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Sensex ends 113 points higher amid choppy trades

Provisionally, the Sensex closed 113 points higher at 27,994 levels and the Nifty gained 29 points to end at 8,496

SI Reporter New Delhi
Markets finished the session on a firm note after Chinese equities bounced back following the news that the central bank would infuse more capital and replenish liquidity in the banking system in the aftermath of the yuan devaluation.

Provisionally, the Sensex closed 113 points higher at 27,994 levels and the Nifty gained 29 points to end at 8,496.
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(updated at 2:35 PM)

Markets have trimmed losses but continue to trade in the positive territory as China shares rebound in the late trades after the central bank injected more funds into the financial system to calm the unnerved investors.

A sharp rebound in the rupee along with declining crude oil prices boosted the setiments.
 

Sun Pharma, Wipro, Hero Motocorp, Lupin and Cipla are the top 5 gainers on the Sensex up between 1.5-4%.

At 2:35 PM, the Sensex had rebounded around 200 points from the lows of the day and was quoting at 27,893, higher by 63 points and the Nifty was at 8,484, up 17 points.
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(updated at 11:35 AM)

The markets have recovered lost ground midway through the morning session due to gains in export-oriented information technology and pharma stocks.

At 11:35AM, the Sensex had rebounded around 200 points from the lows of the day and was quoting at 27,954, higher by 103 points or 0.3% and the Nifty was at 8,493, up 28 points.

In the broader markets, the BSE Mid-cap and Small-cap indices have added 0.5% each at 11,582 and 11,954 respectively. The market breadth is strong; out of 2,462 stocks traded on the BSE, there are 1,469 advancing stocks as against 895 declines.

Meanwhile, the rupee continued to trade weak against the US dollar. The rupee was trading lower by 5 paise at 65.36 compared to its previous close on Monday.

SECTORS AND STOCKS

The IT and pharma space has gained on expectations that the weakening rupee would help boost revenues of these export-oriented sectors during the second quarter.

The BSE healthcare index has advanced by more than 2% to top the sectoral gainers list on the BSE. Among the largecap pharma stocks, Sun Pharma, Cipla and Glenmark have surged between 2% and 5% each. Glenmark Pharma has jumped by more than 2% to hit a 52-week high of Rs 1,186 after the company received abbreviated new drug application (ANDA) approval for Drospirenone and Ethinyl Estradiol Tablet.In the midcap pharma universe, Sharon Bio Medicine, Arvind Remedies, Unichem Labs, Dishman Pharma and Ipca Labs have soared by 5-15% each.

Among IT exporters, Infosys and Wipro have gained more than 1% each. Infosys has strengthened after the company announced that it has received an order from Fidelity Bank Plc., Nigeria. In the broader IT universe, Accelya Kale Solutions, Geometric, R S Software, Tata Elxsi, Aptech and NIIT have surged 5-15% each.

On the other hand, the metal sector is having a weak session of trade tracking concerns of weak demand from China. Hindustan Zinc has shed 4%, while Tata Steel, Hindalco, JSW Steel and NMDC have lost nearly a percent each.

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First Published: Aug 19 2015 | 3:30 PM IST

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