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Friday, July 20, 2018

BSE Sensex edges higher; Ranbaxy Laboratories, Sun Pharma gain

Sensex gains led by value-buying in blue-chip stocks after the stock fell sharply in previous session.

By: Reuters | Mumbai | Published: June 27, 2014 11:35:52 am

The BSE Sensex gains 0.36 per cent, while the Nifty is up 0.39 percent. Gains were led by value-buying in blue-chip stocks such as Oil and Natural Gas Corp after the stock fell sharply in the previous session. Oil & Natural Gas Corp (ONGC) gains 1.2 per cent after falling 5.8 per cent on Thursday.

Shares in Ranbaxy Laboratories Ltd are up 4.7 percent and Sun Pharmaceutical Industries gains 3.65 percent after the U.S. Food and Drug Administration approved the company’s generic version of Novartis AG’s blood pressure drug Diovan.

BSE healthcare index hits a record high for the second consecutive day by gaining as much as 2.4 percent to 11,251.51.

However, Asian shares were mostly in the red on Friday, weighed down by a weak performance on Wall Street and doubts about the strength of the U.S. economy, which pushed bonds higher.

BSE Sensex up 83 points in early trade

The benchmark BSE Sensex gained over 83 points in early trade today on the back of fresh buying by funds and retail investors after beginning of new settlement for July series in the derivatives segment amid easing of global crude oil prices.

The 30-share index, which had lost 306.23 points in the previous two sessions, recovered by 83.41 points, or 0.33 per cent, to 25,146.08 with healthcare, power, oil & gas and PSU sector stocks leading the rise.

On similar lines, the National Stock Exchange index Nifty rose 25.20 points, or 0.34 per cent, to 7,518.40.

Brokers said emergence of buying by participants amid beginning of new monthly settlement for July series in the derivatives segment and easing of crude oil prices in Asian trade influenced the sentiments here.

Among other Asian markets, Hong Kong’s Hang Seng was down 0.24 per cent, while Japan’s Nikkei fell 0.62 per cent in early trade today.

The US Dow Jones Industrial Average ended 0.13 per cent lower in yesterday’s trade on disappointing economic data.  (With PTI inputs)

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