Sensex rallies 320 pts; Ultratech jumps 5 pc

Mumbai, Jan 2 () Market benchmark Sensex rallied over 320 points while the Nifty ended at its fresh lifetime high on Thursday, led by index-heavyweights Reliance Industries and HDFC twins as global markets logged robust gains.

The 30-share BSE index ended 320.62 points, or 0.78 per cent, higher at 41,626.64. It hit an intra-day high of 41,649.29.

Similarly, the broader NSE Nifty closed 99.70 points, or 0.82 per cent, up at 12,282.20 -- its all-time high.

Ultratech Cement was the top gainer in the Sensex pack, surging 4.37 per cent, followed by Tata Steel, IndusInd Bank, L&T, Reliance Industries, SBI, HDFC, HDFC Bank, Axis Bank, ONGC and ITC.

On the other hand, Bajaj Auto, TCS, Infosys, NTPC, Nestle India, Kotak Bank and Hero MotoCorp fell up to 0.89 per cent.

Traders said domestic investors followed Asian equities which rallied on Chinese central bank's fresh stimulus for the country's slowing economy.

Bourses in Shanghai and Hong Kong spurted up to 1.25 per cent, while Seoul ended in the red.

Stock exchanges in Europe also opened significantly higher.

On the currency front, the rupee depreciated 11 paise against the US dollar to 71.33 (intra-day).

Brent futures, the global oil benchmark, advanced 0.42 per cent to USD 66.28 per barrel. ANS ABM