Markets at new high after WB rank leap

India leapfrogging on the World Bank's Ease of Doing Business rankings took stocks to dizzying heights on Wednesday as the Nifty closed above 10,400 for the first time and the Sensex shot up 387 points to a record. India improved its rank considerably as it went up 30 notches to the 100th place in the World Bank report, which was released on Tuesday. Eight core sectors provided more tailwind, which grew at a sixmonth high of 5.2 per cent in September. Positive leads from global markets came as a catalyst. That apart, better-than-estimated earnings by some more companies kept the risk-on sentiment alive. The buying interest was such that the broader 50-issue Nifty breached the 10,450-level intra-day for the first time. It closed at 10,440.50, a fresh life high, up 105.20 points -- 1.02 per cent, dismantling its previous record of 10,363.65 reached on October 30.

The beginning of the 30share BSE index was full of promise as the Sensex hit a new all-time intraday high of 33,651.52. In the end, it gave in to some profit taking activity and

settled at a new closing peak of 33,600.27, up 387.14 points, or 1.17 per cent. In the process, the barometer went past its previous closing record of 33,266.16, touched on October 30.

Reflecting the market's aggressive form, most sectoral indices ended in the green. Much of the charge came from buying in banking, realty, metal, FMCG and PSU counters. Traders said uninterrupted funds inflows into equities was at work too. Bharti Airtel led the gainers' pack, jumping over 8 per cent, even as the company logged a drop in earnings for July- September. SBI, ICICI Bank, HDFC Ltd and Axis Bank lent a hand.