Sensex marginally trims losses, Nifty tests 10000; pharma stocks gain

Sun Pharma to acquire Ranbaxy in $4 billion all-stock deal
Equity benchmark indices were off the day’s lows and saw a marginal recovery during the previous hour, with the Nifty looking to test 10,000-mark.

The Sensex was down 127.74 points at 32349.00, while the Nifty traded lower by 38.70 points at 10042.80.The market breadth was negative as 753 shares advanced against a decline of 1,376 shares, while 113 shares were unchanged.

Banking stocks continued to sulk for the second consecutive session, with PSU banks and Nifty Bank down by 1.7 and 0.8 percent, respectively.
Coal India, BHEL and Hindalco lost the most on both indices, while Lupin, TCS, Aurobindo Pharma and IOC were the top gainers.

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