Published: Fri, May 12, 2017
Research | By Chelsea Rogers

Sensex, Nifty hit new highs; auto, metal stocks soar

Sensex, Nifty hit new highs; auto, metal stocks soar

It further stated that Asian indexes were cautiously higher in early Thursday trade, following a mixed close stateside as investors noted Snap's United States dollars 2.2 billion loss, and monitored potential fallout on President Donald Trump's policies after FBI Director James Comey was sacked.

On similar lines, the 50-share NSE Nifty gained 15.10 points or 0.16 per cent to 9,422.40 after scaling a fresh intra-day high of 9,450.65.

The 30-share index rallied by 98.52 points, or 0.32 per cent, to hit a new peak of 30,346.69, breaking its previous record of 30,271.60 points (intra-day) touched in yesterday's trade. Sensex had also soared 338 points to touch 30,271.

The BSE Sensex rose more than 1 percent on Thursday to its highest close in a month as stocks of blue chip companies such as.

The NSE Nifty declined by 74.60 points or 0.80 per cent to 9,285.30 points, while the BSE Sensex closed at 29,858.80 points - down 267.41 points or 0.89 per cent. "European indices like FTSE 100 and DAX now traded in the positive trend and CAC 40 traded lower".

The pan-European STOXX 600 index fell 0.2%, led down by construction and materials stocks, having hit its highest since August 2015 on Tuesday. "A good monsoon will raise the prospects of the Indian economy especially for FMCG and consumer durables sector", said Vinod Nair, Head of Research, Geojit Financial Services.

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On Friday, the benchmark indices closed in the red due to profit booking.

However, Bharti Airtel fell 2.21 percent, Gail 2.14 percent, ONGC 1.94 percent, HUL 1.78 percent, Axis Bank 1.69 percent, NTPC 1.39 percent, Coal India 1.20 percent, Power Grid 1.14 percent and Tata Motors 1.08 percent.

Midcaps and banks gained around half a percent, along with the IT index.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) purchased stocks worth Rs 1,306.71 crore, while domestic institutional investors (DIIs) divested scrip worth Rs 1,037.18 crore.

Among other Asian markets, Hong Kong's Hang Seng was up 0.64 per cent while Japan's Nikkei gained 0.30 per cent in early trade.

Major contributors to the key indices were HeroMoto, Bajaj Auto, Adani Ports, ITC, Sun Pharma, and SBI.

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