Tech Mahindra and HCL Technologies topped the buying list in the Nifty, up 3.66 percent and 3 percent, respectively followed by Hindalco Industries, State Bank of India, PNB, Infosys, HDFC Bank and Axis Bank with 1-2.6 percent.
Hindalco and SBI are still top gainers, followed by Infosys, TCS and HDFC Bank. Coal India, HDFC, Bharti Airtel, Dr Reddy's Labs and Bajaj Auto are among laggards.
Bajaj Hindusthan, Balrampur Chini, Dwarikesh Sugar, Dhampur Sugar, Shree Renuka Sugars, Simbhaoli Sugar and Triveni Engineering rallied 4-6 percent after the government raised sugar import duty to 25 percent from 15 percent.
The market is still celebrating with new record highs. The Sensex is up 124.22 points or at 26484.33 and the Nifty is up 33.65 points at 7924.75. About 1403 shares have advanced, 1071 shares declined, and 80 shares are unchanged.
United Spirits dropped nearly 4 percent as the National Stock Exchange has decided on Thursday to remove the stock from Futures and Options segment with effect from September 19. Earlier the exchange also decided to remove the stock from CNX Nifty from same day.
Axis Bank, TCS, HDFC Bank, Hero Motocorp and Tata Power are top gainers in the Sensex. Among the losers are Sun Pharma, MM and Bharti Airtel.
Bank Nifty rallied more than a percent. Punjab National Bank topped the buying list among largecap banks, up nearly 4 percent followed by State Bank of India and Bank of Baroda with over 2 percent. HDFC Bank and Axis Bank rose over a percent but rival ICICI Bank closed flat.
Autos and banks kept the uptrend intact. Bajaj Auto, SBI, MM, Sun Pharma and HDFC Bank were top gainers in the Sensex. Among the losers were NTPC, Sesa Sterlite, Tata Steel, Dr Reddy's Labs and Hindalco.
Asian markets trade under pressure after China manufacturing PMI dropped to a 3-month low. European markets, however, opened with a slight positive bias as investors await positive cues from the Jackson Hole meet.
The BSE Midcap and Smallcap indices jumped 0.7 percent each. Advancing shares outnumbered declining ones by a ratio of 1581 to 1011 on the Bombay Stock Exchange.
Bajaj Auto, SBI, Axis Bank, MM and GAIL are top gainers in the Sensex. Among the losers are Dr Reddy's Labs, Hero MotoCorp, Sesa Sterlite and HDFC.
Shares of State Bank of India, ONGC, Axis Bank, Bajaj Auto and GAIL were prominent gainers followed by TCS, LT, HDFC Bank, Reliance Industries, Tata Motors, Maruti Suzuki, and Mahindra and Mahindra with 0.4-0.7 percent.
Tata Motors, TCS, Tata Power, ITC and MM are top gainers while Sesa Sterlite, Tata Steel, Cipla, Hero MotoCorp and Bharti Airtel are among the laggards in the Sensex.
State-run ONGC was the top loser among largecaps, down 2.8 percent followed by ITC, Reliance Industries, Tata Motors, Larsen and Toubro, HDFC, State Bank of India, Axis Bank and Mahindra and Mahindra with 1-1.5 percent.
ONGC topped the selling list, down 2.6 percent followed by HDFC with 1.8 percent. ITC, Tata Motors, Reliance Industries, Larsen and Toubro, State Bank of India, Mahindra and Mahindra, HUL and Axis Bank declined 0.6-1 percent.
The company has entered into a joint venture with BigBasket.com, India's largest online food and grocery store for the launch of its branded range of spices - Saaz, said the company in its filing.
The water and renewable energy business of LT construction, the brand of LT, has secured new orders worth Rs 1,283 crore in July and August.
Here are few top buzzing stocks picked by CNBC-TV18's analysts in trade today. We have Shree Renuka, Balrampur Chini, Bajaj Hindustan, Hitachi Home, United Spirits, Nectar Life, Sun Pharma, Ranbaxy and Bank Nifty.
Gammon India, the promoter company, said the board of directors of the company has approved sale of 5,28,000,000 equity shares (representing 71.93 percent stake) held by the company in its subsidiary Gammon Infrastructure Projects to its another subsidiary Gammon Power. The transaction is subject to all the necessary approvals.
In a bid to provide relief to the sugar industry, the government on Friday decided to increase import duty on the sweetener from 15 percent to 25 percent. The industry which owes Rs 15,000 crore to sugarcane growers, has been demanding an increase of 40 percent.
Not only today but also it fell in previous session, down more than 2 percent after the exchange said it will remove the scrip of liquor maker from CNX Nifty, CNX 100, CNX 200, CNX 500, CNX FMCG, CNX Consumption, LIX 15 and NI15 indices.
Arvind said its subsidiary Arvind Lifestyle Brands has entered into an agreement with San Francisco-based company Gap Inc., to open Gap stores in India.
Merrill Lynch Capital Markets Espana S.A. SVB bought 2,31,769 shares of Welspun Project.
CNBC-TV18's Varinder Bansal lists some of the key stocks which were buzzing in trade today.
The ministry of environment and forests has given environment clearance to the subsidiary of Vedanta Resources to raise crude oil production from its prolific Rajasthan block by 50 percent to 300,000 barrels per day.
The engineering and construction major's brand LT Construction received orders worth Rs 1,832 crore in July and August.
B Thiagarajan, ED, Blue Star says the air conditioners market is set for an explosive growth over the next five years.
Notwithstanding the near-term concerns, the brokerage believes that the Indian food services is a structural growth story. Jubilant (the master franchisee of Dominos Pizza) should be a key beneficiary of a gradual improvement in consumer sentiments driving up discretionary consumption, it adds.
The brokerage maintains underweight rating on the mobile life solutions provider, saying it cut FY15/16/17 revenue estimates by 24 percent, 11 percent and 8 percent, respectively, and reduced projected EBITDA margins by 9.8 percent, 5.28 percent and 5.79 percent over the period.
The subsidiary of Arvind is expected to open 50 stores of this brand from the beginning of 2015. The US company, at the end of August 2 (2014), operated 1,113 stores in the United States, Canada and Puerto Rico.