The S&P BSE Sensex was trading at 31,190, up 162 points, while the broader Nifty50 was ruling at 9,630, up 35 points.
In intraday trade, the 30-share Sensex rallied 186 points to hit its all-time high of 31,214, while the broader 50-share Nifty gained 42 points to touch its lifetime high of 9,637.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices snapped two-session long rally to lose 0.5% and 1%, respectively.
The breadth, indicating the overall health of the market, was weak. On the BSE, 1,569 shares declined and 865 shares rose. A total of 149 shares were unchanged.
Healthcare stocks were the biggest drag on the index, after Sun Pharmaceutical Industries fell as much as 13.2% to a near four-year low after the company on Friday reported a 14% fall in March-quarter profit.
The company said its US sales may fall this year on lower drug prices.
Shares of Reliance Anil Dhirubhai Ambani Group (ADAG) companies came under severe pressure, falling by up to 24% on BSE in intra-day trade on concerns whether the group would be able to repay the high debt to banks and poor March-quarter results.
Reacting to poor Q4 results, the stock of RCom tanked nearly 24% to Rs 19.70, also its record low on the BSE. Reliance Infrastructure, Reliance Capital, Reliance Power and Reliance Defence, the other ADAG group stocks, too have fallen in the range of 4% to 8% on BSE.
Japan's Nikkei edged up 0.1% while weaker commodities pushed down Australian shares 0.5%. The closure of Chinese, British and US markets on Monday deprived investors of potential catalysts and kept overall trading subdued.
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The S&P BSE Sensex was trading at 31,190, up 162 points, while the broader Nifty50 was ruling at 9,630, up 35 points.
CapitalStars Giving 2 Days Free Trial Calls..... Hurry Up
CapitalStars Financial Research Financial Advisory Services
www.capitalstars.com |T:+91-731-6790000,666990
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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