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Sensex, Nifty Reverse Early Losses To Close Higher, Pharma Stocks Jump

Sensex rose 194 point, 0.59%, to close at 33,247 points. Nifty rose 59 points, or 0.58%, to close at 10,252 points.

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Sensex, Nifty Reverse Early Losses To Close Higher, Pharma Stocks Jump

Sensex, Nifty rose on Friday

Sensex rose 194 point, 0.59%, to close at 33,247 points. Nifty rose 59 points, or 0.58%, to close at 10,252 points. Pharma stocks rose. Dr Reddy's, Cipla and ITC were the major gainers in the range of 1.87% to 2.34%. TCS was the only major loser in the range of 2.62%.

Sensex traded between 33,321.5 points and 32,886 on Thursday, while Nifty traded between 10,230.65 and 10,141.55 points. Oil & gas stocks rose 0.99%, while the banking index rose by 0.67%. BSE consumer durables index fell by 0.61%.

Sensex rose 194 point, 0.59%, to close at 33,247 points. Nifty rose 59 points, or 0.58%, to close at 10,252 points. Pharma stocks rose. Dr Reddy's, Cipla and ITC were the major gainers in the range of 1.87% to 2.34%. TCS was the only major loser in the range of 2.62%.

Sensex traded between 33,321.5 points and 32,886, while Nifty traded between 10,230.65 and 10,141.55 points. Oil & gas stocks rose 0.99%, while the banking index rose by 0.67%. BSE consumer durables index fell by 0.61%.

Early in the day, the market benchmarks were trading lower as investors waited for early forecasts on the winner of Gujarat election, with sentiment also muted as inflation ticked higher and industrial output weakened. Bonds and the rupee, however, rose after the U.S. Federal Reserve raised interest rates. Votes will be counted on December 18 but markets were cautious ahead of exit polls results due later today. At 1:30 pm, the Sensex was up nearly 20 points at 33,071 while Nifty was flat at 10,193 while the broader NSE Nifty was down 0.23 per cent at 10,170.22, while the benchmark BSE Sensex was 0.22 per cent lower at 32,981.10.

"The markets will react to the Fed hike news, but investors are jittery ahead of the exit polls from Gujarat elections," said Siddhartha Khemka, head of research (retail) at Motilal Oswal Securities.

 

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