Sensex, Nifty extend gains; pharma,energy stocks surges

The BSE Sensex advanced by over 70 points in late morning trade on buying by domestic investors in energy, oil & gas, pharma and auto stocks.
The S&P BSE Mid-Cap index and the S&P BSE Small-Cap index were up 0.46 and 0.39 per cent, respectively. Both these indices outperformed the Sensex which rose by 0.23 per cent.
The Sensex resumed higher at 32,188.95 and moved in a range of 32,258.28 to 32,137.71 before quoting at 32,231.98 at 1100 hours, up 73.32 points, or 0.23 per cent.
The NSE Nifty also trading higher by 14.30 points, or 0.14 per cent, to 10,107.35 at 1100 hours.

Major gainers were, Reliance 2.75 pct, Dr Reddy 2.50 pct, Sun Pharma 2.28 pct, M&M 1.18 pct and Lupin 1.04 pct.
However, ITC and Larsen fell by 1.42 pct and 1.L2 pct, respectively.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,230.74 crore yesterday, as per provisional data released by stock exchanges.
Domestic institutional investors (DIIs) bought shares worth a net Rs 1,313.08 crore as per provisional data.
Overseas, most Asian stocks were trading lower. All three major US stock indexes booked all-time closing highs yesterday. It marks the first time all three benchmarks finished at records on the same day since 26 July 2017.

-- Rupee up at 63.99 against US dollar --
The rupee was trading up 5 paise to 63.99 against the US currency on sustained selling of the greenback by banks and exporters.
The local currency resumed higher by 6 paise at 63.98 per dollar against last closing level of 64.04 per dollar at the Interbank Foreign Exchange (Forex) Market.
The domestic currency hovered in a range of 63.98 and 64.02 before quoting at 63.99 per dollar at 1130 hrs.