Nifty Ends At A 3-Week High On Hopes Of Easing Interest Rates

The CNX Nifty continued to rule firm for the second consecutive day, surging by another 111 points to end at more than 3-week high of 8,373.65 on hopes of easing of interest rates by Reserve Bank Of India (RBI).

High global advices also boosted the market sentiment.

Expectation of early arrivals of monsoon was another factor behind rise in share values.

Shares of finance, banking, energy, infrastructure, pharma and FMCG sectors firmed up on good buying enquiries.

The CNX Nifty resumed higher at 8,284.95 and firmed up further to a high of 8,384.60 before concluding at more than 3-week high at 8,373.65, showing a gain of 111.30 points or 1.35 per cent. It had last ended at 8,398.30 on April 23, 2015.

It has gained by 149.45 points, or 1.82 per cent, in the previous two days.

Major Nifty gainers were Gail India (3.81 per cent), Dr Reddy’s Lab (3.60 per cent), Zeel (3.47 per cent), UltraTech Cement (3.38 per cent) and BPCL (3.36 per cent).

However, Asian Paints fell by 2.98 per cent, Tech Mahindra (0.93 per cent), Hero MotoCorp (0.36 per cent) and Coal India (0.22 per cent).

Turnover in the cash segment fell to Rs 15,233.70 crore from Rs 15,498.06 crore on last Friday.

A total of 7,450.74 lakh shares changed hands in 67,67,661 trades and the total market capitalisation of the NSE stood at Rs 99,39,482 crore.

Source: http://www.huffingtonpost.in/2015/05/18/nifty-3-week-high_n_7305334.html

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