Sensex betters record high on capital inflows;closes up 13 pt

The BSE benchmark Sensex today rose by 13 points to record closing high of 22,715.33 on sustained buying by funds in bluechips in a volatile session amid firming global trends.

Riding high on IMF growth forecast, the 30-share index today touched new all time high of 22,792.49 in early trade.

However, profit booking emerged later pulling the index down by 57 points to a day's low of 22,644.43 points. Finally, the barometer settled at 22,715.33, up by 12.99 points or 0.06 per cent.

Brokers said the market continued to lure foreign investors on growth prospects and pumped in Rs 60,000 crore this year so far, considering India a more attractive among emerging markets.

They said a firming trend in the Asian region and a higher opening in Europe as minutes from the Federal Reserve’s last meeting eased concern about when interest rates will increase, further fuelled the sentiment.

On similar lines, the broad-based Nifty of the National Stock Exchange climbed to an all-time high of 6,819.05 before settling 0.20 point up at 6,796.40, also a record closing level.

In 30-BSE index components, 16 stocks gained while 14 ended with losses.

Reliance Industries, State Bank of India, Axis Bank, Tata Motors, Tata Power and HDFC Ltd were among major gainers.

The power sector index gained the most by surging 2.52 per cent to 1,785.77 followed by capital goods by 1.61 per cent to 12,326.55. Realty index rose by 1.25 per cent to 1,552.79 and PSU index by 0.98 per cent to 6,531.05. 

Top gainers included HUL at 1.51 per cent, Coal India 1.42 per cent, Maruti Suzuki 1.34 per cent, Gail India 1.30 per cent, Wipro 1.23 per cent, Larsen 1.18 per cent and Axis Bank 1.15 per cent.

Dr Reddy's Lab fell by 2.72 per cent, Sun Pharma 1.85 per cent, Hero MotoCorp 1.70 per cent, Infosys 1.43 per cent, ITC 1.42 per cent and ICICI Bank 1.06 per cent.

Among the BSE sectoral indices, Power rose by 2.52 per cent, followed by consumer goods 1.61 per cent, realty 1.25 per cent and Oil&Gas 0.74 per cent, while healthcare fell by 1.47 per cent, IT 0.80 per cent and Teck 0.73 per cent.

The market breadth remained positive as 1,551 stocks finished in the green while 1,251 stocks ended in the red. The total turnover shot up to Rs 3,602.25 crore from Rs 2,407.59 crore yesterday.

"Undoubtedly, sentiments are favoring bulls at present as we have been seen bargain buying activities by market participants after every decline. But on the other hand, the benchmark index Nifty has now reached to its major hurdle (6825-6850) so it would be crucial to see how the market reacts in coming sessions," Mangalik said.

Asian stocks ended higher in choppy trade as China's central banks pumped money into the banking system for the first time in nine weeks. Key benchmark indices in China, Hong Kong, South Korea and Taiwan moved up by 0.20 1.51 per cent.

European markets were trading higher in their early trade as minutes from the Federal Reserve's last meeting eased concern about when interest rates will increase. Key benchmark indices in France, Germany and UK moved down by 0.19-0.58 per cent.