Indian Equity Indices At New Highs

Mumbai: Positive Asian indices, along with healthy buying in healthcare stocks, lifted the key Indian equity indices to trade at new high levels during the mid-morning session on Wednesday.

According to market observers, a surge in the stocks of healthcare majors like Sun Pharma and Dr. Reddy's Lab added to the upward rally of the key equity indices. At 11.30 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 4.60 points or 0.04 per cent at a fresh level of 10,536.10 points. The NSE Nifty50 touched a new high of 10,548.20 points on an intra-day basis.

The barometer 30-scrip Sensitive Index (Sensex), which crossed the 34,000-level for the first time on Tuesday, traded at 34,077.06 points -- up 66.45 points or 0.20 per cent -- from its previous close. The Sensex touched a fresh high of 34,123.14 points on an intra-day basis. The BSE market breadth was bullish as 1,466 stocks advanced as compared to 1,036 declines.

"BSE Sensex opened higher than yesterday's (Tuesday's) session. ONGC stocks were in focus as crude prices rose sharply," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS. "RCOM continued to gain post the debt recast plan announced on Tuesday.

Pharma sector gained in line with some positive news for Sun Pharma and Glenmark getting approvals from US Food and Drug Administration," he added. On Tuesday, the Sensex closed at 34,010.61 points. It scaled a high of 34,061.88 points intra-day. The Nifty50 closed higher by 38.50 points or 0.37 per cent at a fresh level of 10,531.50 points after it touched a high of 10,545.45 points intra-day.

IANS