India’s Sensex Index Rises to Seven-Week High; Sun Pharma Leads
March 11, 2010, 5:09 AM ESTBy Ambika Jindal
March 11 (Bloomberg) -- Indian stocks rose to a seven-week high, amid optimism economic growth will spur company earnings.
Sun Pharmaceutical Industries Ltd., India biggest drugmaker by market value, gained 3.1 percent. Emkay Global Financial Services Ltd. rated the stock as “hold” in new coverage. Wipro Ltd., the nation’s third-biggest software services provider, advanced 2.3 percent.
The Bombay Stock Exchange’s Sensitive Index, or Sensex, added 109.28, or 0.6 percent, to 17,207.61, according to preliminary closing prices. Most of the gain came in the last 15 minutes of trading. The S&P CNX Nifty Index on the National Stock Exchange added 0.6 percent to 5,147.60. The BSE 200 Index climbed 0.4 percent to 2,162.73.
--Editor: Margo Towie.
To contact the reporter on this story: Ambika Jindal in Mumbai at ajindal1@bloomberg.net
To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net
