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Nifty crosses 6000 after two years

Last updated on: January 2, 2013 14:23 IST

Nifty crosses 6000 after two years

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Markets continued to trade higher on the back of the optimism generated by the US fiscal cliff deal.

The Sensex has gained 169 points at 19,750.

The National Stock Exchange's Nifty-50 index has jumped 53 points to cross the 6K mark and is trading at 6,004.

The US Congress approved a rare tax increase on Tuesday that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into a deep fiscal crisis and recession.

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Image: The Bull.
Photographs: Reuters

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The rupee strengthened by 37 paise to trade at fresh two-week high of Rs 54.31 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased dollar selling by exporters and banks amid sustained foreign capital inflows.

Asian markets traded firm.

Hong Kong's Hang Seng gained 2% to 23,062, Taiwan's Weighted index rose 1% to 7,784, Singapore's Straits Times was up 1% to 3,200  in morning trades.

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Image: Bombay Stock Exchange.
Photographs: Reuters

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Nifty crosses 6000 after two years

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Equity markets in Japan and mainland China are closed on Wednesday and Thursday for public holidays.

On the domestic front, all sectors were trading positive.

BSE consumer durables index addecd 1.5% to 7,918.

Metal, capital goods and Oil & gas indices have seen buying interest as well and are up 1% each.

Among key Sensex stocks, BHEL is the top gainer -- up 2.4% at 238.

Metal gainers include Sterlite, Jindal Steel and Hindalco.

Maruti Suzuki, HDFC and Cipla are up around 1.5% each.

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Image: Bombay Stock Exchange.
Photographs: Reuters

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Nifty crosses 6000 after two years

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Market heavyweight -- Reliance is up 1.5% at Rs 854.

Select shares have slipped into the negative zone. Mahindra & Mahindra is down 0.6% at Rs 935. Wipro and HUL are marginally in red.

Bajaj Auto has moved higher by 2% at Rs 2,177 after the company said its total sales in December increased 13% year-on-year to 343,946 units, due to higher demand for motorcycles and rise in exports.

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Photographs: Reuters

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Nifty crosses 6000 after two years

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This is its highest ever December sales figure.

Glenmark Pharmaceuticals is trading higher by 1.4% at Rs 546, extending its Tuesday's 2.2% gain after the company announced the USFDA approval to Salix Pharmaceuticals for marketing anti-diarrheal drug Crofelemer.

The market breadth is strong as 1686 stocks have advanced compared to 833 stocks which declined on BSE


Photographs: Reuters

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