Nifty, Sensex Trade Higher; Sun Pharma Stocks Fall

Key benchmark indices started higher on Wednesday led surge in global stock markets and following retail inflation data boosted possibilities of a rate cut.

At around 10am, the BSE Sensex was up 107-pts at 37,065, while the NSE Nifty50 index was up 27-pts 10,952-levels.

Zee Entertainment, Tata Steel, Vedanta, Gail India and Hindalco were among major gainers, on the flip side Dr.Reddys, SunPharma, Cipla, Wipro and PowerGrid led the losses.

Nifty Auto, FMCG, IT and Pharma indices were trading in the red with maximum losses in Nifty Pharma which falls 3.31% led by losses in Glenmark, Dr.Reddy, Sun Pharma, Aurbindo, Lupin, DivisLab and Cadila Health care.

Among falling stocks, Coal India lost 1%, reversing from morning gains, despite the company posted a good set of results. The Company reported a net profit up by 22pc at Rs.4629.7-Cr against Rs3,786.3-Cr.

Shares of Kaveri Seed Company is trading in gains, up by 4.43% at Rs.458.55 after its Q1 consol net profit jumped 9.6pc to Rs.230-Cr Vs Rs.210.1-crore.

Sun Pharma is currently losing in trade., down by 5.74% . The stock had made a good performance on Tuesday, after it posted strong results.

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