Indian Market: BSE, Nifty touch all-time high

The BSE Sensex marched to 78053.52 with gains of over 712 points mainly due to huge gains in the heavyweight banking stock especially in the private sector.

The National Stock Exchange (NSE) index, Nifty, on the other hand, spiked by 183.45 points to touch 23,721.30.

It hit all-time high of 23754.15 during the intra-day.

While the BSE Sensex rallied 823 points on Tuesday, bringing smiles and hopes to investors.

Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) sold equities to the tune of Rs 654 crore and Rs 820 crore in the last trading session, as per data as quoted by the media.

The stocks which boosted the market were Bankex by 1.87 per cent, Financial services by 1.45 and IT by 0.53 per cent.

Even as both Sensex and Nifty touched all-time high, the mid-cap and small-cap registered marginal decline from their previous levels. The Mid cap dropped 0.26 per cent and the Small cap by 0.03 per cent.

In 30-scrips index, 16 advanced while 14 declined.

The gainers of the day included Axis Bank by 3.66 per cent to Rs 1273, ICICI Bank by 2.91 per cent to Rs 1204, HDFC Bank by 2.16 per cent to Rs 1708.25 and Tech Mahindra by 1.80 per cent to Rs 1426.

The losers were Powergrid by 1.88 per cent to Rs 326.80, Asian Paints by 1.16 per cent to Rs 2862.35 and Tata Steel by 1.10 per cent to Rs 175.95.

The Asian Market was strong as Straits Times was up by 0.36 per cent, Hang Seng by 0.25 per cent and Taiwan Weighted by 0.27 per cent.