Sensex scales new high for fourth straight session

A benchmark index of Indian equities markets Thursday touched a record high of 22,307.74 points, surpassing its previous record high of 22,172.20 points hit Wednesday.

Hopes of economic recovery and stable government post national election have fueled the rally in the Indian stock markets.

Good buying was observed in banking, oil and gas and consumer durables sectors, while selling pressure was seen in the healthcare sector.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 22,116.23 points, closed at 22,214.37 points, up 119.07 points or 0.54 percent from its previous day close at 22,095.30 points. It touched a high of 22,307.74 points and a low of 22,094.29 points intra-day.

The S&P BSE bankex gained 106.15 points, oil and gas index went up by 118.23 points and consumer durables index got augmented by 90.82 points. However, healthcare index dropped by 81.70 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed trade at 40.35 points or 0.61 percent up at 6,641.75 points.

Major Sensex gainers were: State Bank of India, up 4.04 percent at Rs.1,839.55; Bharti Airtel, up 4 percent at Rs.310.70 and Hero MotoCorp, up 3.11 percent at Rs.2,244.45. Major Sensex losers were: Dr. Reddy's Lab, down 1.86 percent at Rs.48.95; SSTL, down 1.26 percent at Rs.180.15 and Tata Motors, down 1.10 percent at Rs.396.85.

Among the Asian markets, Japan's Nikkei closed 1.01 percent up; China's Shanghai Composite Index was up by 0.70 percent, while, Hong Kong's Hang Seng was down by 0.24 percent. In Europe, London's FTSE 100 was trading 0.47 percent down, Germany's DAX Index was down 0.20 percent and the French CAC 40 Index was down by 0.18 percent.