Nearly 250 points to 41,075, less than 50 points away from its record high of 41,120 hits on Yesterday. The Nifty gained 0.60 per cent 12,100 levels. Yes Bank’s share were up 5 per cent in early trade. Yes Bank board will meet on 29th November to consider raising of funds by issue of equity, equity-linked securities through permissible modes. Banking stocks were in the limelight with Nifty Bank index rising nearly 0.40 per cent to hit a new high of 31,875. Auto stocks Tata Motors, M&M and Maruti Suzuki were up between 1 per cent and 2.5 per cent on expectations of the government announcing more measures to boost the sector.
Shrikant Chouhan of Kotak Securities attributed the record run in Indian markets to buying from FIIs since the last couple of weeks and cooling down of global worries on the trade tariff front. Domestic news flow is shaping up positively, he added. The government has in recent months a slew of measures to boost economy including corporate tax rate cut and stimulus for the crucial real estate sector.