Markets rise marginally, pharma players impress

The Nifty rose on Wednesday, snapping a two-session losing streak as blue-chips such as Bharti Airtel Ltd, Lupin Ltd and Dr Reddy's Laboratories Ltd gained after their earnings beat estimates. The Sensex gained 0.37 per cent or 96.19 points to 26,087.42, while the broader Nifty ended 0.55 per cent or 42.7 points up at 7,791.40. Bharti Airtel rose 5.4 per cent to the highest level since February 2012 after its June-quarter net profit adjusted for exceptional items, including tax provisions, beat estimates.

Lupin gains
Drug makers also rose on better-than-expected profits. Dr Reddy's Laboratories Ltd rose 1.9 per cent after posting a 52 per cent surge in its quarterly net profit from a year earlier. Lupin rose 4.9 per cent after reporting a higher-than-expected profit, helped mainly by higher sales in the United States and India, and lower expenses.