Nifty Hits Lifetime High; Extends Rally

Posted By: Religare
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The Nifty hit a new record of 10,150 points in trade today, tracking firm cues from Asian peers, amid sustained buying by retail and foreign investors.

Nifty Hits Lifetime High; Extends Rally
On the sectoral front, all the indices were trading in green, barring pharma stocks, while capital goods and auto stocks were leading the gain, rising as much as 1.83 per cent and 1.35 per cent, respectively. After making a flat debut, Bharat Road Network, a Srei Infrastructure Finance initiative, rose as much as 6.70 per cent to trade at Rs 218.65. In the day"s trade so far, stocks hits intra-day high and low of Rs 218.65 and Rs 196.50, respectively.

The 30-share benchmark index was trading at 32479.71, up by 207.1 points or by 0.64 per cent, and the NSE Nifty was at 10164.7, up by 79.3 points or by 0.79 per cent.

In the day"s trade so far, the Sensex touched intraday high of 32508.06 and intraday low of 32361.25, while the NSE Nifty touched intraday high of 10167.15 and intraday low of 10131.3. Cadila Healthcare rose 2 per cent on the Bombay Stock Exchange after the drug major said that its arm Nesher Pharmaceuticals has received final approval from the USFDA to market Oseltamivir Powder for Oral Suspension, 6 mg/ml which is used in the treatment and prevention of influenza.

Shares of Nucleus Software Exports surged nearly 8 per cent on the BSE after the company said that Atlas Finance, a micro-finance company in South Africa, has chosen the company" Lending Analytics to help them leverage the insights provided by their data to make faster, more informed lending decisions.

Indiabulls Real Estate
plunged over 7 per cent on the BSE amid multiple block deals. As per data available with exchange, as much as 136.16 lakh shares have changed hand on the counter as compared to two week average of 9.55 lakh shares.

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 3121.00,+3.27%), Tata Motors Ltd. (Rs. 234.75,+2.53%), Larsen & Toubro Ltd. (Rs. 1243.00,+2.52%), Tata Motors Ltd. (Rs. 408.85,+1.89%), Hindustan Unilever Ltd. (Rs. 1263.90,+1.48%), among others.

On the flip side, Sun Pharmaceutical Industries Ltd. (Rs. 515.30,-1.62%), Dr. Reddy's Laboratories Ltd. (Rs. 2189.80,-0.93%), Tata Steel Ltd. (Rs. 673.80,-0.81%), Oil And Natural Gas Corporation Ltd. (Rs. 165.75,-0.69%), State Bank of India (Rs. 271.90,-0.06%), were among top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total shares traded 2690, shares advanced were 1637, while 895 shares declined, and 158 were unchanged.

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