Sensex breaches 9,900, Nifty too scales new peak

Led by a strong appreciation in large-cap stocks, the markets scaled another peak today. The 30-stock index rose 70.86 points to close at 9,919.89 points for the first time. The Nifty too crossed the landmark 3,000-mark, gaining 26.10 points.

The increase was much more prominent in the Sensex and the BSE 100 index, which moved by 72 and 74 basis points, respectively, than the BSE 500 index, which inched up 0.57 per cent during the day.

Stocks of capital goods companies continued to be strong, backed by robust quarterly numbers. State-owned engineering company BHEL gained 6.7 per cent, taking the stock to a lifetime high.

The company posted 78 per cent growth in bottomline. Another cap goods major Larsen & Toubro ended up 3 per cent higher at Rs 2,172, while ABB ended up 2 per cent higher at Rs 2,529.

Mahindra & Mahindra went up 5 per cent to Rs 561 and Bombay Dyeing was up 1 per cent to Rs 368.35 on good results. Jindal Stainless went down 4 per cent to Rs 91 after the country's biggest stainless steel-maker reported a 68 per cent fall in its net profit for the third quarter.

Among other stocks, Cummins India rose 1.8 per cent to Rs 177.55, Ahmednagar Forgings rose 1.2 per cent to Rs 204.45 and Asian Paints advanced 2.7 per cent to Rs 614.55. Polaris Software, however, plunged 8.9 per cent to Rs 118.55 after it reported a net loss for the December quarter.

Asian markets too were higher on Tuesday, with Japan's Nikkei rising 0.6 per cent to 16,649.82, its sixth consecutive gain. In Seoul, the Kospi Index gained 1.10 per cent to 1,399.83, its fifth winning session.

Back home, all the sectoral indices on the BSE except that of healthcare ended up, thanks to gains made by the large-cap stocks in them. In contrast, both the small cap index and the mid-cap index declined by 61 basis points and 4 basis points, respectively.

Bringing out the contrast, 22 out of the 30 stocks on the Sensex saw upward movement, with the proportion of gainers to losers dropping in more broad-based indices. While 65 per cent of the stocks on the BSE-100 index gained, the figure was 55 on the 200 index and 46 on the 500-stock index.

Among the sectors, the Consumer Goods index was the biggest gainer at 2.26 per cent, followed by the Metal-index with 1.96 per cent and Auto with 1.11 per cent.

The Sensex has put on 682.36 points in the last eight sessions, mainly due to strong institutional buying. According to SEBI data, FIIs pumped in Rs 1,539 crore during Wednesday and Friday and are expected to have played a significant part in the index movements this week as well.

Raging bull

22 out of the 30 stocks on the Sensex saw upward movement

65% of the stocks on the BSE-100 index gained

The figure was 55 on the 200 index and 46 on the 500-stock index

Stocks of capital goods firms continued to be strong, backed by robust quarterly growth

Metal-index gained 1.96%

Among the sectors, the consumer goods index was the biggest gainer at 2.26%

Auto went up by 1.11%

In contrast, both the small cap index and the mid-cap index declined by 61 bps and 4 bps, respectively

Asian markets too were higher with Nikkei rising 0.6% to 16,649.82