Sensex, Nifty touch another record high; Nifty hits 8000 points on GDP numbers

Published: Monday, September 1, 2014, 9:27 [IST]

The Sensex and the Nifty hit another record high in trade as GDP numbers that were released last week bought cheer to the markets. The Sensex was trading higher by 171 points, while the Nifty surged past the 8000 points at 8004 points - 51 points higher in trade.

Leading the set of gainers from the Nifty were banking stocks including the likes of State Bank of India, Kotak Mahindra Bank, Punjab National Bank and Canara Bank.

Coal India was up ahead of the Supreme Court's decision on coal block allocation due today. Jindal Steel and Hindalco which are likely to get impacted by the SC's verdict were also trading higher. Jindal Steel was up 1.66 per cent, whileHindalco was up 0.6 per cent in trade.

Select Nifty stocks saw some decline including the likes of IDFC, Bhel and Hindustan Unilever. Mid cap stocks also had a good session in trade with notable winners being Apollo Tyres, Crompton Greaves and Jain Irrigation.

PSU banking stocks were having a good session with Oriental Bank of Commerce and Union Bank of Commerce leading gainers in trade.

Shares in Adani Enterprises was up after reports that the company has agreed to pay A$155 million ($145 million) to Linc Energy to buy out the Australian firm's rights to future royalties from Adani's Carmichael coal project.

Meanwhile, most of Asia was trading steady with the Japanese Nikkei and the Shanghai Composite showing modest gains.

GoodReturns.in

Story first published: Monday, September 1, 2014, 9:27 [IST]