Sensex, Nifty off day’s lows; Midcap extends gains; pharma stocks rally

Equity benchmarks recouped losses in afternoon trade while the broader markets extended gains amid consolidation.

The 30-share BSE Sensex was down 7.88 points at 31,263.40 and the 50-share NSE Nifty fell 0.80 points to 9,663.10.

Healthcare, HDFC Group and metals stocks continued to support the market whereas technology, FMCG and oil & gas stocks were under pressure.

The BSE Midcap and Smallcap indices gained 0.4 percent each.

Healthcare stocks like Sun Pharma, Dr Reddy’s Labs etc gained 4 percent each on attractive valuations. Lupin was up 2 percent. HDFC continued to be leading contributor to Sensex’ gains, up nearly 2 percent whereas TCS lost 3 percent on downgrade report from Nomura.

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