New Delhi: It has been a big day for the markets as the BSE Sensex touched the 15,500 mark, posting its biggest advance in three months, on speculation that the earnings reports this month will support higher share valuations.
Sensex and Nifty, on Thursday scaled new peaks on brisk buying by foreign and domestic funds, even as Reliance Industries' stock touches its all-time high.
Nifty, climbed to close at an all-time high of 4562.10 by gaining 62.55 points. During the day it surged to 4,573 and touched a low of 4496.20 points.
The rally in the market was led by the index heaviest Reliance Industries stock, which shot up by Rs 85.35 at a record high of Rs 1,896.45, after touching Rs 1,925 at intra-day.
Sustained buying across-the-board saw the index zoom to a new, intra-day high of 15,593 - a gain of 292 points from the previous close of 15,301. The Sensex finally closed with a gain of 249 points at 15,550.
The BSE Oil & Gas Index zoomed nearly 3% to 8168. The BSE Auto Index gained 1.9% to 5147. The broad market breadth was bullish - out of 2,676 scrips traded, 1,502 moved up and 1,105 declined Thursday.
Reliance zoomed over 4% (Rs 76) to Rs 1,896. Infosys gained 2.6% to Rs 1,997. Tata Motors advanced 4.7% (Rs 35) to Rs 778. Bajaj Auto gained over 4% (Rs 99) to Rs 2,382.
Grasim, L&T, Reliance Communications, ACC, M&M, and SBI also finished with gains today.
Spice was the most active counter with a turnover of Rs 695 crore followed by DLF (Rs 371 crore), Zee Entertainment (Rs 272 crore), Reliance (Rs 208 crore) and RCom (Rs 151 crore).
Infosys Technologies Ltd. (INFO IN) gained 49.75 rupees, or 2.6 percent, to 1,996.85. The country's second-largest provider of computer services is in talks with at least four companies, including Cap Gemini SA, for a potential acquisition, the Times of India reported, citing industry officials and analysts it didn't identify.
Jindal Steel & Power Ltd. (JSP IN) spurted 194.15 rupees, or 5.1 percent, to 4,023.3. The local steel and power producer signed an agreement with Bolivia to invest $2.1 billion in a steel and iron-ore venture, the company said in a statement to the Bombay Stock Exchange.
Jindal Steel will invest the amount over eight years on a 10 million ton pellet plant, a 1.7 million ton steel mill and a 450-megawatt power plant.
Spice Communications Ltd. (SPCM IN) rose 14.65 rupees, or 32 percent, to 60.65 after the Indian mobile-phone unit of Telekom Malaysia Bhd., which raised 5.2 billion rupees selling shares at 46 rupees apiece, began trading today.
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