The Indian benchmarks closed on positive note in the midst of renewed buying interest in defensives led by pharma shares.
Further, the street is expecting the central bank to maintain status quo on key rates at its policy meet tomorrow.
Consumer Durables and FMCG shares firmed up on expectations that the government will move the GST Constitutional Amendment Bill in the Lok Sabha soon.
Sun Pharma was the top gainer up over 8 per cent following the completion of the merger of Ranbaxy Laboratories with itself.
Further, trading was suspended in Ranbaxy Labs following the merger process. The BSE SENSEX closed at 28504.46 up by 244.32 points or by 0.86 per cent and then NSE Nifty closed at 8659.9 up by 73.65 points or by 0.86 per cent.
The BSE MIDCAP closed at 10869.82 up by 119.4 points or by 1.11 per cent. while the BSE SMLCAP closed at 11299.3 up by 152.58 points or by 1.37 per cent
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 1168.50,+8.34 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3679.30,+4.33 per cent), GAIL (India) Ltd. (Rs. 399.10,+3.77 per cent), Cipla Ltd. (Rs. 734.95,+3.59 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 317.10,+3.48 per cent), among others.
The top losers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 318.05,-1.84 per cent), Wipro Ltd. (Rs. 620.25,-1.75 per cent), Reliance Industries Ltd. (Rs. 824.00,-1.26 per cent), Coal India Ltd. (Rs. 360.25,-0.72 per cent), Tata Power Company Ltd. (Rs. 77.05,-0.64 per cent), among others.
The top gainers of the NSE Nifty pack were Sun Pharmaceutical Industries Ltd. (Rs. 1169.30,+8.15 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3677.85,+4.08 per cent), GAIL (India) Ltd. (Rs. 399.90,+3.92 per cent), Cairn India Ltd. (Rs. 221.20,+3.68 per cent), Cipla Ltd. (Rs. 735.65,+3.67 per cent), among others.
The top losers of the NSE Nifty pack were Punjab National Bank (Rs. 148.65,-2.17 per cent), Wipro Ltd. (Rs. 621.15,-1.90 per cent), Tata Steel Ltd. (Rs. 318.10,-1.71 per cent), Reliance Industries Ltd. (Rs. 824.65,-1.36 per cent), IndusInd Bank Ltd. (Rs. 914.95,-1.11 per cent), among others
Among the thirteen sectoral indices, realty index was leading the rise and closed at 1800.22 up by 108.72 points or by 6.43 per cent. Housing Development & Infrastructure Ltd. (Rs. 128.85,+24.25 per cent), Unitech Ltd. (Rs. 17.55,+8.00 per cent), Indiabulls Real Estate Ltd. (Rs. 72.45,+7.25 per cent), Anant Raj Ltd. (Rs. 42.55,+6.24 per cent), DLF Ltd. (Rs. 167.30,+4.82 per cent)
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2999 , shares advanced were 1913 while 966 shares declined and 120 were unchanged.