Sensex, Nifty scale fresh highs

Mumbai: Extending their record setting run for the second day, benchmarks Sensex and Nifty finished at fresh lifetime highs on Thursday as sentiment remained upbeat on forecast of a normal monsoon this year.

The BSE Sensex edged up by about 3 points to end at 30,250.98, while the broader NSE Nifty gained 15 points to reach 9,422.40. The indices had ended at record highs in Wednesday’s session as well after the weather office said monsoon rainfall this year will exceed its earlier forecast, easing inflation worries. Two-wheeler makers Hero MotoCorp and Bajaj Auto were the top performers in the Sensex pack on expectations that normal monsoon will boost rural demand.

The 30-share BSE Sensex opened higher and soared to yet another intra-day record of 30,366.43, but slipped on profit- booking towards the fag-end. It finally ended at 30,250.98, up 2.81 points or 0.01 per cent, surpassing the previous record closing high of 30,248.17 reached on Wednesday.

The gauge has now risen by 392.18 points in four sessions. On similar lines, the 50-share NSE Nifty gained 15.10 points or 0.16 per cent to 9,422.40 after scaling a fresh intra-day high of 9,450.65.

The index broke its previous record closing of 9,407.30 reached on Wednesday.

“Today’s volatility in the European market ahead of BoE policy meet has turned investors to profit-booking. “But positive implication of a good monsoon forecast and government’s focus on reforms is attracting investors to stay in the market,” said Vinod Nair, Head of Research, Geojit Financial Services.

14 scrips in the 30-share Sensex pack ended higher, while the remaining 16 closed with losses. Major gainer Hero MotoCorp rose 4.26 per cent. It was followed by Bajaj Auto 3.12 per cent, Adani Ports 2.28 per cent, SBI 1.15 per cent, ITC 1.00 per cent, Sun Pharma 0.93 per cent and Wipro 0.89 per cent. However, Bharti Airtel fell 2.21 per cent, Gail 2.14 per cent, ONGC 1.94 per cent, HUL 1.78 per cent, Axis Bank 1.69 per cent, NTPC 1.39 per cent, Coal India 1.20 per cent, Power Grid 1.14 per cent and Tata Motors 1.08 per cent. (PTI)