Sensex, Nifty off day’s lows; midcaps weak, pharma sulks

Sun Pharma to acquire Ranbaxy in $4 billion all-stock deal
Benchmark indices staged a recovery from the day’s low, pulled back by a rally in FMCG stocks. The Nifty was seen hovering around 9600-mark

The Sensex was up 20.06 points at 31048.27, while the Nifty was down 7.65 points at 9587.45. The market breadth was negative as just 751 shares advanced against a decline of 1,519 shares, while 110 shares were unchanged.

ITC and Hindustan Unilever (HUL) were the top gainers on both indices, while Sun Pharma, Adani Ports and Tech Mahindra lost the most.

Midcaps witnessed a negative trajectory, falling over 1.5 percent on the Nifty, while pharma stocks continued to sulk.

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