Sensex, Nifty Trade Higher, Pharma Stocks Up

Key benchmark indices of Indian stock markets opened in a positive note, led by gains in Pharma stocks, ahead of future& Option July expiry contracts.

At around 10.15am, the Sensex traded 248-pts higher at 38,096.60, while the NSE Nifty50 scaled at 11,342, up 70-pts in trade.

IndusInd bank, Bharti Infratel, Cipla, sunPharma and Ultratech are among major gainers on the Nifty, while Tata Motors, IOC, Coal India, ONGC and M&M led the losses.

On the sectoral stocks, barring Nifty Metal and PSU bank, all other indices are trading in the green led by greater gains in the Nifty pharma (+1.77%), Private bank (+0.85%) FMCG, Bank & Financial up by 0.735 Each.

Nifty Pharma’s gains were led by Cadilac, Lupin and Cipla over 3.5% each.

Among stocks, Tata Motors trade lower by 1.62% ahead of it June quarter earnings today.

Shares of Mphasis trades lower by 0.33% ahead of June quarter results.

Shares of ICICI Prudential jumps 3.46% at Rs396.45 after June quarter results, besides maintains ratings by MorganStanley.

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