A month ahead of polls, Sensex ends shy of 22,000 pts

The benchmark S&P BSE Sensex on Friday soared to a new record high of 21,919.79 points or 1.89 per  cent higher on heavy foreign capital inflows, tracking positive domestic and global cues.

Strong buying was observed in banking index (bankex), capital goods, oil and gas and auto sectors, while selling pressure was seen in IT and healthcare sectors.

On the Sensex, major gainers were Adani Enterprises (10.13 per cent),  DLF (9.87 per cent) and Jaiprakash Associates ( 9.76 per cent).

Among losers, Aurobindo Pharma and Tech Mahindra each fell more than 4 per cent.

Market breadth was positive with 260 scrips advancing on the BSE 500 against 235 declines.

Market heavyweight Reliance Industries rose 5.72 per cent. While Larsen and Toubro rose 4.86 per cent, ICICI Bank rose 5.97 per cent. 

Gains came as foreign portfolio investors extended their buying streak to a fifteenth straight session, totalling over $1 billion.

Following suit, the NSE index Nifty hit the psychological 6,500-level for the first time ever in late morning trade on sustained foreign capital inflows. Nifty closed 125 points higher at 6,526.65 points, a rise of nearly 2%.

In four days, the Sensex has gained over 973 points.

"Euphoria continues on Dalal Street. It was broadly on the hope the pre-election rally fuelled by foreign funds, along with an increased participation from retail investors will drive markets higher in near-term," said Jayant Manglik, President-retail distribution, Religare Securities.

The 30-scrip Sensex rose 405.92 points from Thursday's close of 21,513.87 points.

The S&P BSE bankex rose 552.04 points, capital goods index gained 689 points , oil and gas index soared 320 points and auto index went up by 136.52 points. However, the IT index fell into negative terrain falling 191 points tracking the rise in rupee. Total turnover rose further to Rs 3,408.88 crore from Rs 2,692.06 crore on Thursday.

Jignesh Chaudhary, head of research, Veracity Broking Services said,"Indian equity markets are on a roll and are aiming to reach newer highs in the next few trading sessions before the general election. Markets today traded strong throughout the day due to hectic buying by FIIs, who have shown tremendous faith in Indian markets which was not expected of them before the general election."

Asian shares closed mixed with downward bias ahead of theUS non-farm payrolls report later for confirmation of USemployment data. Key indices from China, Hong Kong and SouthKorea closed down while from Japan and Singapore finished up.

Taiwan index closed almost unchanged.

European markets, however, were trading lower. The CACwas down by 0.29 pct, the DAX by 1.00 pct and the FTSE by 0.54pct. The US Dow Jones Industrial Average closed 0.38 per cent higher in Thursday's trade.

(With PTI inputs)