Sensex, Nifty off day’s high; PSU Bank falls 1%, HDFC Life most active

Equity benchmarks were off day’s high in afternoon, tracking weakness in European stocks due to German political uncertainty.

The 30-share BSE Sensex was up 127.24 points at 33,487.14 and the 50-share NSE Nifty rose 28.20 points to 10,327.

PSU Bank index fell a percent while private banks were off day’s high. ICICI Bank and HDFC Bank gain nearly half a percent.

Reliance Industries continued to support the market, rising over a percent while Nifty Pharma outperformed all indices, gaining 2 percent after Dr Reddy’s Labs received establishment inspection report for Vizag unit, though the inspection is not yet closed. Dr Reddy’s Labs gained 5 percent and Sun Pharma was up 4 percent.

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Posted in: Indian Market Tips