Christmas cheer on Dalal street! Sensex at record high, Nifty hits 10,500 for first time

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New Delhi: Sustained foreign fund outflows ahead of Christmas and stellar performances of IT stocks catapulted the stock markets to an all time high on Friday.

Healthy buying in IT and auto stocks continued to drive the upward rally of the domestic equity markets with Nifty crossing the psychological 10,500 level minutes before closing.

The barometer 30-scrip Sensitive Index Sensex rose 184.02 poitns or 0.55 percent to close at 33,940.30 while Nifty edged up 52.70 points to new peak of 10,493.

Sensex touched a high of 33,959.46 points at intra-day trading.

ONGC was the leader of the Sensex ring, with a 2.87 percent rise, followed by TCS and Infosys. Bajaj Auto, Bharti Airtel, Wipro, SBI and L&T rallied by up to 1.24 percent.

IT index was in the big league, up 1.31 percent. Technology surged 1.02 percent, along with capital goods and infrastructure.

Domestic institutional investors (DIIs) were net buyers as they bought shares worth Rs 1,574.30 crore yesterday while foreign portfolio investors (FPIs) offloaded equities amounting to Rs 383.99 crore, provisional data showed.

For the week, the Nifty rose 1.6 percent, while the Sensex clocked a 1.4 percent gain, posting their third straight weekly gain. Infosys Ltd finished 1.6 percent higher and Tata Consultancy Services Ltd rose 1.7 percent.

In yesterday’s closing session, Sensex fell 21.10 points, or 0.06 per cent, to 33,756.28, after moving between 33,860.99 and 33,707.80 during the day in volatile trade.

The gauge had lost 59.36 points in the previous session.

The NSE Nifty too slipped 3.90 points, or 0.04 per cent, to 10,440.30 after touching a high of 10,473.95 and a low of 10,426.90.

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