Sensex, Nifty regain momentum; pharma gains for 4th day

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

Benchmark indices regained some momentum after trading off the high points of the day.

The Sensex was up 122.68 points at 31260.27, while the Nifty was up 29.65 points at 9645.75. The market breadth was narrow as 1,340 shares advanced against a decline of 895 shares, while 140 shares were unchanged.

Bharti Airtel and Cipla were the top gainers, while Tata Steel, HUL and Indiabulls Housing Finance lost the most on both indices.

Pharma stocks continued to gain for the fourth consecutive session, while midcaps gained about half a percent.

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