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Nifty zooms to new historic high of 6,859, up 199 points

Friday, 9 May 2014 - 8:25pm IST | Agency: PTI

Sentiments did a turnaround from cautiousness to optimism as the Nifty today zoomed to a life-time high of 6,871.35 before closing to a fresh historic mark of 6,858.80 at the National Stock Exchange. Banking, Energy, FMCG, Auto, Infra, IT and Metal counters saw frenzied buying activity. Investors were enthused by surge in FII inflows, ahead of the Election results as the outcome is widely perceived to be a stable, business-friendly government. The bourses opened on sluggish note, but soon made gains as the session progressed, rallying to mark historic highs during intra-day trade. It extended the surge to end with a fresh historic high.

Banking shares were the star of the day spurting 5.47 per cent followed by Realty 4.82 per cent, Energy 3.52 per cent, Infra 3.49 per cent, Metal 3.21 per cent and Auto 2.30 per cent. Shares of mid-cap and small-cap companies also rallied 1.88 per cent and 2.09 per cent.

Foreign Institutional Investors (FIIs) bought shares worth a net Rs 363.24 crore yesterday as per the provisional data from the stock exchanges. The 50-share index marked a high of 6,871.35 and a low of 6,652.15 before closing at 6,858.80, showing a sharp rise of 198.95 points, or 2.99 per cent, over its last close. Infra major IDFC spurted 8.06 per cent followed by Ambuja cement 7.36 per cent, ICICI Bank 6.95 per cent and Tata Power 5.64 per cent.

Other notable gainers were Axis Bank, HDFC Bank, ACC, Hindalco, BHEL and Kotak Bank. Turnover in the cash segment jumped to Rs 16,634.89 crore from Rs 11,382.82 crore yesterday. A total of 9,002.18 lakh shares changed hands in 71,07,059 trades, while market capitalisation stood at Rs 74,92,755 crore. 

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