profit booking whereas auto stocks extended last session s gain on strong buying support Desai told IANS.
Cement and media-entertainment stocks complemented the firmness of the equity markets.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 1 306.71 crore while domestic institutional investors (DIIs) divested scrip worth Rs 1 037.18 crore.
Sectorwise the S&P BSE consumer durables index augmented by 262.06 points followed by the automobile index by 225.04 points and the healthcare index by 81.56 points.
On the other hand the S&P BSE oil and gas index fell by 134.37 points the capital goods index by 91.37 points and the power index by 28.84 points.
Major Sensex gainers on Thursday were: Hero MotoCorp up 4.26 per cent at Rs 3 463.80; Bajaj Auto up 3.41 per cent at Rs 2 998.25; Adani Ports up 2.28 per cent at Rs 358.95; State Bank of India up 1.15 per cent at Rs 298 and ITC up 1 per cent at Rs 276.65.
Major Sensex losers were: Gail down 2.14 per cent at Rs 408.70; ONGC down 1.94 per cent at Rs 184.20; Hindustan Unilever down 1.78 per cent at Rs 978.15; Bharti Airtel down 1.77 per cent at Rs 366.10; and Axis Bank down 1.69 per cent at Rs 517.10.
--IANS
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Foreign funds inflows lift Indian equities to new highs (Roundup)
