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Home Business News Sensex rises 316 points to hit record closing of 43,594; Nifty settles...

Sensex rises 316 points to hit record closing of 43,594; Nifty settles near 12,750 – Times of India


NEW DELHI: Equity indices continued their winning streak for the eighth straight session on Wednesday with both BSE and NSE scaling fresh highs led by gains in metal and pharma stocks.
After scaling a fresh intra-day peak of 43,708, the 30-share BSE index finished 316 points or 0.73 per cent higher at record closing of 43,594; while the broader NSE Nifty settled 118 points or 0.93 per cent higher at fresh high of 12,749.
Top gainers in the sensex pack included Tata Steel, Axis Bank, Bajaj Finserv, ITC, Kotak Bank and Sun Pharma with their shares rising as much as 7.39 per cent.
While IndusInd Bank, Reliance, Titan, Asian Paints, Hindustan Unilever and HDFC Bank were the only losers falling up to 5.62 per cent.
On the NSE platform, sub-indices Nifty Metal, Pharma, Auto and Financial Services gained as much as 3.59 per cent.
Carmaker Mahindra and Mahindra jumped nearly 3% after it reported a higher quarterly revenue on Tuesday and said it expected strong demand for vehicles until the end of the year.
“The outlook for the (auto) sector is improving continuously and is supported by the festival season and good rural demand,” said Vinod Nair, head of research at Geojit Financial Services.
A report by SIAM showed India’s passenger vehicle sales grew more than 14% in October from a year ago.
On the currency front, rupee slumped 18 paise to close at 74.36 against the US dollar.
Meanwhile, foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 5,627.32 crore on Tuesday, according to provisional exchange data.



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