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Sensex, Nifty on record-breaking spree; Cipla up 7% on anti-asthma inhaler launch

Tuesday, 2 September 2014 - 10:40am IST | Place: Mumbai | Agency: dna webdesk

Continuing their record-setting streak, markets today hit new highs with the BSE Sensex scaling another peak of 26,949.08 and the NSE Nifty soaring to 8,047.80 in opening trade on sustained capital inflows buoyed by positive economic data.

The benchmark BSE Sensex climbed 81.53 points, or 0.30%, to trade at a new high of 26,949.08, breaking its previous record of 26,900.30 reached yesterday. The benchmark index had gained 553.44 points in the previous seven sessions. Sensex has come down from its early day trading peak and is hovering around 26918 which is 50 points above yesterday's closing.

On similar lines, the 50-issue Nifty gathered another 20.95 points, or 0.25%, to hit new record of 8,048.65, surpassing its previous intra-day high of 8,035 touched yesterday. The Nifty is at 8050 now, up 50 points.

All the indices are in green apart from BSE PSU, capital goods, metals and IT.

Cipla has gained 7% on the launch of anti-asthma inhaler in Germany and Sweden. The other gainers are Bharti Airtel, Sun Pharma and Ultra Tech Cement.

The top losers are Jindal Steel, L&T, Infosys and HUL. 

Brokers said sentiment remained upbeat on sustained capital inflows, driven by positive economic data with the GDP growth improving to two-and-a-half year high of 5.7% in the April-June quarter and CAD narrowed sharply to 1.7% of GDP.

The market also got a boost after Japan yesterday announced doubling of its private and public investment in India to about USD 34 billion over the next five years, they said. Stocks of auto companies continued their rising streak on the back of healthy growth in domestic car sales in August.

Shares of the country's largest car-maker Maruti Suzuki rose 0.70%, while HeroMoto Corp moved up 1.64%. Among other Asian markets, Hong Kong's Hang Seng index was down 0.21%, while Japan's Nikkei went up 1.29% in early trade today. The US markets remained closed yesterday for "Labour Day".

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