Sensex hits 22,386 pts, mkts close 2013-14 on new record highs 

MUMBAI: India’s equity markets hit an all-time high for the sixth day running, closing financial year 2013-14 on a positive note, with the Bombay Stock Exchange Sensex gaining by 46.30 points or 0.21% to end at 22,386.27 points.
The broader National Stock Exchange Nifty gained by 8.30 points or 0.12% to end at 6,704.20 points.
The markets had risen even higher during intraday trading, with the Sensex touching 22,467.21 points.

“The markets remained positive despite an overbought situation, on the back of positive global cues and of the strong buying seen by the FIIs (foreign institutional investors) and retailers,” said Alex Mathews, head research, Geojit BNP Paribas Financial Services.
The Sensex has gained 1,266.15 points this March, the best monthly gain since October last year. For the full financial year, the index saw a rise of 3,550.50 points or 18.8% from the closing level on March 28 last year.
Metal and Realty sectors were the major sectoral gainers for the day, gaining 3.87% and 2.83% respectively. Major declines were seen in the FMCG and power sectors at 0.64% and 0.60% respectively.
“Investors are now eyeing Tuesday’s RBI policy meet and its outcome would trigger the next directional move,” said Jayant Manglik, president, retail distribution, Religare Securities.

  NAME- RAJ GAURAV

                PGDM 2 SEM