Active Stocks
Tue Mar 19 2024 15:58:41
  1. Tata Consultancy Services share price
  2. 3,977.55 -4.03%
  1. Tata Steel share price
  2. 148.65 -0.64%
  1. Bharti Airtel share price
  2. 1,227.85 0.23%
  1. Power Grid Corporation Of India share price
  2. 258.95 -2.28%
  1. ITC share price
  2. 409.50 -1.89%
Business News/ Market / Stock-market-news/  Sensex breaches 27,000 mark as record spree continues
BackBack

Sensex breaches 27,000 mark as record spree continues

Nifty added 0.69%, or 55.35 points, to end at 8,083.05

In intra-day trade, the 30-share Sensex hit a record high of 27,082.85 points, while the broader 50-share CNX Nifty hit a record of 8,101.95 points.. Photo: Hemant Mishra/Mint Premium
In intra-day trade, the 30-share Sensex hit a record high of 27,082.85 points, while the broader 50-share CNX Nifty hit a record of 8,101.95 points.. Photo: Hemant Mishra/Mint

Mumbai: The Sensex, India’s benchmark equities index, breached 27,000 points, while the Nifty hit 8,100 for the first time, led by gains in healthcare and reality stocks.

In intra-day trade, the 30-share Sensex hit a record high of 27,082.85 points, while the broader 50-share CNX Nifty hit a record of 8,101.95 points.

The Sensex has been rising for eight consecutive trading sessions and has hit an all-time high for a fourth consecutive day. The BSE index has attained the 27,000 mark in just 39 trading sessions after it had hit 26,000 points.

The Sensex closed 0.57%, or 151.84 points, higher at 27,019.39, while the Nifty added 0.69%, or 55.35 points, to end at 8,083.05.

The S&P BSE Consumer Durables index was the top sectoral gainer, up 2.76%.

Japan’s Prime Minister Shinzo Abe pledged to give India ¥3.5 trillion (over $33.58 billion) in public and private investment besides overseas development assistance over the next five years to fund next-generation infrastructure, connectivity, transport systems, smart cities, and manufacturing, clean energy and skill development.

The gainers included Cipla Ltd, which rose 5.23% to 557.40 after it reported that it has launched an anti-asthma inhaler in Germany and Sweden that is a generic version of GlaxoSmithKline Plc’s Advair, a move that will further dent sales of the British firm’s top-selling product. Bharti Airtel Ltd gained 4.24% to 391.90 after the company said that its arm signed an agreement to acquire over 2.7 million subscribers of yuMobile.

Among the losers, Sesa Sterlite Ltd fell 1.87% to 277.60 and Tata Power Co. Ltd fell 1.05% to 89.10.

Since the beginning of this year, the Sensex has gained 27.43%, while foreign institutional investors have bought $12.91 billion from local equity markets.

India’s current account deficit, or the sum of the balance of trade and invisibles such as remittances and software earnings, fell to $7.8 billion, or 1.7% of gross domestic product (GDP), in the June quarter from 4.8% of GDP, or $21.8 billion, in the year-ago period. However, it was higher than 0.2% of GDP or $1.2 billion in fiscal fourth quarter (January-March) of 2013-14.

On Monday, the government requested the Supreme Court that 46 coal mines could be conditionally exempted from de-allocation. The final decision in the allocations case is likely on 9 September.

India’s core sector, or infrastructure output growth slowed to a three-month low of 2.7% in July, dragged down by a contraction in production of natural gas, steel, fertilisers and refinery products after rising 7.3% in June.

A monthly meeting of the European Central Bank (ECB) is scheduled for 4 September, and there are expectations that the ECB will announce quantitative easing in the coming months to strengthen growth in the euro zone, which may boost market sentiment.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 02 Sep 2014, 10:32 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App