Indian benchmark indices traded most of the trading session in negative territory but the last half an hour momentum broke out the intraday range. Nifty touched its highest level since November 2010. Nifty ended the day at 6187 up by 17 points while Sensex closed at 20286 surged 38 points.
Cement companies stocks gained after a regulatory tribunal decided to continue its hearing on their challenge to price collusions charges from the Competition Commission of India. Drug makers' shares fell down after the government notified a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps. ITC posted a 19.5 percent jump in quarterly net profit but remained flat.
Among the sectoral indices CNX Realty surged 2.03% followed by CNX Infra (1.72%) and CNX PSU Bank (0.66%) while CNX Media was biggest loser plunged -0.84%.
Out of the 50 stocks of Nifty 28 stocks were ended in green, 21 in red and 1 remain unchanged.
Market breadth was negative on the NSE with 437 gainers against 524 losers and 53 remain unchanged.
Market breadth was negative on the NSE with 437 gainers against 524 losers and 53 remain unchanged.
Top 5 Nifty gainers: BHEL (5.06%), Reliance Infrastructure (3.05%), JP Associate (2.69%), DLF (2.68%) and NTPC (2.49%) were among top Nifty gainers.
Top 5 Nifty losers: IndusInd Bank (-2.58%), HCL (-2.42%), Dr Reddy (-2.02%), Bharti Airtel (-1.85%) and NMDC (-1.65%) were index losers.
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