Nifty joins the global party; scales 52 week high of 6114.55.

NSE Building

The NSE Nifty crossed it’s previous 52 week high and touched 6114.55 during the two hour special trading held today before closing at 6107.25 with a net gain of 12.50 points or 0.21%. The BSE Sensex closed at 20122.32, up 39.70 points or 0.20%.

Pharmaceutical shares powered the Nifty from the opening bell.

Dr Reddy’s Labs led the pack with a leap of  3.95% to close at Rs Rs 2102.15. Lupin, Sun Pharma, Ranbaxy & Cipla gained between 1.22 to 3.53%.

Asian Paints, Coal India, Sesa Goa and J P Associates were other notable gainers in the Nifty pack.

However, IT and Auto stocks receded on profit taking. TCS, Infosys, Tata Motors and M&M slid between 0.25 t0 0.65%.

US stocks posted a third consecutive week of gains yesterday as a rise in Google and other technology shares offset a slide in energy stocks, with the Dow Jones Industrial Average and S&P 500 ending at record highs.