Nifty Pharma index was up 0.75 per cent led by gains in Cadila Healthcare, Lupin and Cipla. While Nifty Metal index was down half a per cent dragged by Tata Steel, Ratnamani Metals & Tubes and Welspun Corp.
Headline indices BSE Sensex and Nifty 50 were trading a tad higher in Wednesday’s volatile trade on the back of positive Asian markets. S&P BSE Sensex was up 166 points or 0.50 per cent to trade at 34,122, while the broader Nifty 50 index was hovering around 10,050. Index heavyweights such as HDFC, Reliance Industries (RIL), ITC, Kotak Mahindra Bank and Hindustan Unilever (HUL) contributed the most to the indices’ gain. The broader market, mid-caps and small-caps, were also trading with modest gains, as their sectoral indices on BSE gained 0.03 per cent and 0.15 per cent.
IndusInd Bank up over 3%: Out of 30 Sensex stocks, 15 were trading with gains. IndusInd Bank was top Sensex gainer with a growth of 3.15 per cent, followed by ITC, Kotak Mahindra Bank, HCL Tech, HDFC, UltraTech Cements and Maruti Suzuki. While Tata Steel, Hero MotoCorp, ONGC, Bajaj Finance and M&M were among top laggards.
Nifty Metal down 1%: Nifty sectoral indices were trading mixed in today’s session. Nifty Pharma index was up 0.75 per cent led by gains in Cadila Healthcare, Lupin and Cipla. While Nifty Metal index was down half a per cent dragged by Tata Steel, Ratnamani Metals & Tubes and Welspun Corp.
Corporate earnings: Century Textiles, Dhanuka Agritech, Lyka Labs, Jamna Auto, Dwarikesh Sugar, Shriram Transport Finance, Indian Hotels and Voltamp Transformers are among 24 companies that are scheduled o announce their March quarter earnings today
Global market: In overnight trade on Wall Street, Nasdaq Composite reached its second straight day at a record high as oil prices rose. Besides, investors await stimulus from the Federal Reserve, which wraps up its two-day meeting later on Wednesday.
FII and DII: On Tuesday, foreign institutional investors (FIIs) bought shares worth Rs 490.81 crore, while domestic institutional investors (DIIs) sold shares worth Rs 733.33 crore on net basis, according to the provisional data available on the NSE