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Last Updated : Jun 13, 2018 01:45 PM IST | Source: Moneycontrol.com

Sensex ends over 200 points higher, Nifty holds 10,800; pharma gains big

Financial names as well as energy stocks together contributed 35 points to index gains. Meanwhile, among index heavyweights, RIL was the biggest index gainer, while Airtel was the top loser.

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Steady global cues along with a good upmove in pharmaceuticals and banks ensured that the market closed at multi-month highs. The Nifty managed to hold 10,800 on the index.

The day began on a flat note, but a surge in pharmaceutical names later on, led by Dr Reddy’s, Lupin and Strides Shasun boosted pharma stocks. The Sensex gained over 200 points, while the Nifty also ended above 10,800.

Financial names as well as energy stocks together contributed 35 points to index gains. Meanwhile, among index heavyweights, RIL was the biggest index gainer, while Airtel was the top loser.

The Sensex is up 209.05 points or 0.59% at 35692.52, while the Nifty was up 55.90 points or 0.52% at 10842.90. The market breadth was positive as 1427 shares advanced, against a decline of 1207 shares, while 163 shares are unchanged.

Among sectoral indices, PSU banks, pharmaceuticals as well as FMCG names were the top gainers. Midcap index ended higher by around a percent.

Stocks in the news

Strides Shasun ended 4 percent higher as the firm received an approval from US FDA for flu tablets.

Manappuram Finance closed higher by around 2 percent as investors placed positive bets on the firm ahead of its Board Meeting to consider a fundraising.

Meanwhile, BGR Energy was locked in 20 percent upper circuit after the firm won orders worth Rs 431 crore.

Usha Martin touched 52-week high of Rs 33, rising 12 percent intraday before ending 6 percent higher as the company has decided to explore the sale of its steel business.

A consideration of buyback issue pushed up shares of DCM Shriram, which ended over 12 percent higher.

Global update

European markets hovered around flat terrain after US President Donald Trump signed a historic agreement with North Korean leader Kim Jong Un. Stoxx 600 was flat with most sectors trading into the black.

Meanwhile, Asian markets closed higher on the back of the landmark meeting between Trump and Kim Jong Un in Singapore. It is also positioning itself ahead of central bank meetings in this week. Nikkei 225 rose 0.33 percent, or 74.31 points, to close at 22,878.35.
First Published on Jun 12, 2018 04:46 pm
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