MUMBAI, Mar 31 (Business Standard): Markets closed FY14 on a triumphant note with both the benchmark indices closing at record highs with the Nifty gaining past the 6,700 levels.
The benchmark indices have reported their sharpest rally in past four years during the financial year 2013-14 aided by supportive global cues and continued buying by foreign institutional investors (FII's) on expectations of a Narendra Modi led government at the Centre post elections.
For the financial year 2013-2014, the Bombay Stock Exchange's benchmark S&P BSE Sensex gained 18.9 per cent at 22,386 led by capital goods, information technology (IT), auto and pharmaceuticals. The National Stock Exchange CNX Nifty ended the fiscal with a 17.9 per cent gain at 6,704.
In the broader markets, the mid-cap index marginally underperformed at 16 per cent while the small-cap index recorded a thumping outperformance with a 22-per cent gain.
Earlier, during the fiscal 2009-10, S&P BSE Sensex and CNX Nifty had surged 80.54 per cent and 73.76 per cent respectively.
FIIs have made net investments of Rs 790.80 billion in Indian equities during the financial year 2013-14, according to market regulator data.
The BSE capital goods and auto sector indices have surged 32 per cent each, while IT and healthcare index 27 per cent and 26 per cent respectively
Meanwhile, on Monday, the markets opened firmed but turned volatile on account of weakness in heavyweights and briefly slipped into the negative territory in noon deals. But, in the closing hour, gains in Reliance Industries, HDFC and IT heavyweights helped index close higher.
Metal index up 4 per cent was the top sectoral gainer on expectations that any move by China to step up infrastructure spending would boost demand for industrial metals.
Consumer Durables, Auto, Realty indices were the other major sectoral gainers, up 1-3 per cent.
Banking index was flat with a negative bias ahead of the Reserve Bank of India's (RBI) policy review tomorrow.
Capital goods, Power and FMCG indices down 0.5-0.6 per cent were the only indices in red.
Hindalco, Tata Steel and Sesa Sterlite up 3-9 per cent were the top gainers among Sensex-30.
Auto names trended higher with Maruti Suzuki, Mahindra & Mahindra, Bajaj Auto, Hero MotoCorp and Tata Motors up 0.5-2 per cent.
IT heavyweights TCS and Infosys gained 1 per cent and 0.6 per cent while Wipro was down 1.6 per cent.
Sun Pharma, Reliance Industries, HDFC and HUL up 1-2 per cent were the notable gainers.
Meanwhile, ONGC, Dr Reddys Lab, Tata Power, ITC, Gail India, BHEL, L&T and ICICI Bank down 1-3 per cent were major losers.
In individual stocks, Suzlon Energy surged 12 per cent to Rs 11.10 on back of heavy volumes on reports that the company plans to sell shares in its German subsidiary Senvion SE, formerly known as RE Power to raise Rs 100-billion by listing it on the London Stock Exchange (LSE).
GM Breweries was locked at upper circuit at Rs 158.45, extending its previous day's rally on the BSE, after the company said that its board will recommend bonus issue to existing shareholders in forthcoming board meeting.
