Nifty extends record rally as rate-sensitive stocks lead

The benchmark Nifty conquered another lifetime closing high of 8,362 after gaining 18 points as interest rate sensitive stocks rallied ahead of IIP data on the National Stock Exchange (NSE) today.
Financial stocks were among the biggest percentage gainers followed by auto, energy and healthcare, though the benchmark index posted only mild gains on the day amid some consolidation.
Firm buying towards the fag-end trade mainly in rate sensitive counters helped the bourses to extend its record rally.
Investors remained bit cautious ahead of two crucial macro data -- CPI inflation and IIP, which will be announced tomorrow and is key in determining interest rate cut in the upcoming RBI policy announcement, a floor trader said.

The 50-share Nifty fluctuated between a high of 8,378.70 and a low of 8,321.85 before concluding at 8,362.65, showing a modest gain of 18.40 points, or 0.22 per cent over its last close.
Elsewhere in Asia and emerging markets, equities ended mixed with Japanese shares closing at a seven-year high on renewed weakness in the yen.

HDFC, ICICI Bank, L&T, Reliance, M&M, Axis Bank, TCS, Ultracem, Tata Steel, HDFC Bank, Zee, IDFC, Bank of Baroda, PNB, Sun Pharma and Gail were among the major Nifty gainers.
Key laggards included ITC, Infosys, Bharti Airtel, BHEL, Cipla, Dr Reddys, Cairn, Coal India and Tata Motors.

Turnover in the cash segment rose to 16,951.59 crore from Rs 16,679.09 crore yesterday. A total of 9,523.97 lakh shares changed hands in 72,73,773 trades, while market capitalisation stood at Rs 95,55,467 crore.