Sensex zooms 1534 Points, Nifty Tops 16,250; Pharma Stocks gain

Market Closing Report: After plunging significantly the previous session, Indian market indexes staged a solid return on Friday, led by advances in metal and pharmaceutical firms. Asian equities rose as a result of China cutting a key lending benchmark to support a weakening economy.

The 30-share BSE Sensex rose 1,534 points, or 2.91 percent, to close at 54,326, while the NSE Nifty fell 457 points, or 2.89 percent, to 16,266. BSE-listed companies' market capitalization rose by Rs. 5,05,143.44 crore to Rs. 2,54,11,537.52 crore. Mid- and small-cap stocks finished strongly, with the Nifty Midcap 100 up 2.20 percent and small-cap up 2.51%.

The NSE's 15 sector gauges all ended the day in the green. The Nifty Metal and Nifty Pharma sub-indices both beat the index, climbing 4.20 percent and 3.69 percent, respectively.

Dr Reddy's was the highest Nifty gainer, rising 7.60 percent to Rs. 4,228. Among the winners were Reliance Industries, Adani Ports, JSW Steel, and Tata Motors. On the BSE, the overall market breadth was positive, with 2,497 shares rising and 777 falling.

On the Sensex. Dr Reddy's, RIL, Tata Steel, L&T, Axis Bank, IndusInd Bank, Sun Pharma, SBI, HDFC, ICICI Bank, and Hindustan Unilever were among the top gainers on the 30-share BSE index.

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