Sensex, Nifty off day’s high on correction in pharma stocks

Equity benchmarks erased some early gains on sharp correction in healthcare stocks.

Lupin fell 5 percent followed by Sun Pharma, Cipla and Dr Reddy’s Labs. Infosys and HUL too were under pressure.

However, Reliance Industries rebounded after early losses, up 0.5 percent. ITC, Tata Motors, HDFC and HDFC Bank continued to support the market.

The 30-share BSE Sensex was up 16.82 points at 31,092.55 and the 50-share NSE Nifty rose 14.75 points to 9,592.80.

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Posted in: Indian Market Tips