Global cues lift Sensex, Nifty to new peaks

MUMBAI: Strong global cues and interest in blue-chip stocks helped the Bombay Stock Exchange benchmark Sensex close above the 15,000 level on Monday for the first time, although trade was limited to a narrow range amid speculation of a cut in banks' cash provisioning norms.

The BSE barometer hit a new intra-trade high of 15,085.22 and also ended the day at a new closing peak of 15,045.73, netting a rise of 81.61 points or 0.55 per cent over Friday's close of 14,964.12.

Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) too scaled a new trading peak of 4,427.55 before ending at a new record high of 4,419.40 from last close of 4,384.85, a net gain of 34.55 points or 0.79 per cent.

The market could maintain higher levels as buying support gathered momentum on the back of expectations of robust first quarter earnings and flow of encouraging corporate news.

Bank shares hogged the limelight on strong rumours that the Reserve Bank of India might cut Cash Reserve Ratio, the amount of depositors money that banks should hold in cash, while key capital goods counters BHEL and L&T continued to attract demand thanks to heavy orders that will boost their bottom line.

IT shares too scored impressive gains following a rally in their ADRs on the NASDAQ.

Asian markets were strong during the day. The Nikkei rose by 0.67 per cent and Taiwan by 1.98 per cent to hit seven-year highs at close.

Composite jumped 2.69 per cent, Hang Seng by 1.27 per cent, Singapore by 1.82 ST per cent and Kospi by 1.21 per cent.