Nifty at new closing peak, Sensex gains

The benchmark BSE Sensex on Monday rose for a third-session and the National Stock Exchange's Nifty increased 54.90 points to a new closing peak, as investors cheered growth-oriented proposals in the Union Budget.

Capital goods, health care, financials and power stocks led the buying list. Foreign investors poured funds on the back of positive economic momentum and the improvement in global macro outlook, said analysts. Investors focused on Budget measures for infrastructure sector, deferral of General Anti-Avoidance Rule and road map for lower corporate taxes, they added.

The Sensex resumed firm at 29,533.42 and fluctuated between a high of 29,576.32 and a low of 29,259.77 before concluding at 29,459.14, rise of 97.64 points or 0.3 per cent, over its previous close. It has gained 700 points in the three successive sessions.

The 50-share Nifty also rose by 54.90, or 0.62 per cent to end at a new closing peak of 8,956.75. 75. This surpasses its previous record closing of 8,952.35 reached on January 29. "Sentiments were upbeat in response to announcement made by the finance minister in his Union Budget speech and it was reflecting in stocks," said Religare Securities, president-retail distribution, Jayant Manglik.

Brokers said some selling occurred in fast-moving consumer goods shares led by ITC. Most automobile counters fell on weak monthly sales data. Information technology and metal scrips saw profit-booking.