Sensex, Nifty extend gains; pharma and power stocks surge

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

Benchmark indices extended their gains from the opening tick, with the Nifty trading above 10,100-mark. Sharp rally in pharmaceuticals and an upmove on Reliance Industries lent support to the Street.

The Sensex was up 77.73 points at 32236.39, while the Nifty was up 22.75 points at 10115.80. The market breadth was positive as 1,192 shares advanced against a decline of 715 shares, while 79 shares were unchanged.

Midcaps continued their outperformance versus frontline indices, while pharmaceuticals, power and PSU bank index were trading on the higher side.

Tata Motors, Reliance Industries, and Tata Power were the top gainers on both indices, while ITC and Larsen & Toubro lost the most.

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Epic Research
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