Post Session-Sensex extends record high spree Analysis for Sep 02, 2014

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Dalal Street seems to be on a roll as the Sensex surged past the 27K barrier, closing at a record high for a third straight session, advancing by over 150 points led by handsome gains in consumer durables and healthcare stocks. Optimism that the Modi government will undertake key reforms on the tax and financial front to attract overseas investors boosted sentiment while markets continued to ride high on upbeat Q1 GDP numbers. The stock of Cipla surged by over 5 per cent after it launched an anti-asthma inhaler in Germany and Sweden.

Most Asian stocks surged today with China"s Shanghai Composite rallying on hopes that the government will increase military spending to boost growth. Hang Seng ended flat but Japan"s Nikkei 225 soared as a weaker yen boosted the appeal of exporter stocks.

The BSE SENSEX closed at 27,019.39, up by 151.84 points or by 0.57 per cent, and the NSE Nifty ended at 8,083.05, up by 55.35 points or by 0.69 per cent.

The BSE Sensex touched intraday high of 27,082.85 and intraday low of 26,886.22 The NSE Nifty touched intraday high of 8,101.95 and intraday low of 8,036.55.

Meanwhile, the BSE MIDCAP closed at 9,523.77, up by 79.18 points or by 0.84 per cent, while the BSE SMLCAP ended at 10,492.42, up by 94.83 points or by 0.91 per cent.

On the Sectoral front, consumer durables and healthcare rose 2.76 per cent and 1.84 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3244, shares advanced were 1806 while 1298 shares declined and 140 were unchanged.

The top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 557.40,+5.23%), Bharti Airtel Ltd. (Rs. 391.90,+4.24%), Sun Pharmaceutical Industries Ltd. (Rs. 863.15,+2.50%), HDFC Bank Ltd. (Rs. 858.50,+2.01%), Hero MotoCorp Ltd. (Rs. 2801.65,+1.54%), among others.

Story first published: Tuesday, September 2, 2014, 16:48 [IST]
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