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Nifty hits 9000, closes at record
Tue, 3 Mar Closing

Indian markets touched an all-time high of 9000 after fresh buying was seen in various sectors. BSE-Sensex and NSE-Nifty opened the trading session in the red as growth in the core sector slowed down. However, oil and gas and Information Technology sector buoyed the Indian Markets in the green. BSE Sensex ended today's trading session with a gain of 135 points while NSE Nifty ended today's session just tad of 9000 mark. Nifty managed to touch the 9000 level but couldn't sustain for long above that level. S&P BSE Midcap and S&P BSE Smallcap indices outperformed the market with gains of 1.1% and 1.5%, respectively.

The Indian rupee is trading at 61.91 levels, up 0.1% against the U.S. Dollar. Gold prices rebounded from early losses and is trading at Rs 26,510 levels, while Silver prices is trading lower by 0.40% at Rs 36,500 levels. Crude oil prices continue to trade at lower levels at Rs 3,138 per barrel. European markets continue to trade with modest gains. DAX and FTSE are trading with gains of 0.25% and 0.20% respectively.

In the second half of the trading session buying was witnessed in all the counters which predominantly included banks, infrastructure and metals. IL&FS transportation networks won an award from the Government of Gujarat to build 8 rail over bridges. The project is valued at Rs 2.5 billion and has to be built in a time frame from of 17.5 years. For this project, the company will be receiving half-yearly payments of Rs 22 crores. Post this development, stock price of IL&FS transportation increased 4%.

Information technology had buoyed the Indian markets when it was in the red in the early part of the day. Led by TCS, many IT companies announced key developments. Nucleus Software entered into a collaboration with Red Hat. Following this development stock price of the company zoomed nearly 10%.

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