Surge in the stock market continues

The stock market closed higher on the first trading day of the week. The Sensex was up 172 points and the Nifty 56 points.

The Sensex closed at 38,212 points on August 10. The Sensex had gained over 38,430 points during trading. The Nifty closed at 11,270. It had touched 11,337 points during the trade. Profit booking did not allow the Nifty to remain above 11,300.

Pharma stocks were the main gainers on the day. Cipla’s quarterly results released on August 7 led to a rise in pharma stocks. Shares of Cipla rose 9.5 per cent on August 10.

Similarly, Nifty rose by 5.5 per cent on the day. Shares of Divis Lab, Cipla, Lupine, Sun Pharma, Aurobindo Pharma and Dr Reddy’s Lab all hit 52-week highs on August 10.

Automobile stocks also gained today. Cipla, Mahindra & Mahindra, L&T, Tata Motors and Sun Pharma were the top five gainers in the Nifty. Mahindra & Mahindra hit a 52-week high.

The top five losers in the Nifty were Eicher Motors, Asian Paints, Maruti, BPCL and Reliance Industries. Eicher Motors lost 2.19 per cent and Asian Paints 1.23 per cent.