Business Standard

Sensex edges higher; defensive stocks surge

defensive stocks jumped on the US regulator's approval for a key drug while IT stocks gained

Image

Reuters Mumbai

The BSE Sensex rose on Friday as defensive stocks such as Sun Pharmaceutical Industries and Ranbaxy Laboratories jumped on the US regulator's approval for a key drug while IT stocks gained after rival Accenture Plc reported robust quarterly revenue growth.

Ranbaxy provisionally rose 4.6% while its new owner Sun Pharma ended 3.9% higher.

Among software stocks, Tata Consultancy Services provisionally rose 4% while Infosys ended 1.4% higher.

The Sensex provisionally closed 0.15% higher, while the Nifty gained 0.24%, shrugging off two consecutive days of declines.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 27 2014 | 3:42 PM IST

Explore News