Market Update: Pharma stocks rally with Sun Pharma, Lupin up 2%; Infosys, D-Mart hit fresh 52-week high

The broader indices continued to trade higher this Wednesday morning with the Nifty gaining 35 points at 10,878 and the Sensex added 134 points at 35,826.

The midcap index was up over half a percent led by Mcleod Russel, Strides Shasun, Biocon and Bank of India.

Pharma stocks gained the most led by Sun Pharmaceutical Industries, Cadila Healthcare, Dr Reddy’s Labs, Lupin, Aurobindo Pharma and Glenmark Pharma.

Nifty IT was trading in the green led by Tata Consultancy Services, Infosys, Tata Elxsi, HCL Technologies, KPIT Tech and Wipro.

Nifty infra was up in the morning trade led by Interglobe Aviation, Bharat Heavy Electricals, Reliance Communications and PTC India.

Bank Nifty was marginally trading in the positive territory helped by gains from ICICI Bank, HDFC Bank and IndusInd Bank.

The top gainers among Nifty constituents were Sun Pharma, Dr Reddy’s Labs, Lupin, Titan Company and Tata Consultancy Services.

The most actively traded stocks on the NSE were Sun Pharma, Indiabulls Housing Finance, TCS, Lupin and State Bank of India.

Some of the top gainers on BSE were Redington India, Delta Corp, Sun Pharma Advanced, Vakrangee and RBL Bank.

Avenue Supermarts, GSK Pharma, Infosys, Quess Corp and Tata Elxsi were the few stocks that hit fresh 52-week highs in the morning trade.

On the other hand, 25 stocks hit a new 52-week low. These include Kwality and Videocon Industries among others.

The breadth of the market favoured advances, with 1012 stocks advancing, 524 declining and 509 remaining unchanged. On BSE, 1089 stocks advanced, 482 declined and 58 remained unchanged.

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