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Sensex up 873 pts at 53,823; Nifty near 16,150; BSE m-cap tops Rs 240 trn

Amid a steep rally, investors got richer by Rs 2.4 trillion, BSE data showed

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SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

MARKETS: Sensex soars 900 pts, Nifty eyes 16,150; BSE m-cap hits Rs 240 trn
Stock market updates: Benchmark indices came out of their long slumber and recorded their sharpest intra-day gains since May 21 as better-than-expected June quarter performance by India Inc restored investor confidence in faster-than-expected economic recovery. Amid a steep rally, investors got richer by Rs 2.37 trillion, BSE data showed.

At the headline level, the BSE barometer of 30-shares zoomed 937 points in the intra-day deals and hit a record high level of 53,888 on the BSE, led by Titan Company (up 4 per cent), HDFC, IndusInd Bank, Sun Pharma, SBI, and Nestle India. It pared gains marginally and ended at 53,823 levels, up 873 points or 1.65 per cent.

The broader Nifty50, meanwhile, hit new peak of 16,147 on the NSE. It ended with 246 points, or 1.55 per cent, gains at 16,131 levels.

The broader indices -- BSE MidCap and SmallCap -- also hit their respective record high peaks of 23,443 and 27,232 levels in the intra-day deals. They, however, ended up to 0.2 per cent higher each.

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