Bombay Stocks Rally Again

The Sensex hits a high for the second day in a row.
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Bombay stocks jumped again Thursday, rising more than 1% a day after they set an all-time high.

The BSE Sensex added 123 points to close at 11,307 after earlier trading as high as 11,339.

Drug maker

Ranbaxy

surged 10% on its purchase of Belgian generic drug maker Ethimed. On Wednesday Ranbaxy bought Romanian generics major Terapia.

Other leading gainers were cellular operator

Bharti Tele

, up 5.3%, and IT firm

Wipro

(WIT) - Get Report

, up 3.9%.

Construction and engineering firm

L&T

added 1.5%, while cement major

ACC

rose 0.6%. Motorcycle manufacturer

Hero Honda

gained 1.2% and automobile major

Tata Motors

inched ahead by 0.4%.

The top loser on the BSE Sensex was

State Bank of India

, which shed 1.9%.

National Thermal Power

fell 1.6% and

ICICI Bank

was down 1%.

National Aluminium

gained 2.2%, and

ITC

advanced 2.7% on plans to develop a shopping complex in Ujjain.

ONGC

rose 3.5% on reports that the oil major is eyeing

Hindustan Petroleum's

17% stake in

Mangalore Refinery & Petrochemicals

.

This story was created through a joint venture between TheStreet.com and IRIS.