Auto,pharma stocks up; Tata M at high

Shares of auto,pharma cos were in limelight with Sun and Tata Motors surging to 52-wk high.

Shares of auto and pharmaceutical companies were in limelight today with Sun Pharma and Tata Motors surging to their 52-week high levels.

The BSE Auto index touched its 52-week high with auto stocks continuing their uptrend after RBI cut the interest rates on Tuesday,analysts said.

Tata Motors was the top performer with a 3.15 per cent gain. Shares of the company soared to a 52-week high of Rs 320 during the day and ended the session at Rs 319.35 apiece.

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Other blue-chip auto companies like Maruti Suzuki gained 2.92 per cent,Hero MotoCorp was up 2.42 per cent,Mahindra & Mahindra rose 2 per cent and Ashok Leyland climbed 1.66 per cent.

Following the surge in these stocks,the BSE Auto index settled 2.05 per cent higher at 10,744.73 and was the top performer among the 13 sectoral indices. During the day,the index surged to a one-year high of 10,786.6.

In the pharma space,winners include Fortis Healthcare that shot up 3.96 per cent,Wockhardt gained 3.9 per cent,Strides Arcolab jumped 3.38 per cent and Biocon went up by 2.68 per cent.

The country’s most valued drug maker Sun Pharma touched its 52-week high of Rs 607.30 today but later pared gains to end the session at Rs 598.35,up 0.30 per cent over its previous close.

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Gains in these stocks pushed the BSE Healthcare index to a 52-week high of 6,865 and it finally closed 1.18 per cent up at 6,854.52.

In the broader market,the BSE benchmark index Sensex was up 111.32 points to 17,503.71.