5:16 pm - Monday May 22, 0479

Nifty breaches 7,000-level on capital inflows

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Sensex trades flat in pre-noon session
Sensex trades flat in pre-noon session

The broader NSE Nifty on Monday crossed the 7,000 level for the first time on a strong rally in oil and gas, PSUs, banking and capital goods sector stocks driven by sustained foreign capital inflows ahead of the exit poll results.

The 50-issue NSE Nifty crossed the 7,000 level after rising 141.45 points, or 2.06 per cent, to trade at an all-time high of 7,000.25, surpassing its previous intra-day high of 6,871.35 reached on May 9.

Brokers said sentiment was upbeat on sustained capital inflows and widespread buying by retail investors before the exit poll results after trading hours on Monday.

Further, a higher opening on the European markets and trends on the other Asian bourses influenced the trading sentiments here, they said.

The benchmark BSE Sensex too climbed 534.77 points,or 2.32 per cent, to trade at new record high of 23,529.00.

Major gainers which lifted Nifty to fresh record high included Ultra Cement, Coal India, HDFC Bank, ITC Ltd, GAIL, Grasim Industries, Hero Motorcorp, Reliance Industries, ONGC, SBI, Axis Bank, Maruti Suzuki, Tata Motors, Larsen and Toubro and BHEL.

Among other Asian markets, Hong Kong’s Hang Seng index was up 1.91 per cent while Japan’s Nikkei fell by 0.35 per cent.

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