Bourses hit new peaks as investors cheer Centre’s economic agenda

Even the broader Nifty at the National Stock Exchange rose by 71 points or 0.9 per cent to close at 7,654.6.

By: ENS Economic Bureau | New Delhi | Updated: June 10, 2014 1:27 am

With support from domestic and foreign investors, the benchmark Sensex at the Bombay Stock Exchange continued with the ongoing momentum and extended its gains for the third straight trading session as it rose by 183 points or 0.7 per cent on Monday to close at a new high of 25,580.
The Sensex has gained 774 points or 3.1 per cent in the last three sessions.

Even the broader Nifty at the National Stock Exchange rose by 71 points or 0.9 per cent to close at 7,654.6.

Foreign institutional investors (FIIs) invested a net of Rs 536 crore on Monday taking the net investment  in the month of June at  Rs 3,621 crore. The net FII investment for the calendar 2014 has touched Rs 49,425 crore.

The gains in the mid-cap and the small-cap indices were significantly higher that those registered in the premier index. While the mid-cap index rose by 1.5 per cent on the BSE, the small-cap index jumped by 2.13 per cent taking its gains beginning May 1, 2014 at over 36 per cent.

The market capitalisation of all BSE listed companies crossed the milestone of Rs 90 lakh crore on Monday and it stood at Rs 90,37,113 crore. Coal India emerged as the biggest gainer as the share jumped by 5.6 per cent on Monday. The enthusiasm around the stock is reflective of the fact that several projects belonging to the company have been in the process of receiving environmental clearances.
Other major Sensex gainers were Bajaj Auto (5 per cent) and Larsen and Toubro (3.8 per cent).

Among the sectoral indices, while the real estate index emerged as the biggest gainer with a rise of 6 per cent, the capital goods and power indices rose by 2.5 and 2.3 per cent, respectively.

Rupee logs first drop in four days

MUMBAI: Bucking the trend in stocks, the Indian rupee on Monday washed out initial gains and logged its first drop in four sessions to end at 59.20 against the dollar on late demand for the American currency from importers. At the Interbank Foreign Exchange market, the rupee commenced higher at 59.10.

However, the rupee met with strong resistance and dropped to a low of 59.23 on late dollar demand from importers before closing at 59.20, showing a fall of 3 paise or 0.05 per cent.     PTI

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