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Sensex, Nifty strike new peaks; Infosys best gainer at 3.4%

PTI     September 3, 2014

Rising for the ninth straight session, the BSE Sensex gained 120 points to close at fresh peak of 27,139.94 on Wednesday in IT stocks-led rally powered by positive global cues and continued overseas fund inflows.

The wide-based NSE Nifty index rose by 31.55 points to close at record 8,114.60 points. The index touched intra-trade record high of 8,141.90 points, surpassing previous record of 8,101.95 hit on Tuesday.

The 30-share Sensex opened on a strong footing and rose quickly to historic high of 27,225.85 points as buying momentum picked up.

But gains were capped by profit-booking at record levels and the barometer settled at 27,139.94-fresh record closing level -with net gains of 120.55 points or 0.45 per cent over last close.

The Sensex bettered its previous closing peak of 27,019.39 hit on Tuesday. The gauge has now gathered over 825 points in nine straight sessions. IT, realty, teck metal and capital goods stocks were in keen demand while some counters from FMCG, banking and power segments suffered losses.

IT stocks, led by TCS, were in the limelight on fresh spell of buying after bullish US manufacturing and construction data. TCS, Infosys and Wipro rose between 2.45 per cent and 3.4 per cent. Global markets also showed positive signs as tensions within Russia and Ukraine seemed to ease.

Softer crude oil prices further maintained positive momentum on the bourses. Stock specific buying was seen with Bharti Airtel and Coal India amongst major gainers, said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio Ltd.

Russia and Ukraine on Wednesday reached an agreement on a cease-fire in eastern Ukraine, sending lower brent crude prices to 16-month low near $100 a barrel. Meanwhile, Foreign portfolio investors (FPIs) infused Rs 672.81 crore on Tuesday as per provisional data.

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