At around 9:30 am, BSE Sensex was trading over 100 points higher, but soon descended into negative territory. NSE Nifty, too, failed to hold 10,100 and is now struggling to stay above 10,000 points.
IT and Pharma stocks emerged as top gainers in morning trade with Sun Pharma, Tech Mahindra, Cipla, Dr Reddy and TCS performing well. (Photo: Reuters)
HIGHLIGHTS
- Investors remain optimistic even as markets witness a volatile session
- IT and Pharma stocks gained in early trade on Thursday
- Despite volatiltiy, markets seem to be holding on to gains registered in past six sessions
Domestic stock markets shed gains after opening marginally higher on Thursday, indicating that the day’s trade could see some fluctuations after a few solid sessions.
At around 9:30 am, BSE Sensex was trading over 100 points higher, but soon descended into negative territory. NSE Nifty, too, failed to hold 10,100 and is now struggling to stay above 10,000 points.
IT and Pharma stocks emerged as top gainers in morning trade with Sun Pharma, Tech Mahindra, Cipla, Dr Reddy and TCS performing well. Aurobindo Pharma also rose as much as five per cent and hit a 52-week high after reporting a sharp jump in Q4 profits.
Some of the top laggards were Titan, Indian Oil Corporation, HDFC, Kotak Mahindra Bank, ONGC, Bajaj Finance and Mahindra and Mahindra.
Despite the marginal decline, domestic markets seem to be holding on to the 1,000-point rally in the past six sessions as investors remain optimistic about a gradual economic recovery as the lockdown rules ease gradually.
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