Mumbai: Stocks built on gains to hit fresh
life-time highs on late morning trade on across the spectrum
buying led by financials, banks, metal, consumer durables,
energy, power and basic materials amid higher Asian cues.
The benchmark BSE Sensex spurted by 343.42 points, or
0.99 per cent, to an intra-day record high of 34,935.81. The
broader Nifty also zoomed by 90.15 points, or 0.84 per cent at
10,771.40.
Domestic sentiments were upbeat on positive macro data
and recovery in corporate earnings along with high optimism
over global peers.
A robust industrial production (IIP) growth to 17-month
high of 8.4 per cent in November despite the retail inflation
logging a 17-month high of 5.2 per cent in December supported
the sentiment.
Major gainers were HDFC 4.76 per cent, ICICI Bank 3.40
per cent, Tata Steel 2.04 per cent, NTPC 1.42 per cent and
Kotak Bank 0.99 per cent.
Foreign portfolio investors (FPIs) sold shares worth Rs
158.16 crore on net basis while domestic institutional
investors (DIIs) bought equities to the tune of Rs 696.25
crore last Friday, provisional data showed.
Asian markets gained and built on the strong start to
this year and headed for a fresh record high amid optimism in
global growth.
The US markets will remain shut today for the Martin
Luther King Jr. holiday.
Better-than-expected quarterly earnings from some
financial majors and robust economic data boosted the
benchmark US indices to fresh closing highs last Friday.
PTI
