Sensex Surges To Record High

Earnings

The 50-share NSE Nifty gained 43.35 points, or 0.46 per cent, to quote at a life-time high of 9,450.65.

On similar lines, the National Stock Exchange index Nifty surged 73.30 points, or 0.78 per cent, to 9,390.15, overtaking its previous (intra-day) high of 9,377.10 reached on May 5.

The Sensex has so far touched a high of 30,016.04 points - crossing the important 30,000-mark - and a low of 29,877.41 points during the day's trade.

Indian shares eked out marginal gains on Thursday as two-wheeler manufacturers advanced on bets stronger monsoon rains would boost farm incomes, helping spur demand for motorcycles and scooters in rural markets.

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The gauge had gained 389.37 points in previous three sessions to close at a record high of 30,248.17 in yesterday's session.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the equity benchmark indices traded with firm sentiments throughout the session tracking positive global cues and appreciation of the rupee against the USA dollar.

Indian shares rose on Tuesday after three consecutive sessions of falls as recent decliners such as IT stocks recovered, but overall sentiment was cautious ahead.

"But profit booking towards the end of session dragged the stocks off their session highs".

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Apart from the IMD's favourable monsoon prediction, cues from Asian markets also lifted investor sentiments, as did foreign institutional investors who bought equities worth Rs 333 crore. ICICI Bank, Axis Bank, SBI, and HDFC Bank rose by up to 1.59 per cent.

Major gainers in the 30-share index were Hero Motocorp (4.26%), Bajaj Auto (3.12%), Adani Ports and Special Economic Zone (2.28%), Tata Power Company (1.16%), State Bank Of India (1.15%), and ITC (1.00%). Shanghai Composite Index fell 0.03 per cent.

Zee Entertainment Enterprises jumped 5.7% to 545.35 rupees, taking its two-day gains to almost 10%. Hong Kong's Hang Seng index closed up 0.4%, while South Korea's Kospi index ended 1.2% higher. BSE Small-cap index closed higher by 0.53% at 15,544.

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