Close X
Tuesday, November 26, 2024
ADVT 
India

Modi Wave: Sensex Breaches 24,000-Mark

Darpan News Desk IANS, 13 May, 2014 10:55 AM
    A benchmark index of Indian equities markets Tuesday crossed the 24,000-point mark for the first time in its history, recording the third straight high.
     
    At i.94 points, it was the highest mark so far, surpassing the previous record of 23,573 points hit Monday as the exit polls showed the Bharatiya Janata Party and its allies closing in on a majority in the just-ended country's general elections.
     
    The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which crossed the 24,000 points in the morning session, opened Tuesday's trade at 23,729.78 points, and ended trade at 23,871.23 points, a record closing high, up 320.23 points or 1.36 percent from the previous day's close at 23,551 points.
     
    The Sensex touched a high of 24,068.94 points and a low of 23,729.25 points intra-day.
     
    “The exit polls, which predicted a victory for the BJP-led NDA, gave further fillip to the markets as they closed at a new record," said Dipen Shah, head - private client group research, Kotak Securities.
     
    "Expectations are now of a stable government at the centre and that has raised hopes of better growth for the economy. The markets have risen based largely on these expectations," he added.
     
    The rally was led by the capital goods, oil and gas, information technology (IT), consumer durables and technology, entertainment and media (TECK) sectors. 
     
     
    The S&P BSE capital goods index gained 324.43 points, oil and gas index surged by 295.35 points, IT index went up by 224.23 points, consumer durables index rose by 206.24 points, and TECK index moved up by 108.10 points.
     
    However, healthcare index fell 47.59 points.
     
    The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed at a record high. It surged 94.50 points or 1.35 percent and closed at 7,108.75 points after climbing to an all time high of 7,172.35 points.
     
    The prominent gainers were: Bharat Heavy Electricals, up 10.25 percent at Rs.218.80; Hero MotoCorp, up 5.39 percent at Rs.2,428.85; ONGC, up 3.81 percent at Rs.372.05; Tata Power, up 3.62 percent at Rs.84.55; and Wipro, up 3.36 percent at Rs.528.80.
     
    The losers included Dr Reddy's Lab, down 3.99 percent at Rs.2,610.70; Tata Motors, down 0.94 percent at Rs.440.80; Hindalco Inds, down 0.84 percent at Rs.142.30; HDFC Bank, 0.63 percent at Rs.787; and Sun Pharma, 0.47 percent at Rs.610.20.
     
    Among the Asian markets, Japan's Nikkei closed 1.95 percent up while Hong Kong's Hang Seng was higher by 0.41 percent. However, China's Shanghai Composite Index lost 0.10 percent.
     
    In Europe, London's FTSE 100 was trading 0.15 percent up and the French CAC 40 Index rose 0.61 percent, while Germany's DAX Index gained by 0.19 percent. 

    MORE India ARTICLES

    First Look: Modi votes, clicks selfie, blasts UPA, sparks a storm

    First Look: Modi votes, clicks selfie, blasts UPA, sparks a storm
    BJP's prime ministerial candidate Narendra Modi Wednesday cast his vote, clicked a selfie and attacked the Congress, saying nothing can now save the "mother-son" government.

    First Look: Modi votes, clicks selfie, blasts UPA, sparks a storm

    Elections 2014 Phase 7: Brisk Voting in Punjab

    Elections 2014 Phase 7: Brisk Voting in Punjab
    Balloting began on a brisk note in Punjab Wednesday for the 13 Lok Sabha constituencies in a single phase election, the Election Commission said.

    Elections 2014 Phase 7: Brisk Voting in Punjab

    Election Special: Congress has a lot at stake in Punjab

    Election Special: Congress has a lot at stake in Punjab
    When Punjab votes Wednesday, the Congress will have its fingers tightly crossed. The party has gambled by fielding its top leaders like Amarinder Singh to defeat the ruling Akali Dal-BJP combine.

    Election Special: Congress has a lot at stake in Punjab

    Apex chamber condemns EU ban on Indian mango, vegetables

    Apex chamber condemns EU ban on Indian mango, vegetables
    The Europe-India Chamber of Commerce Tuesday condemned a recent EU decision to ban Indian Alphonso mangoes and four vegetables from May 1 as “ill-conceived and misguided”.

    Apex chamber condemns EU ban on Indian mango, vegetables

    Trace Modi's wife: Letter asks CJI, Delhi CJ

    Trace Modi's wife: Letter asks CJI, Delhi CJ
    An advocate from Meerut has written a letter to the Chief Justice of India and Delhi High Court Chief Justice seeking their intervention for the "safety and security" of BJP prime ministerial candidate Narendra Modi's wife Jashodaben, alleging she has been "wrongfully confined at some unknown place".  

    Trace Modi's wife: Letter asks CJI, Delhi CJ

    Delhi teacher arrested for molesting five students

    Delhi teacher arrested for molesting five students
    A 35-year-old school teacher was Tuesday arrested here for molesting five girl students in the school premises, police said.

    Delhi teacher arrested for molesting five students