Sensex scales another peak of 30346.69, Nifty at 9450.65

Sensex scales another peak of 30346.69, Nifty at 9450.65

The Indian benhmark indices settled the day flat, a surprise reversal from its strong rally. Minutes into trading, it was quoting at 30,311.95 points, up by 63.78 points, or 0.21 per cent.

The Sensex closed up 2.81 points at 30250.98, while the Nifty ended higher by 15.10 points at 9422.40. "IDBI Bank lost as much as 5 per cent after the Reserve Bank of India (RBI) invoked its so-called prompt corrective action (PCA) framework on the bank because of its rising bad loans and negative return on assets", Desai told IANS. "Both the benchmark indices are now witnessing firm sentiments and we expect the Indian equities to continue with firm trades in the second half of the session as well". For Q4, the bank reported 12.5 percent rise in net profit at Rs 108 crore on a year-on-year basis, helped by write-back of excess provisions of income tax.

As for BSE sectors, realty jumped 4.53 per cent, followed by IT, technology, power and banking.

The BSE market breadth was bullish - with 898 advances and 382 declines. The stock gained as much as 1.9% in initial trade after posting a better-than-expected 21% growth in fourth-quarter.

Hindalco, up 4.3%, is the top gainer in the Nifty50 index.

At 3.15 pm, the 30-share BSE index Sensex was up 16.53 points or 0.05 per cent at 30,264.70 and the 50-share NSE index Nifty was up 16.1 points or 0.17 per cent at 9,423.40.

The gauge had gained 389.37 points in previous three sessions to close at a record high of 30,248.17 in yesterday's session.

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Among the sectoral indices, consumer durables rose 1.65 percent, auto 0.98 percent, metal 0.69 percent, teck 0.57 percent, healthcare 0.55 percent and IT 0.29 percent.

On similar lines, the NSE Nifty, after hitting an all- time high of 9,414.75, settled higher by 90.45 points, or 0.97 per cent at 9,407.30.

In the day's trade, the barometer 30-scrip sensitive index had touched a high of 30,271.60 points and a low of 29,987.44 points.

Major contributors to the key indices were HeroMoto, Bajaj Auto, Adani Ports, ITC, Sun Pharma, and SBI.

India is likely to receive higher monsoon rainfall than previously forecast as concern over the El Nino weather condition has eased, the chief of the weather office said on Tuesday.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent early on Thursday, while Japan's Nikkei advanced 0.2 per cent.

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