Mumbai: The market has ended on high note after a volatile trading session. The Nifty closed above 7800 for first time ever, at 7830.60, up 34.85 points.
The Sensex ended at record closing high of 26,271.85 up 124.52 points. About 1502 shares have advanced, 1456 shares declined, and 129 shares were unchanged.
Hindalco, Tata Steel, HUL, Wipro and ITC are top gainers in the Sensex. Among the losers were GAIL, Hero MotoCorp, Cipla, Dr Reddy's Labs and ICICI Bank.
DIPP Secretary Amitabh Kant told CNBC-TV18 that the government remains committed to opening up the FDI regime, something that was announced in the Union Budget will shortly go to Cabinet with liberalised rules for FDI in defence, construction and railways.
Kant said the consultations are at a final stage and the Cabinet note is fully prepared and it is just a matter of time before final Cabinet approval will be sought as a formality. He also said this government is committed to increasing manufacturing and bringing it to a growth rate of nearly 14-15 percent per annum and the government is taking various steps.
For example 55-60 percent of the items that have earlier been classified as defence have now been delicensed and deregulated which means that Indian manufacturers don't even need a licence now to manufacture all these defence items. There will also be 49 percent in defence via the automatic route that can also give a booster shot as far as defence is concerned.
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