Mumbai: Dalal Street surged to record highs once again powered by the Bank Nifty which scaled above the 18,000 mark following the merger announcement between Kotak Mahindra Bank and ING Vysya Bank.
At 2:30 pm the Nifty was trading at 8483.60 up almost a percent while the Sensex was trading at 28,341.41 mark higher by 270 points. The Bank Nifty was the top sectoral gainer with gains of 2.6%.
Top contributors to the Nifty's gains were banks led by Kotak Bank which was up 4.6% followed by PNB (3.5%), SBI (3.2%), Axis Bank (2.8%) and ICICI Bank (2.8%).
The top four losers on the Nifty were JSPL (2.3%), Infosys (1.7%), HUL (1%) and Tata Steel (0.9%).
The broader markets under-performed with the S&P BSE Mid-cap index gaining only 0.3 percent and the S&P BSE Small-cap index clocking similar gains.
On the sectoral front besides banks, the consumer durables and capital goods sectors gained over a percent while the oil & gas sector was up 0.9 percent. IT was the top sectoral loser.
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Updated Date: Nov 21, 2014 14:55:15 IST