Stocks bid adieu to a successful 2014 on a fabulous note - undoubtedly one of the most action packed and eventful year for the Indian financials markets with the benchmark Nifty gaining over 34 points today.
Positive sentiments fuelled by the new government's robust reform initiatives on the back of strong capital inflows and better-than-expected earnings amid hopes of improvement in economic conditions in the coming year predominantly fuelled a stunning bull market rally in 2014, posting its best gain in five years.
The bellwether Nifty indices were up by a stunning 31 per cent year-to-date after conquering a historic high of 8,626.95, outperforming against all of its major global peers.
Despite a flat opening, market picked up momentum in noon trade with strong buying in beaten down key heavyweights.
The broader 50-share index hovered between a high of 8,291 and a low of 8,243.75 before concluding the day at 8,282.70, showing a smart rise of 34.45 points, or 0.42 per cent.
Energy, Infra, Healthcare, Metal, Technology and Banking counters mainly spearheaded today's surge.
While, select auto heavyweights witnessed selling reacting to the government's decision not to extend the reduced excise duty rates provided to the sector.
The smart frontline gainers included Reliance, ICICI Bank, TCS, HDFC, Dr Reddys', SBI, Kotak Bank, Infosys, Axis Bank, BHEL, Sun Pharma, UltraTech Cement, IndusInd Bank, NTPC, Cairn, Tata Motors, Bharti Airtel, Sesa Sterlite, Hero Moto, ITC, Hindalco, Zee, Wipro and Tata Steel.
On the downside were M&M, HDFC Bank, Bajaj Auto, Maruti, L&T, Tech Mahindra, IDFC and Ambuja Cement.
Turnover in the cash segment jumped to Rs 12,111.66 crore from Rs 10,868.34 crore yesterday. A total of 6,776.88 lakh shares changed hands in 54,54,571 trades. The market capitalisation stood at Rs 96,00,459 crore.
