Shares have started on a good note, with the Sensex rising over 100 point, while the Nifty is well above 10,850-mark.
All sectoral indices are trading in the green, with sharp gains seen in pharmaceuticals, IT and PSU banking space. The midcap index is trading higher by almost half a percent.
The Sensex is up 144.22 points or 0.40% at 35836.74, while the Nifty is up 31.10 points or 0.29% at 10874.00. The market breadth is positive as 314 shares advanced, against a decline of 144 shares, while 46 shares were unchanged.
Shares of Sun Pharma and TCS are the top gainers, while Airtel, Kotak Mahindra, and Zee Entertainment are the top losers.
Equity benchmarks have given up almost all of their gains from first few minutes. The Nifty is hovering around 10,850-mark. Gains are visible among frontline IT, pharma and PSU banking names while metals and infra see some weakness. The Midcap index has also shaved off some part of its gains.
Dr Reddy’s Labs and Lupin are among the top gainers, while Bharti Airtel, Tata Steel and Indiabulls Housing were the top losers. Among other stocks, Sun Pharma is up 3 percent after it received an establishment inspection report from US FDA for its Halol plant, while TCS is trading higher by 2 percent after it said a buyback proposal is on the cards. Page Industries, too, gained 3 percent after it said that its licensing agreement with Jockey International was extended to December 31, 2040.
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