Sensex, Nifty At New Highs On Fed Led Optimism

Indian shares opened on a positive note Monday after a big miss on U.S. jobs creation last month fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus.

The benchmark 30-share BSE Sensex was up 252 points, or 0.4 percent, at 58,381 after having breached 58,500 for the first time. The broader NSE Nifty index was up 65 points, or 0.4 percent, at 17,389.

Heavyweight Reliance Industries rallied 3 percent to hit a new high.

Hero MotoCorp gained 0.6 percent. The two-wheeler major said it has expanded its network for Harley-Davidson bike.

Dr Reddy’s Laparotomies edged down slightly after it agreed to sell all rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets to Citius Pharmaceuticals Inc.

Ashoka Buildcon jumped 4 percent as it bagged a contract worth ?1,567.45 crore for upgrading a part of the national highway NH-19 in West Bengal.

M&M Financial Services climbed 2.4 percent after its total disbursement in August rose 57 percent year-on-year.

Engineers India soared 3.3 percent after it bagged an order worth Rs 1,039 crore from Chennai Petroleum Corporation.

HFCL advanced 1.7 percent on fundraising reports.

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