Equity benchmarks were marginally higher amid volatility in morning trade. The Sensex rose 56.99 points to 24940.58 and the Nifty advanced 21.95 points to 7625.15, led by auto, telecom, metals and pharma stocks.
The broader markets also traded higher with the BSE Midcap and Smallcap indices rising 0.2 percent and 0.5 percent, respectively. About 1102 shares advanced against 559 declining shares on Bombay Stock Exchange.
Tata Motors, Bharti Airtel, Tata Steel, Hindalco Industries, Coal India, BHEL and M&M gained 1-4 percent while HDFC, Wipro and Cipla fell 0.7 percent each.
Asia markets turned higher, shrugging off a global sell-off in equities overnight, as oil prices advanced and activity in China's services sector showed signs of pick-up.
Cipla plans to deploy more funds for research and development in respiratory, dermatology, neurology and oncology segments and hopes for the first commercial launch in the US around 2020. However, the stock is trading nearly 1% lower.
Tata Steel is trading 1.5% higher after Sanjeev Gupta, a potential buyer of Tata Steel’s British assets, decides to meet Britain’s business secretary on Tuesday to discuss his plan to turn around the struggling operations without the loss of thousands of jobs. Prime Minister David Cameron’s government has said it was working to broker a deal with potential buyers after India’s Tata Steel put its British operations up for sale last week, threatening thousands of jobs.
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BTST: BUY APOLLOTYRE ABOVE 171 T1 173 T2 175 SL 168.50
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