The benchmark Sensex rose by 162
points to end at three-week high of 31,892.23 on buying in
auto, pharma and energy stocks despite a weak economic growth
data for June quarter.
The 30-share index stayed in the positive zone throughout
the session and hit a high of 31,944.10 before winding up
161.74 points, or 0.51 per cent, at 31,892.23, a level last
seen on August 8.
Also, the NSE Nifty ended 56.50 points, or 0.57 per cent
higher at 9,974.40 after shuttling between 9,983.45 and
9,909.85 during the day.
This week, the Sensex rose by 296.17 points, or 0.93 per
cent and the Nifty by 117.35 points, or 1.19 per cent --
recording their eighth weekly gain in nine.
Among the Sensex constituents, Dr Reddy's topped the
gainers list by climbing 9.75 per cent to Rs 2,217.35 after
Nasdaq-listed Vivus Inc yesterday entered into a
settlement agreement with the pharma major to resolve a long-
pending patent litigation related to weight management
Auto stocks, led by Ashok Leyland, Maruti Suzuki, Tata
Motors, Hero MotoCorp, Bajaj Auto, TVS Motors, Eicher Motor
and M&M rose up to 5.42 per cent largely on the back of
better-than-expected monthly sales figures for August.
Sentment got a boost on renewed hopes that the RBI policy
may announce a cut in rates at its next policy meet in
Otober to perk up growth, which fell to three-year low of 5.7
per cent during April-June, brokers said.
Creating new positions by investors following the
beginning of the September futures and options (F&O) series
lifted the key indices, they added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)