Nifty hits 4,000 in late-trading

The S&P CNX Nifty pierced the 4,000 mark at the fag end of trading. The BSE Sensex surged over 150 points due to buying in auto scrips, PSU banks and index heavyweight Reliance Industries.

A smooth rollover from November contracts on Thursday to December series coupled with robust GDP growth data released during trading hours on Thursday, provided support on a day when Asian markets traded mixed.

The Sensex’s provisional closing was 13,853.81, a gain of 157.50 points. The barometer index struck a new record of 13,857.81 at 15:01 IST.

The Nifty had gained 43.20 points (1%), to 3,997.70, as per the provisional closing. It also climbed to a record high of 4,001.30.

The BSE clocked a turnover of Rs 4,451 crore.

Ranbaxy Laboratories surged nearly 4% to Rs 385.60, with the stock rallying in late trading after the company announced the acquisition of Be-Tabs Pharmaceuticals, the fifth largest generics company in South Africa, for $70 million.

Auto shares dominated the proceedings on decent-to-strong sales numbers for November. Bajaj Auto rose 4% to Rs 2,751 after its total sales rose 33% in November 2006, to 2,43,713 units from a year ago. Bike sales rose 36% to 2,14,321 units and sales of three-wheelers were up 71% at 29,384 units. Exports rose 56% to 36,086.

Hero Honda rose nearly 2% to Rs 757.35. Hero Honda today launched two variants of its CD series motorcycles, CD Deluxe and CD Dawn, in the 100-cc, entry-level segment.

Tata Motors surged 4% to Rs 844.25, on expectations of strong sales for November 2006. Tata Motors is likely to disclose its monthly sales figures today.

Car major Maruti Udyog added nearly 3% to Rs 952.60. In early-trade today, the car major reported selling 55,033 vehicles in November, a 16.1% rise from a year earlier. The company said domestic sales rose an annual 20.7%, to 52,574, but exports fell 35.7% to 2,459 units.

PSU banks were in demand after the latest data showed lower-than- expected rise in inflation. SBI was jumped 4% to Rs 1,369.90. The stock hit Rs 1,370, which is a life high for the scrip.

Cellular services provider Reliance Communications rose 3.7% to Rs 445.25. The scrip struck Rs 446.90, an all-time high. A staggering 16.8 lakh shares changed hands in the counter on BSE.

Reliance Energy gained 2.2% to Rs 540.05. As per reports, Maharashtra Electricity Regulation Commission has directed the company to discontinue levy of load management charges.

Reliance Industries gained 1.3% to Rs 1,262.25. A strong 7.4 lakh shares changed hands in the counter.