 "Sensex gains nearly 100 points; Nifty reclaims 8,500")
At 12:50PM, the 30-share Sensex was up 90 points at 28,049 and the 50-share Nifty was up 33 points at 8,525.
In the broader market, both the BSE Midcap index, up 0.9% and Smallcap index, up 1.4% have performed better than the front-liners. Market breadth in BSE is positive with 1,660 advances against 727 declines.
Buzzing Stocks
8 out of the 12 sectoral indices of BSE are in green. BSE Healthcare index up 1.6% is the top gainer followed by BSE FMCG and Capital Goods indices up nearly 0.7% and 0.5% each.
Sun Pharma is among the top gainers and has gained around 3.5%. ahead of record date set for the merger with Ranbaxy. Dr Reddys Lab has gained 1.4%. Dr Reddys Lab has entered into a definitive agreement to acquire a select portfolio of the established products business of UCB in the territories of India, Nepal, Sri Lanka and Maldives.
Bharti Airtel has gained around 2%. Bharti Airtel has informed BSE that Mr. Mukesh Bhavnani, Group General Counsel & Company Secretary has resigned from the Company to pursue an assignment outside of the Company.
From the FMCG pack, ITC and HUL have gained around 0.7% and 1% each.
Capital goods major L&T has gained 0.6%. The construction arm of L&T has won orders worth Rs 3,343 crores across various business segments in March 2015 according to company’s release to BSE.
M&M is trading higher by 0.5%. M&M has announced its total auto sales numbers at 45,212 units during March 2015 as against 51,636 units during March 2014.
Maruti Suzuki today reported a marginal 1.6% decline in its total sales for March at 1,11,555 units as against 1,13,350 units in the same month a year ago. The stock is trading lower by around 2%.
Metal stocks are trading mixed. Tata Steel is up 0.3%, Hindalco is up 1.5% and Sesa Sterlite has shed around 0.6%. Tata Steel has divested its entire stake in Lanka Special Steels Limited to E. B. Creasy & Company for a total consideration of around Rs 20.4 crore in an all cash deal.