Sensex, Nifty end at new closing lifetime highs; ICICI Bank rallies

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Sensex, Nifty end at new closing lifetime highs; ICICI Bank rallies
Sensex28,179.08Sensex Quote101.90 [0.36%]
Nifty8,708.95Nifty Quote15.90 [0.18%]
Shares rallied once again in trade today on the back of strong global cues and fresh buying by foreign institutional investors.

The Sensex ended the day higher by 117 points, while the Nifty rallied 31 points in trade. Gains were led by stocks from the banking and energy sector. Stocks like ICICI Bank and ONGC rallied in trade. The latter gained on hopes that diesel prices would be de-regulated.

Other Nifty stocks that gained ground were Hero Motor Corp, Tata Motors and HDFC. IT stocks also saw strong buying with notable gainers from the space being Infosys, TCS and Wipro. PSU banks ended the day lower led by losses in IDBI Bank and Allahabad bank. UCO Bank slumped 8 per cent after the government said it would conduct a forensic audit.

Mid cap stocks were subdued in trade with stocks like Aurobindo Pharma and JSW continuing to languish. However, stocks like India Cements, Havells and Jain Irrigation ended the day higher. IT stocks ended the day higher led by gains in Infosys, TCS and Wipro. Mphasis gained a huge 4 per cent in trade.

Among the Nifty stocks DLF dropped a huge 4 per cent in trade. Other Nifty stocks that lost ground in trade were IDFC and Power Grid. Kotak ended the day lower after the stock was downgraded by a foreign brokerage.

Meanwhile, markets in Europe were trading flat, while most of Asia ended the day mixed.

Story first published: Wednesday, August 27, 2014, 14:35 [IST]
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