Sensex Ends 209 Points Up, Nifty Closes At 10,843; Dr Reddy's Rises Above 5%
- Major gainers on 30-share Sensex pack were Dr Reddy, SBI, Induslnd Bank, Hero Moto Corps and Adani Ports while losers include Bharti Airtel, Coal India, Tata Steel, ONGC, Axis Bank and YES Bank. Lupin, Dr Reddy, SBI, Induslnd Bank and Hindustan Unilever were leading the pack of Nifty gainers. While the main losers on NSE were Bharti Airtel, Hindalco, Eicher Motors and Coal India.
- Sentiment was also a bit cautious today before the release of May retail inflation data. Retail inflation is expected to have risen to a four-month high last month due to a surge in oil prices, a Reuters poll of economists showed.
- "Positive news flow in pharma is driving the sector higher after multiple years of under performance. IT services which is a large weight in the indices is also doing well on expectation of good earnings", said Viral Berawala, CIO, Essel Mutual Fund.
- Dr Reddy's Laboratories Ltd and Lupin Ltd led gains on the NSE index on Tuesday. Dr Reddy's rose as much as 5.37Â per cent to its highest since April 24, while Lupin climbed up to 6.38Â per cent to a more than 2-month high.
- The Nifty Pharma index rose 2.58 per cent to close at its highest in over one month.
- The index has gained 7.5 per cent so far this month after declining 9.3 percent in May.
- Strides Shasun Ltd climbed as much as 5.5 per cent after the drugmaker received final approval from the US Food and Drug Administration for its treatment of influenza symptoms.
- Videocon Industries Ltd fell as much as 5 per cent to a record low after the bankruptcy court initiated insolvency proceedings against the consumer electronics firm.
- Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 1,156.77 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,062.82 crore on Monday, provisional data showed.
- Overseas, Asian stocks traded mixed today as US President Donald Trump and North Korean leader Kim Jong Un met for the first time at a landmark summit in Singapore.
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