Mumbai: The BSE Sensex shot up by more than 176 points at 1330 hrs today on aggressive buying by funds as well as retail investors largely on expectations of good third quarter earnings by Reliance Industries.
The BSE-30 share Sensex flared up by 176.64 points to quote at an intra-day record high of 14,307.98.
Similarly, the wide-based National Stock Exchange's Nifty spurted by 63.35 points at 4,139.80.
Stock brokers said reports of firming trends at other Asian markets and hopes of strong earnings by trend-setter Reliance Industries buoyed the trading sentiment.
Reliance Industries would announce its third quarter results later today.
The company's stocks were centre of brisk activity ahead of results and traded Rs 30 higher at Rs 1,378.50.
Other index-related stocks too were in positive zone with sizeable gains.
Gainers were Infosys, ITC, Biocon, Shree Digvijay Cement, 3i Infotech, ONGC, Ranbaxy, ACC, Bajaj Auto, Bharti, BHEL, Wipro, Satyam, TCS, Tata Steel, SBI and SAIL.
However, ICICI Bank and HLL were red in the morning trade.
The Midcap Index hit all-time high; crosses previous high of 5,349.35.
Market cues:
- RIL, Ranbaxy, Siemens results today
- FIIs net buy USD 22.3 million in equity on January 16
- MFs net buy Rs 72 crore (Rs 720 million) in equity on January 16
- NSE F&O Open Interest up by Rs 1,571 crore (Rs 15.71 billion) at Rs 61,745 crore (Rs 617.45 billion)
With inputs from moneycontrol.com
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