Nifty hits record high of 7,809.20 points as FIIs buy

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, July 23, 2014, 11:21 [IST]

The National Stock Exchange index benchmark Nifty hit a new record-high of 7,809.20 points, as stocks from the oil and gas and tech sector rallied. The Sensex was trading higher by 64 points at 11.15 am, while the Nifty gained 6 points in trade.

Strong global cues from the US, particularly after the S&P 500 hit another record high pushed Indian benchmark indices higher.

Shares from the technology pack were trading higher with Infosys rallying more than 2 per cent on reports of bagging an order and TCS hitting a new 52-week high in trade.

Axis Bank was trading lower by almost one per cent ahead of its results to be declared later today. Bank of Baroda was up after the The Reserve Bank of India lifted the ban imposed on foreign investors to buy shares in the bank.

Select mid cap stocks saw some buying interest with IFCI, NHPC and Syndicate Bank among the gainers.

Shares in Infosys rallied after the company said that it had secured a multi-year deal from automaker maker Daimler AG for the management of infrastructure services and data centres.

Sesa Sterlite was in the limelight after reports that both the NSE and the BSE had cleared the proposed merger of the firms.

Cairn India and Yes Bank were trading marginally higher ahead of their results to be declared later today. Real estate stocks were having a good session with Unitech, Sobha and Prestige among the early gainers.

Meanwhile, almost all of the Asian markets were trading higher after record closing in the US.

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