Markets

Global cues, rupee lift equities; Nifty above 9300 points

"Strong global cues and better than expected quarterly results by HDFC Bank, ACC and UltraTech lifted market".

Likewise, the 50-stock NSE barometer Nifty finished 9.70 points, or 0.10 per cent, down at 9,342.15 after hitting yet another new high of 9,367.15 (intra-day).

Similarly, the BSE Sensex registered a new record high of 30,184.22 points (intra-day). NSE Nifty also opened in the green and was trading at a new level of 9,358.3, up 51.75 or 0.56% from previous close.

The BSE 30-share Sensex was quoting at 29,926.96 at 1430 hrs, up 271.12 points, or 0.91 per cent.

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The BSE Sensex continued its bullish trend for the second consecutive day on Wednesday as the index closed above 30,000 for the first time amid blue chips stocks trading fresh highs for the second consecutive day, reflecting the optimism in the USA markets where Nasdaq Composite crossed 6,000 for the first time on Tuesday. Both the benchmark indices, Nifty and Sensex were trading in red zone throughout the day.

Rahul Shah, a vice president at Motilal Oswal Securities, said healthy corporate earnings and a strengthening in the Indian economy are driving optimism and helping attract foreign as well as domestic investors.

Asian markets were weak with Japan's Nikkei and Hong Kong's Hang Seng closing down 0.3% each, Korea's Kospi was down 0.2% and Singapore's Strait Times was up 0.1%.

Bharti Infratel, ITC, HDFC, HDFC Bank, Reliance Industries, TCS, Cipla, Hindustan Unilever, Infosys and Indian Oil were among the losers.

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Intraday, it hit a high of 30,137.53.

The Indian rupee closed at 64.44 to the U.S. dollar on Monday, a gain of 0.27 percent from the Friday closing of 64.61.

In terms of the broader markets, the S&P BSE mid-cap index closed up by 0.07 per cent, whereas the small-cap index slipped by 0.02 per cent.

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