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Sensex, Nifty close higher for second straight session; consumer durables, pharma shares gain

Sensex, Nifty close higher for second straight session; consumer durables, pharma shares gain

Sensex rose 350 points to end at 57,943 and Nifty gained 103 points to 17,325.

 HDFC, Bharti Airtel, UltraTech Cement, Sun Pharma and HDFC Bank were the top Sensex gainers, rising up to 3.06% HDFC, Bharti Airtel, UltraTech Cement, Sun Pharma and HDFC Bank were the top Sensex gainers, rising up to 3.06%

Indian equity market ended higher for the second straight session today, led by gains in consumer durables and pharma shares.

Sensex rose 350 points to end at 57,943 and Nifty gained 103 points to 17,325.

HDFC, Bharti Airtel, UltraTech Cement, Sun Pharma and HDFC Bank were the top Sensex gainers, rising up to 3.06%. ITC, IndusInd Bank, Maruti and SBI were the top Sensex losers, falling up to 0.99%.

Of 30 Sensex stocks, 20 ended in the green.

BSE mid cap and small cap indices rose 157 points and 174 points, respectively.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said, "In the case of Nifty, a gap up opening on March 29 was followed by a tough battle between the bulls & the bears near 17300-17250. Towards the end of the session, the bulls took control and pushed the index higher. So the index is set to extend beyond the 61.8% retracement of Jan - March decline i.e. 17330. The overall structure shows that the Nifty is witnessing short term consolidation within which it has recently taken support near the lower end of the range i.e. near 17000 & is attempting a leap towards the upper end i.e. 17500. The index is expected to stay in this range for the next few sessions & stock specific action is likely to continue in the short term."

The market breadth was negative with 1435 shares ending higher against 1974 stocks in the red. 108 shares were unchanged. Market cap of BSE-listed firms stood at Rs 261.61 lakh crore.

Consumer  durables and pharma shares were the top sectoral gainers with their BSE indices zooming 423 points and 329 points, respectively.

Foreign institutional investors (FIIs) sold shares worth Rs 801 crore on March 28, and domestic institutional investors (DIIs) bought shares worth Rs 1161 crore, as per provisional data available on NSE.

On Monday, Sensex rose 231 points to 57,593 and Nifty closed 69 points higher at 17,222. Bharti Airtel, Axis Bank, ICICI Bank, ITC, State Bank of India, Indusind Bank, Power Grid, Bajaj Finserv, Hindustan Unilever and Reliance Industries were the top Sensex gainers, rising up to 3.40%.

Nestle India, HDFC, HCL Technologies, Dr Reddy's, Asian Paints, Wipro, Larsen & Toubro, Tech Mahindra were the top Sensex losers, falling up to 1.83%.