Sensex, Nifty close at another fresh lifetime high

The Nifty and the Sensex continued their election rally with both the benchmark indices closing at fresh lifetime highs.

The Sensex ended the day with gains of 118 points, while the Nifty rallied 25 points in trade to close at another lifetime high of 6840 points. Among the gainers in trade were stocks from the banking sector with Yes Bank leading gainers after the company reported better than expected results.

Other notable winners from the Nifty were Larsen and Toubro, Bank of Baroda, Punjab National Bank, and Bharat Heavy Electricals Ltd.

IT stocks continued to exhibit weakness in a market trending higher with notable losers being Wipro, Polaris and Tata Consultancy Services.

Select mid cap stocks also ended the day lower with Biocon and India Cements dropping close to four per cent each. Other notable losers were MRF and Reliance Infra.

Real estate giant DLF was down 2 per cent on continued worries over the DLF Vadra land deals. Mangalore Chemicals rallied more than 6 per cent after Deepak Fertilisers and others made an open offer for acquisition of further 26% stake in the company.

Shares in Rallis India jumped 8 per cent after its Q4 net profits jumped sharply. Seamec on the other hand lost ground after Technip said it would sell anything between 51-75 percent of its stake in Seamec.
Meanwhile, European markets were trading marginally lower today with the German DAX and the French CAC lower.

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