Nifty breaches 6,500-mark on widespread buying

The 50-issue Nifty of NSE crossed 6,500 level by soaring 105 points, or 1.64 percent, to trade at an all-time high of 6,506.15.

PTI| Last Updated: Mar 07, 2014, 13:08 PM IST

Mumbai: The NSE index Nifty on hit psychological 6,500-level for the first time ever in late morning trade on sustained foreign capital inflows following positive domestic and global cues.

The 50-issue Nifty of NSE crossed 6,500 level by soaring 105 points, or 1.64 percent, to trade at an all-time high of 6,506.15.

A flurry of buying by foreign and retail investors in banking and other bluechip stocks on improving economic fundamentals and narrowing CAD figures in the third quarter of 2013-14 helped the Nifty to trade above 6,500 mark, brokers said.

Besides, a firming trend on other Asian bourses ahead of US jobs report lifted the sentiment, they said.

The 30-share index Sensex, after touching a new peak of 21,866.51, slipped partially to trade 270.48 points, or 1.26 percent, higher at 21,784.35 with banking, capital goods and realty sector stocks leading the rally.

Among banking stocks, ICICI Bank surged 6.53 percent, followed by SBI (4.68 percent), HDFC Bank (3.54 percent), Yes Bank (6.30 percent) and Axis Bank (5.74 percent).

In the Asian region, Japan's Nikkei closed 0.92 percent higher, while Hong Kong's Hang Seng rose 0.08 percent.