Nifty nears record high, Bank index holds 25,000; pharma stocks slip

Sun Pharma to acquire Ranbaxy in $4 billion all-stock dealSun Pharma to acquire Ranbaxy in $4 billion all-stock deal

The Nifty50 as well as Midcap index continued to trade near record highs in noon, following upside in Asian peers ahead of monetary policy cues from Federal Reserve meeting that will begin on Tuesday.

The 30-share BSE Sensex was up 203.86 points at 32,476.47 and the 50-share NSE Nifty rose 79.30 points to 10,164.70.

About two shares advanced for every share falling on the BSE.

L&T, Bharti Infratel, IndusInd Bank and Bajaj Auto were top gainers with 2-3 percent rally while Sun Pharma, Dr Reddy’s Labs and Aurobindo Pharma fell 0.5-1.5 percent.

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Sensex, Nifty rangebound; RBI’s MPC meet outcome awaited Sensex, Nifty continue to be sluggish ahead of RBI policy; Europe mixed
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