Sensex was at 27,958 levels, up by 130 points or 0.47 % while the Nifty touched the crucial mark of 8,450 to trade at 8,467, up by 34 points or 0.4%.
The broader markets are, however, underper forming the larger peers with BSE midcap and Smallcap indices trading up by 0.18 % and 0.29% respectively. The breadth of the market is positive with 1176 advances against 1084 declines on the BSE.
On the sectoral front, barring Healthcare and Auto, all other sectors are trading in green.
BSE Healthcare index has dipped 2.5% with Sun Pharma leading the downfall. Shares of Sun Pharma, the top loser on the BSE, have nosedived 8.5%. The pharma company has reported a decline of 44% in its fourth quarter net profit, on the back of the Ranbaxy acquisition. The company’s quarterly results missed the street’s expectations.
Other notable losers are Bharti Airtel, Tata Motors and ONGC, having dipped between 0.5-1.5 % each on the BSE.
On the gaining side, Reliance Industries is leading the charts on the BSE.
Shares of Reliance Industries have surged nearly 3% on the BSE after the announcement that the company has overtaken state-owned Oil and Natural Gas Corp (ONGC) to become the nation's most profitable company, posting a consolidated net profit of Rs 23,566 crore in the 2014-15 fiscal.
Maruti Suzuki has gained 1.75% on the BSE. The country’s biggest carmaker has reported a growth of 13 per cent in domestic sales for the month of May 2015, outperforming most of its rivals. This is the second consecutive month of double digit growth for the company. It grew 27 per cent in April.
From the capital goods pack, BHEL and L&T have gained between 1.1-1.3% each on the BSE. According to the HSBC purchasing managers’ index (PMI) data, the manufacturing activites for the month of May grew by a four month high.
Cipla, ITC, BHEL, Vedanta, Infosys, are some of the other notable gainers on the BSE, all gaining between 1.5-2.5% on the BSE.
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