Sensex, Nifty scale fresh highs; auto, metal stocks zoom

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 29,915.12 points, closed at 29,926.15 points - up 67.35 points or 0.23 per cent from the previous day's close at 29,858.80 points.

The 30-share index was trading higher by 78.22 points, or 0.26 per cent, at 29,937.02 with all the sectoral indices led by consumer durables, auto, capital goods and healthcare, trading in the positive terrain by gaining up to 0.66 per cent.

In terms of the broader markets, the S&P BSE mid-cap index was up a tad by 0.05 per cent whereas the small-cap index inched down by 0.05 per cent.

Mumbai/Bhubaneswar: Benchmark equity indices Sensex and Nifty on Wednesday, after consolidation, surged to record high on the back of board based buying interest. "European indices like FTSE 100 and DAX now traded in the positive trend and CAC 40 traded lower".

Financial stocks, which have the largest weightage on the benchmark indexes, ended mixed.

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Apart from the IMD's favourable monsoon prediction, cues from Asian markets also lifted investor sentiments, as did foreign institutional investors who bought equities worth Rs 333 crore.

"Banking sector stocks faced resistance at higher levels in the second part of the session and traded with mixed sentiments, while cement sector stocks complimented the firmness of the markets. IDBI Bank lost as much as 5 per cent after the Reserve Bank of India (RBI) invoked its so-called prompt corrective action (PCA) framework on the bank because of its rising bad loans and negative return on assets", Desai told IANS.

The Nifty PSU bank index rose as much as 0.91 per cent.

Telecom operator Bharti Airtel was among the top losers on the Sensex on Thursday, ending down 1.8% at 366.10 rupees.

Asian shares, however, edged up for a third consecutive day. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan rose up to 1.16 percent. ONGC, Cipla, Axis Bank, ITC, Adani Ports, State Bank of India, ICICI Bank, HDFC Bank, Dr Reddy's Laboratories and Sun Pharmaceutical Industries are up 0.5% - 1%.

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