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Nifty breaches 7,700 mark, Sensex at new high on fund inflows

Wednesday, 11 June 2014 - 12:00pm IST | Agency: PTI

The NSE index Nifty today crossed the 7,700 level for the first time and the BSE Sensex hit yet another record high of 25,735.87 led by a rally in IT, auto banking and pharma stocks on sustained inflow of foreign capital.

The 50-issue Nifty crossed the 7,700 level for the first time by gaining 43.65 points, or 0.57%, to trade at an all-time high of 7,700.05, surpassing its previous intra-day high of 7,683.20 touched yesterday.

Brokers said sentiment was upbeat on sustained capital inflows and widespread buying by retail investors after the new government unveiled its agenda for economic reforms.

Software services exporter Infosys rallied by 4.66% to Rs 3,218.40, Tata Consultancy Services, country's top software exporter, climbed 1.27% to Rs 2,185.60 and Wipro jumped by 1.23% to Rs 531.45. Among banking stocks, SBI surged 2.11% to Rs 2,722.10 and Kotak Bank rose 2.61% to Rs 923.55. In the pharma sector, Sun Pharma jumped 1.07% to Rs 615.50, Cipla gained 1.77% to Rs 414.80 and Lupin by 1.52% to Rs 991.05.

Further, a mixed trends on the other Asian bourses influenced the trading sentiments here, they said. The benchmark BSE Sensex too climbed 152.18 points, or 0.59%, to trade at new record high of 25,735.87, breaking its previous record high of 25,711.11 reached in yesterday's trade. Among other Asian markets, Hong Kong's Hang Seng index was down 0.35% while Japan's Nikkei was up by 0.39%.

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