Sensex, Nifty close at another record high; M&M surges

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Sensex, Nifty close at another record high; M&M surges
The Sensex and the Nifty ended the day at yet another record high as stocks from the baking and auto space rallied in trade today.

The Sensex ended the day higher by 29 points, while the Nifty rallied 23 points in trade. Stocks like Mahindra and Mahindra, Sesa Sterlite, Tata Motors, Dr Reddy's Labs, Tata Motors and Bhel were the top gainers in trade.

Shares in Bhushan Steel were locked at the lower end of the circuit filter after reports that banks were worried of their exposure to the company.

The stocks from the Nifty that lost ground in trade today were HDFC, TCS, Hindustan Unilever, Sun Pharma and Hindalco.

Mid cap stocks also ended the day higher led by gains in stocks like Ashok Leyland, Godrej Industries, Hindustan Zinc, Divis Labs, Mcleod and Crompton Greaves.

The stars in trade, however, were gold finance companies like Manappuram which rallied a huge 20 per cent was locked at the upper end of the circuit filter. Muthoot Finance also rallied and ended the day higher by 11 per cent.

Select private sector banks like IndusInd Bank and yes bank had a good session in trade and notched smart gains.

Meanwhile, markets across Asia ended higher and Europe was trading with gains as tensions in Ukraine began to ease.

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