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Sensex, Nifty Scale New Peaks As Oil Prices Tumble

Friday, November 28, 2014
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MUMBAI:  Markets gained for the third straight session on Friday with benchmark Sensex surging 255.08 points to 28,693.99 and Nifty rising 94.05 points to 8,588.25, led by banking and auto shares, as hopes of a rate cut by RBI brightened after oil prices tumbled to multi-year lows.

FII buying in bluechips and retail investors picking up midcap shares helped markets cement gains. All eyes are now on quarterly GDP data to be released later. Total investor wealth is within sniffing distance of Rs 100 lakh crore.

The BSE 30—share barometer Sensex spurted by 255.08 points, or 0.90 per cent, to close at new high of 28,693.99. It broke the previous peak of 28,499.54 recorded on November 24.

Intra-day, it touched a new high of 28,822.37, bettering previous lifetime high of 28,541.96 also hit on November 24.

The Sensex has now gained over 355 points in three days.

Gainers in the 30—share Sensex included Tata Steel, Tata Motors, M&M, Maruti Suzuki, Coal India, L&T, Hero MotoCorp, NTPC, Hindalco, HDFC, Wipro, ITC Ltd, Tata Power and RIL.
Source: PTI

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