Nifty sets another record; tops 6,600 mark

The benchmark Nifty achieved another milestone as it scaled a new peak of 6,600 points on select buying in a range-bound trading at the National Stock Exchange (NSE) today.
Buying in key energy, banking, metal, auto and infra counters helped the 50-share index to gain 11.65 points.
Sentiment remained upbeat over positive macro scenario and likelihood of political stability after elections amid sustained FII inflows.
Firm global cues and short-covering ahead of expiry of March series derivative contracts tomorrow also improved market mood. Rate-sensitive banking counters rallied on hopes RBI will keep key rates unchanged at its April 1 policy meet.

The market surged to a new life-time high of 6,627.45 during intra-day trade, but slipped due to profit-booking in pharma, FMCG and IT shares.
Mining giant SSLT rallied 4.23 per cent, aluminium major Hindalco rose 3.85 per cent and Jindal Steel gained 3.19 per cent. Yes Bank jumped 5.85 per cent and L&T gained 2.19 per cent.

However, Dr Reddy's Lab slid 3.30 per cent, Lupin lost 2.80 per cent and TCS was down 2.48 per cent.
Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 1223.28 crore yesterday, as per provisional data from the stock exchanges.
The Nifty hovered between a high of 6,627.45 and a low of 6,580.60, before closing at 6,601.40, up 11.65 points, or 0.18 per cent, over its last close.

Other major gainers were IDFC, Bank of Baroda, Tata Motors, Tata Steel, Coal India and GAIL. JP Associate, Sun Pharma, DLF, PowerGrid, M&M, CIPLA and BHEL incurred losses.
Turnover in the cash segment moved up to Rs 13,496.77 crore from Rs 13,394.44 crore yesterday. A total of 7,834.07 lakh shares changed hands in 65,48,534 trades, while market capitalisation stood at Rs 70,90,428 crore.