Sensex, Nifty choppy; Dr Reddy’s Labs, Cipla, GAIL fall

Equity benchmarks remained choppy in afternoon trade with the Nifty hovering in a range of 7600-7650 ahead of expiry of March derivative contracts due on Thursday. European shares traded higher with the FTSE, CAC and DAX rising 0.5-1 percent.

The 30-share BSE Sensex rose 21.38 points to 24987.78 and the 50-share NSE Nifty climbing 7.05 points to 7622.15. About 1568 shares declined against 891 advancing shares on BSE.

Lupin shares trimmed some losses, falling 8 percent after getting a 483 letter from USFDA for Mandideep unit in Madhya Pradesh.

Among others, HDFC, Sun Pharma, Dr Reddy’s Labs, GAIL, Cipla and NTPC were down 1-3 percent while Tata Motors topped buying list on Sensex, up 3.5 percent followed by Reliance Industries, Infosys, Maruti, Axis Bank, Adani Ports, SBI, Bharti Airtel, Tata Steel and Hindalco Industries with 1-3 percent upside.

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Posted in: Indian Market Tips