Sensex, Nifty extend losses; pharma gains for third straight session

Sun Pharma to acquire Ranbaxy in $4 billion all-stock deal
Benchmark indices were trading in a narrow range, with the Nifty holding 9600-mark.

The Sensex was up 20.95 points at 31166.75, while the Nifty was down 3.20 points at 9618.05. The market breadth was positive as 1,338 shares advanced against a decline of 929 shares declined, and 137 shares were unchanged.

Sun Pharma, Aurobindo Pharma and Hindustan Unilever were the top gainers, while Tata Steel, ICICI Bank, Hindalco and Vedanta lost the most.
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