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Extreme stock market Optimism, Today’s top Gaining

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Strong earning optimism, easing crude oil prices, strengthening rupee, firm global cues and sustained capital inflow are major factors that picked up momentum in bourses, rising indices to record highs in the week ended Friday.

 The BSE Sensex surged 0.95% or 352 points to 37,337 and the NSE Nifty50 index rose 1 percent or 111 points to 11,278 led by rally in ITC after its strong profit in June quarter.

The benchmarks have surged over 5 percent thus far in July and are headed for the best monthly gain since two months as strong corporate earnings took the limelight.

Top Traded stocks on the NSE include IL&FS Transportation Networks, rising 16.15%, Rites Limited, up 15.89% and Shriram EPC Limited up 13.67% on NSE on Friday, reflecting strong bullish trend.

The other advancing stocks are namely Techno Electric & Engg Company, up10.98%, NACL Industries up10.36%, Inox Wind Ltd up 10.24%, Orient Refractories Ltd, up 9.52%, Prism Johnson Ltd up 9.13%, ITI Ltd up 8.93% and LT Foods Ltd up 8.22%.