Sensex Rallies On Solid Global Cues; Pharma Shares Rally

Benchmark indices were up once again in trade heading for their 7th straight day of gains. The Sensex was up 172 points, while the Nifty was up 53 points as investors bet on an early Greece settlement

Sensex stocks that gained ground in trade were select pharma stocks like Sun Pharma and Lupin. Banking stocks like Bank of Baroda and Yes Bank were also among the early gainers in trade.

Wockhardt was up three per cent after the company got US FDA nod for analgesic drug Oxycodone hydrochloride.

Shares in Jaiprakash Associates gained ground after reports that Heidelberg was in negotiations to buy JP Associates' Sikandarabad cement unit at Rs 500 crores.

Telecom stocks were weak in trade with Idea and Bharti among the early losers.

CRISIL rallied in early trade after shareholders approved the buyback of equity shares up to Rs 102 crore at maximum Rs 2,310/share.

Software stocks like TCS and Infosys were also among the gainers in trade. Reliance which had had a spectacular run in the last few trading sessions was trading flat.

Meanwhile, markets across Asia rallied on hopes that there would be a quick resolution to the Greece crisis. The Japanese Nikkei, the Singapore's Strait Times and the Korean Kospi were trading higher.

GoodReturns.in

Story first published: Monday, June 22, 2015, 9:35 [IST]

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Sensex Rallies On Solid Global Cues; Pharma Shares Gain