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Sensex breaches 24,000 level on exit polls forecast

Tuesday, 13 May 2014

Mumbai: The benchmark Sensex crossed 24,000 mark for the first time on sustained FII buying in power, consumer durables, PSUs, banking and capital goods stocks after exit polls showed the BJP-led NDA will form the new government at the Centre.

The 30-share BSE barometer, after opening on a strong note, breached 24,000 level to trade at an all-time high of 24,068.94 by surging 517.94 points, or 2.19 per cent, at 1200 hours.

The rally was led by stocks of Coal India, Reliance Industries, SBI, ICICI Bank, NTPC, ONGC, Larsen and Toubro, ITC, Maruti Suzuki and Infosys.

The Sensex had gained over 1,206 points in the last two trading sessions.

The broad-based Nifty of the National Stock Exchange zoomed by 151.50 points, or 2.16 per cent, to hit a new high of 7,165.75.

Stocks of PSUs, oil and gas and capital goods sectors turned investors' fancy, helping the key indices to touch historic highs.

Besides, positive global cues too triggered buying by foreign funds, they said.

The power sector index gained the most by rising 4.45 per cent to 1,875.41, followed by capital goods index by 4.17 per cent to 13,450.52.


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