Sensex, Nifty continue to trade higher; HDFC falls again, Pharma down

Sensex, Nifty continue to trade higher; HDFC falls again, Pharma down

Monday, July 31, 2017
Sun Pharma to acquire Ranbaxy in $4 billion all-stock deal

Equity benchmarks continued to trade higher, with the Sensex rising 84.66 points to 32,394.54 and the Nifty up 17.30 points at 10,031.80.

The rally was driven by Kotak Mahindra Bank, L&T, ICICI Bank, Maruti Suzuki, ONGC and Tata Steel that gained up to 3 percent.

Healthcare stocks were under pressure today, with Sun Pharma, Dr Reddy’s Labs, Lupin and Cipla down up to 2 percent.

HDFC slipped 0.5 percent again after recovery in early trade. FMCG majors ITC and HUL were also down up to 1 percent.

The market breadth was positive as about 1,161 shares advanced against 899 declining shares on the BSE.

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