Sensex, Nifty off day’s high; FMCG rises, IT & oil stocks drag

Equity benchmarks gained strength in afternoon trade as European markets extended early rally with the FTSE’s Britain, Germany’s DAX and France’s CAC rising 1-1.6 percent.

The Sensex rose 113.58 points to 27280.45 and the Nifty climbed 21.90 points to 8357.85.

About 1634 shares advanced against 999 declining shares on Bombay Stock Exchange.

FMCG, banking & financials and pharma stocks supported the market while IT and auto stocks were under pressure.

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Posted in: Indian Market Tips