Sensex, Nifty end at a new record high; IT stocks rally

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, August 22, 2014, 15:29 [IST]

The Sensex and the Nifty rallied in trade led by gains in IT and select banking stocks. The Sensex ended the day higher by 59 points, while the Nifty gained 22 points in trade. Leading the set of gainers in trade were stocks like Tata Consultancy Services, Infosys and HCL Tech.

Select banking stocks from the PSU space like State Bank of India, Oriental Bank of Commerce, Bank of India and Andhra Bank also ended the day higher.

Shares in Bhushan Steel continued to languish at the lower end of the circuit filter. Nifty stocks that lost ground in trade were Bharti Airtel, Coal India, BPCL, HDFC and Power Grid Corporation.

Rel estate stocks continued to fall for a second straight day with notable losers being Sobha Developers, Anant Raj Industries, DLF and Indiabulls.

Gammon Infra was locked at the upper end of the circuit filter after reports that Gammon India will sell 52.8 crore equity shares in Gammon Infra to Gammon Power.

Mid cap stocks also saw some traction in trade with winners being Bata India, Bharat Forge, Jubilant Food and Reliance Capital.

Infrastructure stocks also fell with the likes of GMR Infra, Jaiprakash Associates and Jaiprakash Associates dropping in trade.

Meanwhile, markets in Europe were trading with losses led by the German DAX and the French CAC.

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