Key barometer indices of the markets indices staged an impressive rally in in the session Wednesday, led by gains in Pharma, FMCG, and banking stocks.
At 9.45-am, the BSE Sensex scaled higher at trading 565-points higher at 31,254-level, while theNSE Nifty50 index advanced 175 points at 9,168-level.
UPL, Britannia, Hindalco, Axis bank and SunPhara were among major gainers in the Nifty, whereas Zee Ent, Kota bank, Bharti Infratel and Bajaj finance slipped.
Pharma stocks that gained consisted of the major stocks like Glenmark, Aurbiondo Pharma and Sun Pharma. The prevailing situation of Covid-19 also hel;ped improve sentiments for Pharma stocks. Track the best Bank Nifty tips, Best stock tips to follow through the expert.
Banking stocks also advanced with the Nifty Bank index rose over 2 percent with Bandhan Bank, Axis bank, IndusInd Bank, SBI and ICICI Bank. A descend in retail inflation also aided progress for banking stocks.
Nifty FMCG index went up over 3 percnet led by Britannia, Marico, HUL and Nestle India. The entire constituents in the Nifty FMCG were trading in the green.
Broader market indices also advanced with Nifty Mid-Cap-100 & SmallCap-100 indices up over 2.39-pc and 2.83-pc each.