The Indian stock market is trading in the green a day after the equity market witnessed the largest single day decline since February 1.
Sensex is up 47.71 points or 0.12 percent at 40410.94, and the Nifty added 9.90 points at 11839.30.
Nifty FMCG is the outperforming sector, up half a percent led by Hindustan Unilever and Emami which gained 2 percent followed by United Breweries, Tata Global Beverage, Dabur India and Britannia Industries.
Hindustan Unilever said it will set up a new step-down subsidiary with an authorised share capital of Rs 2,000 crore. The company's board has approved a proposal to set up the subsidiary, it said in a statement.
Pharma stocks remained under pressure with the index down over 1.5 percent. The top losers included Biocon which shed over 3 percent after the detailed observations issued for Bengaluru unit by the US health regulator.
The other losers were Divis Labs, Dr Reddy's Labs, Glenmark Pharma, Sun Pharma and Piramal Enterprises.
Ajit Mishra, VP Research at Religare Broking has a sell on Sun Pharmaceutical Industries March Futures with target at Rs 375 and stop loss at Rs 420. Sun Pharma has been trading in a broader range of Rs 360-450 levels for the last nine months or so. It is gradually inching lower after retesting the upper band of late and indications are in the favour of further fall ahead, he said.
Shares of HDFC Life Insurance Company, Bandhan Bank and Info Edge rallied around 4 percent each intraday on February 25 after inclusion in NSE futures & options segment.
The National Stock Exchanges in its circular on February 24 said these abovementioned stocks would be included in the derivative segment with effect from February 28, the first day of March series.
India VIX fell 2.53 percent and was trading at 16.57 level.
The top gainers from Nifty are JSW Steel, Zee Entertainment, Coal India, Hindustan Unilever and Tata Steel while the top losers included HCL Tech, Eicher Motors, Sun Pharma, Dr Reddy's Labs and Cipla.
The most active stocks included Reliance Industries, State Bank of India, Indiabulls Housing Finance, IRCTC, and Tata Motors.
49 stocks hit new 52-week high on BSE including Shilpa Medicare, IRCTC, Mindtree, Muthoot Finance, Inox Leisure, JK Cement and Trent among others.
148 stocks hit 52-week low on BSE including Future Consumer, DCB Bank, Future Lifestyle, Karur Vysya Bank, Allahabad Bank, HPCL, Larsen & Toubro, Canara Bank and Syndicate Bank among others.
About 935 shares have advanced, 1051 shares declined, and 112 shares are unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.