3 June 2014

Today in Intraday Market Nifty ends above 7400 for 1st time

In Equity Intraday benchmarks ended at record closing highs on Tuesday after the RBI credit policy review indicated huge amount of liquidity coming into the system. Improving Chinese factor data too supported the market. The 50-share NSE Nifty closed above 7400-mark for the first time ever, up 53.35 points to 7415.85 while the 30-share BSE Sensex jumped 173.74 points to 24858.59.
In the banking space, private sector lender ICICI Bank was down 0.25 percent and Axis Bank declined 0.15 percent while HDFC Bank gained 0.56 percent. Metals were the biggest gainers in today’s trade with the BSE Metal Index rising 5 percent. A private survey showed that China's factory sector turned in its best performance in four months in May as export orders improved although activity still contracted.
Shares of ONGC, NTPC, Hero Motocorp, BHEL and Hindalco Industries climbed 3-4 percent. Index heavyweights Reliance Industries and HDFC were up 1-1.7 percent. However, ITC, Hindustan Unilever, Dr Reddy’s Labs, Gail and Wipro were down 1-3 percent.

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