Indian equities closed higher for the third consecutive day but seen some pressure at higher levels. Benchmarks continued their best rally in 10 months. The BSE Sensex ended 458 points higher at 50,255.75 while the NSE Nifty 50 index settled 142 points higher at 14,789.
Among top gainers in today's session are IndusInd Bank, Power Grid, Coal India, Sun Pharma and Dr. Reddys while top losers namely Shree Cements, UltraTech Cement, UPL, Maruti Suzuki and ITC.
Among the sectoral indices, the Nifty Pharma index was the top performer in today's session, ending 2.8 percent higher, after gaining as much as 4 percent in early trade. The PSU Bank index was also on-par with the Pharma index, ending with gains of 2.6 percent. The Nifty Metal index gained 1.7 percent while the I.T. and Auto indices gained 1 percent each. The FMCG index was the underperformer in today's session, ending with a negative bias. Broader markets outperformed the benchmarks in today's session. The Nifty Midcap index ended 1.4 percent higher while the Smallcap index gained 1.2 percent in today's session.
IndusInd Bank stocks gained over 10 percent after brokerage firm Morgan Stanley ups target price on the counter by 14 percent. Tata Motors stock recorded a new 52-week high of Rs. 341.9 per share on the NSE.
Bharti Airtel stock was also trading with gains of over 2 percent ahead of its Q3FY21 results. Analysts expect the company to turn profitable while on the revenue front, there can be witnessed growth in mid-teens on a YoY basis.
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