Mumbai, July 18 (UNI) India’s benchmark indices scaled to new high today as the BSE Sensex rose nearly 627 points breaching 81k-mark and closed at 81,343.46 on Thursday due to strong rally in the large cap shares including IT sector and heavy weight Reliance Industries.
The National Stock Exchange (NSE) index Nifty also gained 187.85 points to close at new high of 24,800.85.
Most of the day, the Sensex and Nifty were switching between red and green with marginal movement on either side. It was in the last hour of the trading when focus shifted to large cap and index shares and the rally was led by IT sectors on expectation of better than expected performance in the first quarter.
The Sensex opened weak at 80,514.25, sliding 202 points. It further lost 326 points at to touch day’s low of 80,390.37.
After first half it erased earlier losses, and zoomed nearly 806 points at 81,522.55, day’s high, before closing at 81,343.46, up 626.91 points from its previous close. The NSE registered days high and low at 24,837.75 and 24,504.45 points respectively.
The Foreign Institutional Investors (FIIs) bought equities worth Rs 1,271 crore and the Domestic Institutional Investors (DIIs) sold to the tune of Rs 530 crore in the last trading session, according to data available.
However, the broader market lagged behind the major indices due to high valuations and sectoral rotation. According to sources in the trading community, investors are moving towards large caps ahead of union budget assuming large cap is more stable compared to small and mid-caps.
The gainers in NSE were L&T by 3.48 per cent to Rs 5756, ONGC by 2.99 per cent to Rs 332.30, TCS by 2.84 per cent to Rs 4297.20 and Wipro by 2.41 per cent to Rs 573.20.
The losers were Hero Motocorp by 1.49 per cent to Rs 5495, Coal India Ltd by 1.48 per cent to Rs 504.85, and Asian paints by 1.40 per cent to Rs 2932.
In NSE, total 2791 scrips traded, of which 932 advanced, 1793 declined while 66 remained unchanged. While in the 30-shares sensex 22 ended in green and eight in red.
