Nifty soars to life time high to end above 10,600-mark

TIL Desk/Business/Mumbai/ NSE benchmark Nifty ended at fresh record closing high above 10,600-mark, up 65 points following strong buying sentiment tracking positive global cues, post GDP estimates and credit growth data.

The broader markets also participated in the rally and outperformed benchmark indices again as the Nifty Midcap index was up 1.02 per cent and Small-cap rose by 1.45 per cent. About two shares advanced for every share falling on the NSE.

Overseas, European and Asian stocks edged higher on firm US lead as investors awaited upcoming earnings releases. The NSE Nifty opened higher at 10,591.70 and moved in a range of 10,631.20 and 10,588.55 before ending at 10,623.60, up 64.75 points, or 0.61 per cent.

It saw an intra-day movement of about 42.65 points. On the sectoral front, Pharma rose by 1.41 per cent, IT 1.23 per cent, Media 1.21 per cent, Realty 0.94 per cent, Metal 0.87 per cent, FMCG 0.77 per cent, Energy 0.53 per cent, Private Bank 0.50 per cent, Finance Service 0.45 per cent, Auto 0.38 per cent and Bank 0.29 per cent.

However, PSU and Infra fell 0.16 per cent and 0.02 per cent, respectively. Major index gainers were Coal India, Lupin, Infosys, Sunpharma, IbulHsgFin, BPCL, HindPetro, TechM and Larsen.