Market Update: Nifty Pharma gains led by Cipla, Divi's Labs; Zee Entertainment up 2%, DHFL most active

The Indian equity market was trading flat on Wednesday morning with the Nifty marginally down and was trading at 10,548 while the Sensex was down 7 points.

Nifty Realty was up close to 1 percent led by Godrej Properties which jumped 3 percent followed by Phoenix Mills which added 3 percent while Indiabulls Real Estate which was up 1 percent. Unitech and Sobha were the other gainers.

CNX Pharma was also trading in the green led by Cipla which gained 2 percent followed by Divi's Labs, Glenmark Pharma, Sun Pharmaceutical Industries and Aurobindo Pharma.

The top Nifty gainers included Zee Entertainment Enterprises which jumped 2 percent while Cipla from the pharma space was also up 2  percent. GAIL India, Wipro and Yes Bank were the other gainers, adding over 1 percent each.

The most active Nifty stocks included Dewan Housing Finance which was up close to 2 percent while ICICI Bank, Vedanta and  Infosys were the other active stocks.

The top Nifty losers were Bharat Petroleum Corporation and Indian Oil Corporation which shed 1 percent each followed by Mahindra & Mahindra, Kotak Mahindra Bank and Titan Company.

The top BSE gainers included United Breweries which was up 3 percent followed by Hexaware Technologies, Zee Entertainment, Indiabulls Ventures and Godrej Properties.

30 stocks hit fresh 52-week high including Cholamandalam Investment, Divis Labs, Hindustan Unilever, M&M Financial, Mindtree, Nestle India and Pidilite Industries among others.

The market breadth was in favour of the advances with 900 stocks advancing while 658 declined and 471 remained unchanged. On the other hand, in the BSE, 988 stocks advanced and 705 declined and 89 remained unchanged.