Thursday, February 8, 2018

Market Live: Sensex gains 450 pts, oil at 1-month low; pharma stocks rally up to 6%

Torrent Power, Prestige Estates, ICRA and SRF gained 1-4 percent. Gati, Hexaware and Dixon Technologies were down 1-4 percent.

The benchmark BSE Sensex gained momentum in afternoon trade, rallying over 450 points on continued buying by domestic funds and recovery in the rupee amid higher Asian markets.
On the other hand, Brent crude futures tumbled to a six-week low of USD 65.16 per barrel. A fall in crude prices is seen as positive for Indian economy, which imports most of its oil requirements.
The 30-share barometer stayed in the green through the the session on all-round buying. It was trading at 34,543.80 by surging 461.09 points, or 1.35 percent.
The broader NSE Nifty also soared 134.70 points, or 1.29 percent, to quote at 10,611.40.
Brokers said buying by domestic institutional investors (DIIs) and a mixed trend at other Asian bourses improved the market sentiment.
The broader markets also saw strong buying with BSE small-cap and mid-cap indices rising up to 2.33 percent.
The gains were broad-based with most of the sectoral indices on the BSE trading in the green. Realty, IT, Banking, Auto and pharma stocks led the gains 

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