Sensex, Nifty close at a new lifetime highs; ONGC, BPCL rally

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Sensex, Nifty close at a new lifetime highs; ONGC, BPCL rally
Benchmark indices rallied sharply in trade led by a surge in private sector banks. The Sensex ended at a new lifetime closing of 26,390 points, while the Nifty also closed higher at a new historic high of 7874.25, gaining 82.55 points.

Leading the gainers from the Nifty today were oil and gas companies like ONGC and BPCL. Banking stocks also pushed indices higher with Axis Bank and ICICI Bank leading gainers from the space. Non inbdex stocks like Yes bank and Federal Bank also ended the day higher.

Tech stocks, however, ended the day weak with losses seen in Infosys and TCS. FMCG major, ITC also ended the day lower on selling pressure. Larsen and Toubro and State Bank of India were the other Nifty stocks that saw smart gains.

Shares in Bhushan Steel were once again locked at the lower end of the circuit filter after reports that a Bank consortium would decide on forensic audit of company's loans today.

Lanco Infratech gained almost 5 per cent in trade after reports that Lanco the company may sell more power plans & aiming to raise Rs 20000 crore.

JBM Auto Components ended the day at the upper end of the circuit filter after reports of a bonus issue in ratio of 1:1 and stock split in ratio of 1:2.

Meanwhile, markets in Europe had a spectacular rally as fears over Ukraine receded considerably.

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