Equity markets touch record highs, consumer durables stocks rise
Mumbai, May 16 (IANS) Positive global cues, along with healthy macro-economic data and expectations of a normal monsoon lifted the Indian equity markets to record intra-day highs on Tuesday.
“Healthy macros, prediction of a normal monsoon and the news on EFPO increasing its equity investment limits led to the rise,” Anand James, Chief Market Strategist of Geojit Financial Services, told IANS
According to market observers, healthy buying was witnessed in consumer durables, automobile and banking stocks.
The 30-scrip Sensitive Index (Sensex) of the BSE gained by 140.68 points or 0.46 per cent, while the wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 31.85 points or 0.34 per cent to 9,477.25 points.
The Sensex of the BSE, which opened at 30,391.48 points, was trading at 30,462.80 points (at 1.00 p.m.), higher by 140.68 points or 0.46 per cent from the previous day’s close at 30,322.12 points.
The Sensex touched a high of 30,518.78 points and a low of 30,363.37 points during the intra-day trade so far.
On May 11, the benchmark indices had touched record intra-day highs, as well as new 52-week highs. The Nifty scaled a new intra-day high of 9,450.65 points and the BSE Sensex of 30,366.43 points.
Sector-wise, the S&P BSE consumer durables index augmented by 122.50 points, followed by the automobile index by 112.28 points and the banking index by 72.90 points.