Pharma, infotech fare well

Enthused by the exit poll prediction indicating political stability at the Centre after the general elections, operators had turned bullish and reportedly picked up high-priced scrips from software, pharma and other sectors on the back of fresh purchases by FIIs who were net buyers in Reliance and select pharma shares. The domestic financialinstitutions, however, were mainly booking profits in several counters.

Though the net outstandings had risen to Rs 2,703 crore, marketmen said the market was not in an overbought zone and attributed the inflated high outstandings to high prices of key scrips in software, pharma and FMCG sectors. In the specified group, 18 shares were locked in the upper circuit filter, of the 84 which registered sharp to moderate gains while 64 showed losses and eight held steady.

Ranbaxy Lab was the most active scrip with a turnover of Rs 319.15 crore of the total volume of business of Rs 2557.56 crore.