For Quick Alerts
For Daily Alerts

Markets open marginally higher; pharma stocks rally

 Markets open marginally higher; pharma stocks rally
Markets opened the day higher led by a strong rally in pharma shares. The Sensex was trading higher by 49 points, while the Nifty gained 15 points in early trade.

Pharma stocks like Lupin, Sun, Cipla and Ranbaxy were among the early gainers in trade. Heavyweight stocks like ITC, Reliance and HDFC also gained in early trade.

Larsen and Toubro which lost heavy ground on Monday gained on value buying. Canara Bank was trading marginally lower ahead of its results to be declared later today, while most other PSU banks gained ground.

Among the PSU banks that rallied in trade were Syndicate Bank, IDBI Bank and Oriental Bank of Commerce.

Private sector banks were also trading higher today with IndusInd Bank, Yes Bank and HDFC Bank among the early gainers.

Metal stocks saw some selling pressure with the likes of Tata Steel and Sesa Sterlite falling. Steel Authority of India lost ground after a rating downgrade from a leading brokerage firm.

Among the Sensex stocks that saw selling pressure was Tata Motors which has fallen for the second dy in a row, despite reporting good Q2 numbers.

Other Nifty stocks that declined were Coal India, Gas Authority of India and Tata Steel. Realty stocks were once again trading higher with DB Realty, DLF and Sobha among the early gainers.

Meanwhile, markets in Asia were trading higher led by strong gains in the Japanese Nikkei and the Seoul Composite.

Story first published: Tuesday, November 12, 2013, 9:35 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more