 "Market hovers around record highs; Axis Bank up 4.5%")
Benchmark indices gained nearly a percent each in afternoon deals with both the Sensex and the Nifty at all time highs backed by the strength in counters such as banks, energy and auto.
This is the fifth consecutive session where the Nifty has edged higher thanks to the strong foreign institutional inflows. The improvement in sentiment is credited to Prime Minster Narendra Modi’s power packed speech on the Independence Day where he vowed to fire up bureaucracy. Also, the wholesale price inflation easing to a five month low in July helped.
At 1412 hrs, the Sensex was up 247 points at 26,350 and the Nifty advanced 72 points to trade at 7,864. Earlier in the day, the Sensex had hit a high of 26,371 and the Nifty touched a peak at 7,870.
Sectors & Stocks
Bankex, Capital Goods and Oil & Gas indices up over 2% each were the top sectoral gainers.
Realty, Power, Metal, Consumer Durables and Auto indices added over 1% each.
Meanwhile, IT and FMCG lacked the market wide exuberance and the respective indices were down 0.5% each.
IT majors, Infosys, TCS and Wipro were down 0.2-1%.
ITC, HDFC, Mahindra & Mahindra were the only other names in red, down between 0.3-1.5% among the Sensex stocks.
Cipla, Axis Bank, ONGC, Tata Motors, Hindalco, BHEL, ICICI Bank, L&T and SBI up 2.5-4% were the ones leading gains.
The market breadth was positive on BSE. 1,842 stocks advanced while 966 stocks declined.
Global Markets
Asian stocks stalled and the dollar sagged against the safe-haven yen on Monday, as another bout of tensions in the Ukrainian conflict sapped investor confidence.
MSCI's broadest index of Asia-Pacific shares outside Japan was effectively flat, treading water through most of the day. The index had gained 2.5% last week, its largest weekly rise in nearly five months. The only substantial gainer was Shanghai Composite up 0.6%.
In the European market, CAC and DAX were up 1.5% each and FTSE added 0.6%.
This is the fifth consecutive session where the Nifty has edged higher thanks to the strong foreign institutional inflows. The improvement in sentiment is credited to Prime Minster Narendra Modi’s power packed speech on the Independence Day where he vowed to fire up bureaucracy. Also, the wholesale price inflation easing to a five month low in July helped.
At 1412 hrs, the Sensex was up 247 points at 26,350 and the Nifty advanced 72 points to trade at 7,864. Earlier in the day, the Sensex had hit a high of 26,371 and the Nifty touched a peak at 7,870.
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Broader markets were no different. The mid and smallcap indices powered in late trades with the respective trades up nearly 2% each. The rally was visible across the sectors barring defensive pockets like IT and FMCG.
Sectors & Stocks
Bankex, Capital Goods and Oil & Gas indices up over 2% each were the top sectoral gainers.
Realty, Power, Metal, Consumer Durables and Auto indices added over 1% each.
Meanwhile, IT and FMCG lacked the market wide exuberance and the respective indices were down 0.5% each.
IT majors, Infosys, TCS and Wipro were down 0.2-1%.
ITC, HDFC, Mahindra & Mahindra were the only other names in red, down between 0.3-1.5% among the Sensex stocks.
Cipla, Axis Bank, ONGC, Tata Motors, Hindalco, BHEL, ICICI Bank, L&T and SBI up 2.5-4% were the ones leading gains.
The market breadth was positive on BSE. 1,842 stocks advanced while 966 stocks declined.
Global Markets
Asian stocks stalled and the dollar sagged against the safe-haven yen on Monday, as another bout of tensions in the Ukrainian conflict sapped investor confidence.
MSCI's broadest index of Asia-Pacific shares outside Japan was effectively flat, treading water through most of the day. The index had gained 2.5% last week, its largest weekly rise in nearly five months. The only substantial gainer was Shanghai Composite up 0.6%.
In the European market, CAC and DAX were up 1.5% each and FTSE added 0.6%.