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Sensex extends gain to over 200 points, Nifty above 10,600; Sun Pharma up 4%

The market started off second week of the new year at record high levels on Monday as the Nifty crossed 10,600-mark for the first time, tracking positive lead from global peers.

The 30-share BSE Sensex was up 163.36 points at 34,317.21 and the 50-share NSE Nifty rose 46.90 points to 10,605.80.

About 1,255 shares advanced against 273 declining shares on the BSE.Nifty Midcap index was up 0.6 percent.

Sun Pharma, Yes Bank, GAIL, L&T, Infosys, Lupin, HPCL and BPCL were early gainers, rising 1-2 percent while Bharti Airtel fell nearly 4 percent.

Asian markets were higher, following the positive lead from Wall Street in last session. Japan's Nikkei gained 0.9 percent, followed by China's Shanghai Composite (up 0.35 percent) and South Korea's Kospi (0.66 percent).

Shares of Larsen and Toubro (L&T) touched 52-week high of Rs 1,330.10, rising more than 1 percent in early trade as it has won orders worth Rs 2,265 crore.

The rupee strengthened by 8 paise to trade at 63.28 against the US dollar in opening session today on selling of the greenback by exporters and banks amid gains in stocks which scaled record levels.

Currency dealers said continued foreign fund inflows and weakness in the greenback against other currencies overseas supported the rupee.

Furthermore, a higher opening in the domestic equity market gave the uptrend some momentum, they added.

On Friday, the rupee ended at a 32-month high of 63.37, up 4 paise on steady unwinding of the American currency by exporters.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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