Sensex, Nifty close at a new record as IT stocks surge

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Sensex, Nifty close at a new record as IT stocks surge
Indices
Sensex26,694.28Sensex Quote457.41 [1.74%]
Nifty8,246.85Nifty Quote144.80 [1.79%]
The Sensex and the Nifty ended the day higher led by a surge in technology stocks. The Sensex closed at a new record of 26,100 points, rising by 138 points in trade, while the Nifty ended the day higher by 36 points.

Leading the set of gainers from the Nifty were technology stocks like TCS, Infosys, Tech Mahindra and Wipro. The top gainer from the Nifty was IDFC which rallied a huge 7 per cent after one of the top brokerages upgraded the stock to a buy. Other Nifty stocks that gained ground in trade were DLF and Dr Reddy's.

A select few Nifty stocks lost ground including the likes of ONGC and Reliance. However, the one sector that saw some selling pressure were stocks from the banking space including the likes of ICICI Bank, HDFC Bank, Yes Bank and Federal Bank. However, shares in South India Bank bucked the trend and ended the day higher after an investment fund bought 1.9 crore shares in the company.

Shares in Ashok Leyland were also in demand after the company managed to successfully raise money through a QIP.

Select mid cap stocks also saw buying interest the prime among these being Havells India, Jain Irrigation and Petronet LNG. However, a few stocks like Union Bank, Syndicate Bank and JSW Energy dropped in trade.

Meanwhile, markets across Asia ended the day higher, while most of the European markets were trading flat.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Monday, July 7, 2014, 14:41 [IST]
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