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Sensex zooms over 400 pts; regains 25K level ahead of Modi's swearing-in

Last Updated: Monday, May 26, 2014 - 11:58

Zee Media Bureau

The benchmark BSE Sensex on Monday reclaimed 25K level by zooming over 400 points in mid-session trade on the back of rally in capital goods, power, auto and metals sector stocks amid increased fund inflows ahead of swearing-in of Narendra Modi as the 15th Prime Minister of India.

Besides, a firming trend on other Asian markets supported the upside.

The 30-share Sensex spurted by 420.34 points, or 1.70 percent, to trade at 25,113.69. The gauge had hit an intra-day high of 25,141.64 earlier.

The 50-share NSE Nifty also moved up by 125.20 points, or 1.70 percent, to 7,492.30.

Sectoral indices led by capital goods, power, auto and metals sector stocks continued to trade in the positive territory with gains up to 2.53 percent.

The BSE Sensex and NSE Nifty climbed to a lifetime high of 25,375.63 and 7,563.50 on May 16.

Brokers said sentiments remained extremely bullish on persistent buying by foreign investors who expect the new BJP-led NDA government to take measures for reviving the investment climate.

Among other Asian markets, MSCI`s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent while Japan`s Nikkei share average gained 0.7 percent to hit one-month high.

With agency inputs

First Published: Monday, May 26, 2014 - 09:57
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