Sensex, Nifty log new highs

Sensex, Nifty log new highs

Indian indices hit all time highs despite the U S Federal Reserve’s decision to put an end to the quantitative easing programme. 

While the Sensex ended 248 points higher at 27,346.33, the Nifty ended points higher at 8,169.20 after hitting an all-time intra-day high of 8,181.55 during the day.

DLF was the top gainer among index stocks ending up more than 5 per cent after the govt approved Foreign Direct Investment in construction. Other gainers in the real estate space included Unitech, HDIL, Indiabull Real Estate and JP Infratech.

Banking shares were also in the limelight as ICICI Bank and Yes Bank did not disappoint on the earnings front. Yes Bank rallied nearly 4 per cent to close at Rs 662.60. ICICI Bank ended marginally higher (up 0.5 per cent) at Rs 1611.50.

Energy index ended up over 1.5 per cent supported by Reliance Industries which gained 2.91 per cent. 

Gail India was another major gainer in this sector gaining 1.75 per cent. Cairn India was a major loser among energy stocks, ending down nearly 1.3 per cent at Rs 282 after continuous fall in crude oil prices. The counter had been witnessing a rise for the past 2 days.

According to market experts, investors should exercise a bit of caution at the current levels as upside could be limited. 

“India VIX rose around 2 per cent in the trading session today which suggest the upside could be limited. European markets were seen trading in the red and Investors are likely to keep a close eye on US markets as well” , Kiran Kumar Kavikondala, Director & CEO, WealthRays Securities said.

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