Nifty touches 6,700 record high mark; gains by 8 points

The market ended financial year 2013-14 on a bullish note, scaling a new record 6,700 points, as the benchmark managed to garner small gains of 8.30 points at the National Stock Exchange (NSE) here today.
Metal, auto, infotech and realty counters supported by small cap and mid-cap shares saw hectic buying, while FMCG, infra, pharma and banking counters witnessed profit booking.
Investor sentiment continued to be led by dynamic Foreign Institutional Investors (FIIs) inflow, positive macro indicators, hopes of a stable government after general election and expectations of RBI keeping interest rates unchanged after tomorrow policy review meet.
Meanwhile, FIIs bought shares worth a net Rs 1,362.87 crore last Friday, as per provisional stock exchange data.

The market opened on a firm note on higher Asian cues, hitting a fresh record high of 6,730.05 during morning trades, only to erase almost all intraday gains by early afternoon. However, late trades saw the market ending with small gains.
Aluminium major Hindalco gained by 8.29 per cent, Jindal Steel by 4.19 per cent and Tata Steel by 3.26 per cent, while ONGC fell by 3.25 per cent, IDFC by 2.67 per cent and Dr Reddy's by 2.36 per cent.

The Nifty hovered between a high of 6,730.05 and a low of 6,662.40, before ending at 6,704.20, up 8.30 points, or 0.12 per cent, over its last close.

Other major gainers were ACC, SSLT, Reliance, SunPharma, Maruti, UltraCemCo and TCS, while BHEL, TechM, PowerGrid, GAIL, Lupin, Bank of Baroda and ITC incurred profit booking.
Turnover in the cash segment rose to Rs 14,874.42 crore from Rs 13,592.37 crore last Friday. A total of 9,060.50 lakh shares changed hands in 74,66,787 trades, while market capitalisation stood at Rs 72,77,720 crore.