Sensex, Nifty Resume Record Breaking Rally After A Day's Break
The S&P BSE Sensex and NSE Nifty 50 Indexes resumed their record breaking spree after a day's pause in the previous session. Rally in today's session was fuelled by gains in HDFC, Reliance Industries, HDFC Bank, Tata Consultancy Services and ICICI Bank. The Sensex rose 330 points or 0.84 per cent to close at an all-time high of 39,832 and the NSE Nifty 50 Index surged 85 points or 0.71 end at record closing high of 11,946. The Sensex and Nifty closed at all-time high levels for a fourth session in a row barring yesterday's session amid expiry of futures and options contracts for the month of May.
In the May series, Nifty surged 2.6 per cent and the Sensex climbed 2.84 per cent making it the best futures and options series for the benchmarks since March, when Sensex climbed 7.47 per cent and Nifty surged 7.2 per cent.
The rally in the Indian markets was fuelled after Prime Minister Narendra Modi-led Bharatiya Janata Party won the general elections with a thumping majority indicating that the structural economic reforms undertaken by the previous National Democratic Alliance (NDA) government will continue, market analysts said.
In today's session, fifteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Power Index's 1.6 per cent surge. Utilities, Telecom, Information Technology, Finance, Energy and Bankex sector gauges also ended higher between 0.75 and 1.5 per cent each.
On the flipside, S&P BSE Auto Index was top loser, the gauge fell 0.6 per cent.
Mid- and small-cap shares underperformed their larger peers as the S&P BSE MidCap Index rose 0.4 per cent and S&P BSE SmallCap Index advanced 0.2 per cent.
NTPC was top gainer, in the Nifty 50 basket of shares, the stock rose 3.3 per cent to close at Rs 132.25. Yes Bank, Bajaj Finance, Bharti Airtel, Bharat Petroleum, Tata Consultancy Services and GAIL India were also among the gainers.
On the flipside, Sun Pharma, Eicher Motors, Zee Entertainment, Mahindra & Mahindra, ONGC, Bharti Infratel and JSW Steel were among the losers.
