MARKET IS AT ALL TIMES HIGH,Sensex gained as much as 1.5%,ONGC jumps as much as 11.5%

Energy shares surge on optimism Prime Minister Modi will take a decision on raising natural gas prices by month end

The 30-share benchmark S&P BSE Sensex and 50-share CNX Nifty touched all-time highs on Friday as energy shares surged on optimism Prime Minister Narendra Modi will take a decision on raising natural gas prices by the end of this month.

At 3.06pm, the Sensex gained as much as 1.5%, or 376 points, to 25,395.81, while the Nifty rose as much as 1.5%, or 109.5 points, to 7,583.60 points, all time highs for both indices.

Among gainers, Oil and Natural Gas Corp. Ltd (ONGC) as much as 11.5% toRs.467.95, GAIL India Ltd rose 7.62% to Rs.420.75, while Reliance Industries Ltd (RIL) jumped 2.95% to Rs.1,119.70 after reports that government will take a decision on revising natural gas prices by 1 July,

Among losers, Sesa Sterlite Ltd fell 2.64% to Rs.306.15, Infosys Ltd shed 1.33% to Rs.2,997.50 after Prasad Thrikutam, global head of strategic sales, marketing and alliances and one of the highest paid executives at the company, resigned.

The S&P BSE Realty and S&P BSE Oil and Gas indices were the top sectoral gainers, up 5.10% and 4.53%, respectively.

Strides Arcolab Ltd was trading at Rs.598 on BSE, up 9.23% after it said in a BSE notice that it received US FDA approval for Methoxsalen Softgel Capsules.

Shares of oil marketing companies were trading higher on the reports of hike in prices of kerosene and LPG. Bharat Petroleum  Corp. Ltd (BPCL) rose 1.94%, Hindustan Petroleum Corp. Ltd (HPCL) up 1.94% and Indian Oil Corp. Ltd (IOC) jumped 1.66%.

Shares of sugar companies were trading higher after reports says that government is planning to increase export subsidy. Bajaj Hindusthan Ltdwas trading up 10%, Shree Renuka Sugars Ltd was up 13.26%, Dhampur Sugar Mills Ltd was trading up 14.95%, Balrampur Chini Mills Ltd jumped 8.4%, Triveni Engineering and Industries Ltd rose 10%.

Shares of realty were trading higher. Sobha Developers Ltd was trading up 9.75%, Mahindra Lifespace Developers Ltd rose 4.35%, DLF Ltd jumped 5.94%, Anant Raj Ltd up 7.65%, Phoenix Mills Ltd rose 6.07%, Housing Development and Infrastructure Ltd soared 3.35%, Unitech Ltd jumped 4.93%, Godrej Property Ltd rose 2.71% and Prestige Estates Projects Ltdadded 5.8%.

Hindustan Zinc Ltd was trading at Rs.173.25 on BSE, up 2.85% from its previous close, after the government has decided to undertake fresh valuation and assessment of fair share value of Hindustan Zinc. The department of disinvestment has sought proposals from merchant bankers in handling valuation of Hindustan Zinc. The bids are sought through advertisement in newspapers on Friday