Cipla is up over 6 percent while Bharti, Sun Pharma, Hero and HDFC Bank are top gainers in the Sensex. Metals and IT stocks are seeing some but of profit booking. Among the losers are Sesa Sterlite, Tata Motors, HUL, Infosys and Wipro.
Telecom operators Bharti Airtel and Idea Cellular rallied more than 3.5 percent after sources told CNBC-TV18 that the government is considering super regulator for communication sector.
Cipla is up 3 percent followed by Hero, HDFC, Maruti and Tata Power. On the losing side are Dr Reddy's Labs, Infosys, Tata Motors, Wipro and HUL.
Experts have high hope that the Nifty may start trading in five digits before the next Union Budget gets announced. They feel the earnings may be doubled by end of FY20. However, the only risk they see is global cues.
ICICI Bank and LT are top contributors to the Nifty gain. Except FMCG, all sectoral indices ended trade in the green. Capital goods, realty, metals led trade today.
Hero MotoCorp, Maruti, LT, Cipla and Coal India are top gainers in the Sensex. Among the top losers are in the Sensex, Sun Pharma, Tata Motors, Sesa Sterlite, ITC and BHEL.
Two-wheeler maker Hero Motocorp too gained more than 3 percent ahead of August sales numbers. Engineering and construction major LT jumped 2.9 percent followed by Cipla, GAIL and Tata Power with 2 percent.
LT, Maruti, Hero MotoCorp, Cipla and Gail are top gainers in the Sensex. Among the losers are Tata MotoCorp, Sun Pharma, BHEL, ITC and HDFC.
The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices gaining a percent each. Advancing shares outnumbered declining ones by a ratio of 1379 to 501 on the Bombay Stock Exchange.
The Nifty has hit record high at 8000 just minutes after opening at new high. The 50-share index is up 50.15 points at 8004.50. The Sensex is up 169.79 points at 26807.90. About 824 shares have advanced, 188 shares declined, and 45 shares are unchanged.
Market participants turned to defensives this week as investors brace for safety ahead of SC verdict on coal allocation next week.
After the 3 percent gains in August series, the market is expected to maintain northward journey in September series as well with continuing resurgence in midcaps, believe experts, though they say the market is overpriced.
The Nifty closed above the 7950 on the expiry day for August derivative contracts, up 18.30 points at 7954.35. BHEL topped the buying list, up 4 percent followed by ITC, LT, ICICI Bank, ONGC, Wipro, MM, Dr Reddy's Labs and GAIL with 1-2 percent.
PSU banks continued to see selling pressure with the top lender State Bank of India falling 1 percent after sources say the Economic Offence Wing (EOW) Mumbai is probing role of public sector banks relating to the fixed deposit (FD) scam.
Shares of Tata Motors, ICICI Bank, LT, ONGC, HDFC, Sesa Sterlite, Reliance Industries, ITC and GAIL were top contributors to the Sensex, up 0.3-1.8 percent. However, Infosys, SBI, TCS, Sun Pharma, Cipla, NTPC, Tata Power and Tata Steel fell 0.4-1 percent.
With the strength from the recent volume data, Barclays raised volume growth estimates to 12.4 percent for FY15 and to 15.1 percent for FY16.
Though analysts are impressed by its earlier- than-expected launch, most of them have not yet upgraded Cipla yet. Credit Suisse maintains a neutral rating on it stating base case is already priced in. According to the brokerage, Germany and Sweden are small markets but the launch signifies approval in the UK could be expected by FY15-end.
World's largest two-wheeler maker Hero Motocorp sold 5,58,609 units of two-wheelers in August, registering growth of 21 percent over the corresponding month of previous year.
India's second largest commercial vehicle maker sold 8,331 units in August, increased from 7,139 units in a year-ago period. The month-on-month growth in sales was 6 percent.
The Royal Enfield maker sold 26,643 units in August compared to 16,062 units in same period last year supported by models with engine capacity upto 350cc as well as exceeding 350cc.
Government today said the under-recovery on high speed diesel (HSD) applicable for first fortnight of September effective today will go down to Rs 0.08 per litre. This was Rs 1.78 per litre during second fortnight of August 2014.
Here are few top buzzing stocks picked by CNBC-TV18's analysts in trade today. We have Hindalco, JSPL, Maruti Suzuki, Eicher Motors, Hero MotoCorp, IRB Infrastructure, Wockhardt, Sun TV, Mafatlal Industries, Elecon Engineering and ADF Foods.
Citi cites "expensive valuation, moderate return ratios and high leverage" .
Two drugs -- WCK 771 and WCK 2349 -- have received QIDP status, which allows fast-track review of the drug application by the US Food and Drug Administration (USFDA), Wockhardt said in a statement. This is the first instance of an Indian pharmaceutical company receiving QIDP status, it added.
India's largest car maker sold 1,10,776 lakh units in August, up 27 percent compared to 87,323 units in same period last year and up 9 percent compared to 1.01 lakh units in previous month.
"Marketing partner in the USA, Mylan Inc has filed an abbreviated new drug application (ANDA) for a three-times-a-week generic Copaxone (glatiramer acetate injection, 40 mg/ml) and has been accepted by the US Food and Drug Administration (US FDA)," said the company in its filing.
While Niftyâs upmove since May 12, 2014 is more than 14 percent, the midcap index has gained more 24 percent in the same period, outperforming the Nifty.
Engineering and project business unit of the company has bagged orders worth Rs 26.05 crore and 40.25 crore for transmission lines in Tamil Nadu and West Bengal from Power Grid Corporation of India (PGCIL) and West Bengal State Electricity Transmission Company, respectively
On August 28, 2014 Manphool Exports sold 13,00,000 shares of Essar Shipping at Rs 18.65 per share on the BSE.
GVK is setting up a 2x270 MW Thermal Power Plant at Goindwal Sahib tehsil in Tarn Taran district of Punjab, and both the units have been synchronised to the grid.