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The Nifty and the Sensex continues its gains for the second trading session of 2013.
The Nifty closed at 5,993 after briefly touching 6,006 intra-day, up 43 points.
The Sensex closed at 19,714, up 133 points.
“‘Nifty has hit 6,000 levels after a gap of two years. We witnessed one of the best years for FII inflows in 2012 with total inflows crossing $24 billion. Markets bounced back sharply with a more than 27% gain. The political leadership ushered new reforms when the country was facing the threat of a sovereign downgrade. We expect this rally to continue in 2013 on the back of rate cuts, revival in growth and fiscal consolidation. We expect 13-15 per cent earnings growth and a P/E rerating from 14 to 16x,” said Varun Goel, head PMS-Karvy.
The volatility index, India Vix, closed flat at 13.71.
Bajaj Auto, J P Associates, Maruti, BPCL and IDFC were the top five Nifty gainers while Asian Paints, Bharti Airtel, ITC, M&M and Wipro were the top losers.
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