Sensex hits new lifetime high of 26,000 points on Budget hopes

Updated: Monday, July 7, 2014, 10:46 [IST]

The Sensex and Nifty scaled new peaks today with the former scaling a new lifetime peak of 26,000 points as investors bought into stocks a few days ahead of the Union Budget.

The Nifty was last trading 17 points higher at 7769 points, while the Sensex was trading higher by 72 points at 26,074 points. Leading the set of Nifty gainers was IDFC which rallied 3 per cent, while other notable gainers were Tata Power, Bhel and DLF.

But, the clear winners to day were from the technology sector with Infosys, HCL Tech, Wipro and TCS all trading higher by one per cent. Infosys is expected to deliver its results later this week.

Reliance was trading higher after reports that the oil minister hinting that gas prices maybe revised much before Oct.

Dena Bank was trading higher after reports that the bank has sought Rs 1,200 crore capital infusion from government in the current fiscal.

Tata Power on the other hand was trading higher after reports that the company is looking to export fly-ash from its 4,000-MW Mundra plant to West Asia.

Mid cap stocks also saw some buying interest with Petronet LNG, Power Finance and Havells India being among the winners in trade.

Realty stocks were trading higher with the realty index gaining almost one per cent in trade. Meanwhile, markets in Asia were trading lower with the Japanese Nikkei, the Singapore Straits Times and the Chinese Shanghai Composite marginally lower.

GoodReturns.in