Mumbai May 17 (IANS) Continuing the bull run in the Indian equity markets the key indices -- the Sensex and the Nifty -- scaled new highs again on Wednesday.
The benchmark indices which opened on a slightly lower note on weak global cues pared their losses and closed in the green as healthy buying in metal and automobile stocks buoyed investors sentiments.
The 30-scrip Sensitive Index (Sensex) of the BSE closed at a new high of 30 658.77 points -- up 76.17 points or 0.25 per cent from its previous close at 30 582.60 points.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) also rose by 13.50 points or 0.14 per cent to 9 525.75 points -- a new closing high.
Besides during intra-day trade the BSE Sensex scaled a new high of 30 692.45 points and the NSE Nifty of 9 532.60 points.
The new intra-day highs of the benchmark indices are also their new 52-week highs.
On Tuesday the BSE Sensex closed at a high of 30 582.60 points and intra-day high of 30 591.55 points while the NSE Nifty closed at a high of 9 512.25 points and an intra-day high of 9 517.20 points.
However the broader markets underperformed the Sensex. The S&P BSE mid-cap index fell by 0.02 per cent and the small-cap index by 0.18 per cent.
Anand James Chief Market Strategist of Geojit Financial Services said: Scaling of 9 500 a psychological mark in the Nifty boosted investors sentiments while continued FII (foreign institutional investors) buying and consistently low volatility also served to help investors allay fears of sustainability of ongoing rally.
On the currency front the rupee weakened by seven paise to 64.15-16 per US dollar from its previous close of 64.08-09.
In investments provisional data with the exchanges showed that FIIs sold stocks worth Rs 731.39 crore while domestic institutional investors (DIIs) purchased scrips worth Rs 614.51 crore.
Banking sector stocks traded with bearish sentiments throughout the session on profit booking. Shares of Tata Steel gained over eight per cent after it reported a stellar set of numbers for the fourth quarter on a standalone basis Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
Power sector stocks complemented the firmness of the equity markets.
Sectorwise the S&P metal index augmented by 267.22 points followed by the automobile index by 135.40 points and the capital goods index by 38.87 points.
On the other hand the S&P consumer durables index fell by 121.65 points the oil and gas index slipped by 52.85 points and the healthcare index was down by 44.97 points.
Major Sensex gainers on Wednesday were: Tata Steel up 7.95 per cent at Rs 493.35; Tata Motors up 2.82 per cent at Rs 449.65; ICICI Bank up 2.35 per cent at Rs 309.80; Tata Consultancy Services (TCS) up 0.99 per cent at Rs 2 451.35 and Asian Paints up 0.88 per cent at Rs 1 153.85.
Major Sensex losers were: Wipro down 1.70 per cent at Rs 506.05; Adani Ports down 1.40 per cent at Rs 349.25; Cipla down 0.94 per cent at Rs 559.10; HDFC down 0.89 per cent at Rs 1 552.65; and ITC down 0.56 per cent at Rs 281.85.
--IANS
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Sensex, Nifty hit fresh highs, metal stocks surge (Roundup)
