BSE Sensex, NSE Nifty zoom to all time high; Sun Pharma, banks lead gains

Apr 09 2014, 17:07 IST
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A man walks past the statue of a bronze bull at the entrance to BSE building, in Mumbai. AP A man walks past the statue of a bronze bull at the entrance to BSE building, in Mumbai. AP
SummaryBSE Sensex soared to a record high, surpassing previous all-time highs hit just last week.

Surpassing all previous records, the BSE Sensex today touched a fresh life-time high of 22,740.04 intra-day on buying in pharma, banking and oil stocks triggered by positive growth prospects.

The 30-share barometer closed at 22,702.34 points, up by 358.89 points, or 1.61 per cent.

The broad-based NSE Nifty crossed 6,800 level for the first time before settling at record 6,796.20 points, up by 101.15 points, or 1.51 per cent, over the previous close.

The BSE Sensex had its biggest single day gain after March 7 after IMF forecast a better growth rate for India in 2014. IMF said India's growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014.

Markets Top Gainers, Markets Top Losers

A higher opening in Europe further supported the rally, brokers said.

Index-linked Sun Pharmaceuticals Industries was the star performer by zooming 6.60 per cent as analysts upgraded the company after it agreed to acquire Ranbaxy Laboratories Ltd.

Gains in Reliance Industries, banking stocks like ICICI Bank, HDFC Bank and SBI also fuelled the rise in the barometer.

In 30-BSE index components, 26 stocks closed with gains.

IT stocks, lead by Infosys Ltd and TCS, however, fell ahead of the financial results. Infosys dropped the most by 1.16 per cent among index stocks.

Besides, Tata Motors, Axis Bank, HDFC, Hindalco, BHEL, Larsen and Toubro, Mahindra and Mahindra and Maruti Suzuki India also posted gains.

The banking sector index gained the most by 3.45 per cent to 14,798.80 followed by metal index by 2.26 per cent to 10,363.34.

Healthcare index rose by 2.21 per cent to 10,593.26 and Realty index by 1.85 per cent to 1,533.57.

BSE Sensex rallies to a new record high, Sun Pharma shares surge on Ranbaxy deal

(Reuters) BSE Sensex soared to record highs on Wednesday, surpassing previous all-time highs hit just last week as Sun Pharmaceuticals Industries surged on broker upgrades after it agreed to acquire Ranbaxy Laboratories Ltd in a $3.2 billion deal.

Markets Top Gainers, Markets Top Losers

The BSE Sensex rose as much as 1.77 percent to an all-time high of 22,740.04, surpassing its previous all-time high hit on April 3. The NSE Nifty index rose as much as 1.7 percent to a record high of 6,808.70.

Sun Pharmaceutical provisionally gained

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