Reflecting an upbeat mood in the markets, the BSE Sensex has crossed the 29,000-mark for the first time and the Nifty touched 8,774.15 with sustained buying by funds in healthcare, capital goods, metal and auto sector stocks. The BSE Sensex crossed the landmark 29,000-level for the first time to hit a life-time high of 29,060.41.
After losing some gains, the 30-share index settled at a closing peak of 29,006.02, up by 117.16 points, or 0.41 % over the previous close. The index has now gone up by 1,659.20 points in the six consecutive sessions. Improving macroeconomic data, surprise rate cut by the RBI last week and encouraging Q3 earnings by some bluechip companies and positive global cues propelled the market to hit new highs. Meanwhile, foreign portfolio investors (FPIs) remained the major driver behind the ongoing bull run. FPIs bought shares worth a net Rs 2,065.49 crore on Wednesday, according to provisional data from the stock exchanges.
The Sensex stocks which supported it to hit fresh highs were Sun Pharma (3.65 pc), Axis Bank (3.30 pc), Tata Motors (2.70 pc), ONGC (2.01 pc), Cipla (1.73 pc), Tata Steel (1.51 pc), Infosys (1.41 pc), Coal India (1.24 pc), Wipro (1.17 pc), Dr Reddy (1.01 pc), L&T (0.86 pc), Sesa Sterlite (0.83 pc), BHEL (0.67 pc), M&M (0.47 pc), HUL (0.40 pc), Hindalco (0.24 pc) and Bharti Airtel (0.24 pc). Sectorwise, the BSE Healthcare index gained the most by 1.69 per cent, followed by Capital Goods index 1.12 %, Auto index 0.72 %, Metal index 0.67 %, Realty index 0.54 %, IT index 0.45 %, Banking index 0.37 %, Power index 0.22 % and FMCG 0.2 %.