Equity benchmark indices have erased all early losses and have gained strong momentum in the morning trade. ICICI Bank
, HUL, Asian Paints
and HDFC are among the top contributors to the Sensex gain.
The Sensex is trading 225 points higher at 39,961, and the Nifty is trading 81 points up at 11,742.
The Nifty Pharma index gained 1% led by gains in Biocon
, Aurobindo Pharma, Lupin
, Divis Lab and Dr Reddy’s, which are up in the range of 2-3% respectively.
Shares of Cadila
are slightly down on the Nifty pharma index. Zydus Cadila has received the approval from the Drug Controller General of India (DCGI) for use of Saroglitazar Mg in the treatment of Type II Diabetes Mellitus as an add on therapy with Metformin. Read more
Shares of Cadila, Cipla, Piramal and Glenmark are also up in the pharma index.
The Nifty Media index also gained by 2% at 1,784.65 led by Sun TV
, Zee, PVR and Dish TV.
From the metal space, the index is up at 2,504.35 levels. Coal India
gained 3% after the company on Saturday said it produced 451.52 million tonnes of coal in April-January period of the ongoing fiscal, a decline of 3.8% vs. 469.65 million tonnes (MT) of coal in the year-ago period.
Shares of Welspun Corp, NMDC, Jindal Steel and JSW Steel were also up in today’s trade.
The most active stocks on the NSE are HUL, Asian Paints, Nestle and Britannia.
Meanwhile, the Markit India Manufacturing Purchasing Managers’ Index rose to 55.3 in December from 52.7 in November.