Markets moved in a positive trajectory in the trade as across-the-board buying was seen throughout the day. Pharma stocks were among the top outperformers as the major heavyweight stocks like Lupin, Aurobindo & Sunpharma closed with strong gains along with an addition of fresh long positions.
At the close, Sensex ended with gains of 424 points, while Nifty ended added 121 points to close above 14600.
Major gainers were Sun Pharma (+6percent), UPL (+5percent), IndusInd Bank (+2.5percent) while Losers include Adani Ports (-4percent), Bajaj Finance (-2percent), SBI Life (-1percent). Sectorally, gains in the pharma pack went higher by up to 4 percent. Similarly, banks including the PSU Bank were delighted, while Realty sectors stock lagged behind.
Meanwhile, amid a grim economic situation, S&P slashed the economic growth forecast for FY22 at 9.8 percent. The Reserve Bank of India, among other things, boosted lending, liquidity, and stressed asset provisions, in the financial sector. Both private and public sector bank stocks were soaring.
Kotak Mahindra Bank took lead surging by 2.47percent followed by AU Bank and IndusInd Bank climbing over 2 percent each. Axis Bank jumped 2.51percent.
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