Market ended its third consecutive session of gains with benchmarks ending at their highest closing levels in 2014, led by buying in RIL, Sun Pharma and ICICI Bank among other heavyweights.
The 30-share Sensex of the Bombay Stock Exchange (BSE) closed 86.55 points higher at 21,337.67 and the National Stock Exchange (NSE) NIFTY index closed at its highest closing levels in 2014, up 25.15 points at 6,338.95.
Broader markets underperformed the bechnmark indices with the BSE mid and smallcap indices ending 0.2% higher against Sensex’s 0.4% upmove and Nifty’s 0.3%.Market participants now await heavyweight Larsen & Toubro’s December, 2013 qaurter results to announced later in the day. The stock is closed at Rs 1,004.80 down 0.35%.The rupee was trading at Rs 61.84 compared with previous close of Rs 61.88 per dollar. The Indian rupee was trading lower due to month end dollar demand from importers. Bearish sentiments in equity markets also contributed to the weakness.Reliance up 0.94%, Sun Pharma up 2.85, ICICI Bank up 0.76%, Bharti Airtel up 1.56% and Tata Steel up 2.2% were the top Sensex gainers today.
Shares of Torrent Pharmaceuticals ended higher by nearly 7% on Wednesday after the company posted better-than-expected earnings for the third quarter ended December 2013.Shares of Just Dial soared over 5% at Rs 1,695, also its record high on the BSE, on back of heavy volumes. The counter has seen huge trading activity with a combined 1.53 million shares representing 3.26% of total free-float equity of the company changed hands till noon deals on the NSE and BSE.Shares of Tilaknagar Industries gained over 3% at Rs 55 on talk that Kishore Chhabria-led Allied Blenders and Distillers (ABD) is looking to acquire majority stake in the company. To fund the acquisition, ABD has started raising $200 million.Suven Life Sciences jumped over 5% to Rs 78.25 after the US Food and Drug Administration (USFDA) has classified the company’s facility at Pashamylaram near Hyderabad as acceptable for manufacture and supply of active pharmaceutical ingredients, intermediates and formulations.Shares of Finolex Cables were up nearly 5% at Rs 88 after the company announced that it has received an order for optical fibre cable.