Markets close marginally higher amid volatility; Pharma stocks outperform

11 Mar 2022 , 03:35 PM

Equity benchmark indices closed higher in a volatile trading session as auto stocks logged profit booking and settled in the red. The benchmark BSE Sensex gained 85 points or 0.15% to close at 55,550; while the broader NSE Nifty moved 35 points or 0.21% higher to settle at 16,630. Both the indexes swung between gains and losses before settling in green.

As the Russian-Ukraine war is keeping oil prices voatile and elevated, the investors bet cautiously during the whole trading session. 

Among sectors, pharma index advanced over 2% followed by metal and Oil & Gas indices rose 0.5% each. Also, Sun Pharma and Cipla hit fresh 52-week highs today.

The overall market breadth stood strong as 2,004 shares advanced while 1,257 shares declined on the BSE.

Cipla, Sun Pharma, BPCL, JSW Steel, IOC were the major gainers on the nifty50, whereas Nestle India, Maruti, Tata Consumer, NTPC and Britannia settled in the red.