Mumbai: The stock markets rallied on 29 June with the BSE benchmark Sensex gaining 146 point to close at its second highest level and the NSE Nifty touching an all-time high on a surge in stocks of cement, banking and capital goods.
The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, opened strong at 14,589.52 and rallied further to a high of 14,663.25, just 61 points away from all-time intra-day peak of 14,723.88 logged on 9 February.
It later concluded at 14,650.51, couple of points away from previous closing peak of 14,652.09 registered on 8 February, a sharp rise of 145.94 points or 1.01% over the previous close of 14,504.57.
The broad-based S&P CNX Nifty of the National Stock Exchange (NSE) moved in a range of 4,321.35 and 4,280.95 before ending at an all-time high of 4,318.30, a net gain of 36.30 points or 0.85% from the previous close.
The other seven indices — BSE-100, BSE-200, BSE-500, BSE-Midcap, BSE-CD, BSE-CG and Bankex — also scaled their historical highs.
Banking counters attracted fresh buying support following sustained fall in inflation figures, expecting no further tightening measures from the central bank. Inflation eased to a 14-month low of 4.03 for the week ended 16 June due to a decline in prices of essential food articles and some manufactured products.
Shares of capital goods segment continued their north- bound journey on sustained buying support.
Cement stocks also remained in limelight on persistent buying after finance minister P Chidambaram stated that there will be no freeze on cement prices.