Friday 9 May 2014

Closing Summary, Market Synopsis: 9th May, 2014

Key benchmark indices hit a record high on Friday, posting their biggest daily gains since September on hopes the opposition Bharatiya Janata Party would win a majority in elections set to conclude next week, sending blue-chips such as ICICI Bank sharply higher. The Sensex rose as much as 3.15 percent to a record high at 23,048.49, surpassing its previous high of 22,939.31 hit on April 25. It ended up a provisional 2.9 percent. The Nifty rose as much as 3.18 percent to as high as 6,871.35, surpassing its previous all-time high at 6,869.85 on April 25. It rose 2.99 percent.

Banking stocks gained the most with the Bank Nifty gaining 5.5 percent to hit a record high at 13,814.25. The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 46 advances to 3 declines, 1 stock remain unchanged.

Photo: Closing Market Update : 
Key benchmark indices hit a record high on Friday, posting their biggest daily gains since September on hopes the opposition Bharatiya Janata Party would win a majority in elections set to conclude next week, sending blue-chips such as ICICI Bank sharply higher. The Sensex rose as much as 3.15 percent to a record high at 23,048.49, surpassing its previous high of 22,939.31 hit on April 25. It ended up a provisional 2.9 percent. The Nifty rose as much as 3.18 percent to as high as 6,871.35, surpassing its previous all-time high at 6,869.85 on April 25. It rose 2.99 percent.

Banking stocks gained the most with the Bank Nifty gaining 5.5 percent to hit a record high at 13,814.25. The market breadth, indicating the overall health of the market was positive, in Nifty50 stocks the advances to declines stands at 46 advances to 3 declines, 1 stock remain unchanged.

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