Nifty Pharma index up; Piramal Enterprises surges 6%

Benchmark indices were trading over 2 per cent higher on Monday as investors seemed buoyed by the prospect of a stable government after exit poll results predicted the return of the BJP-led National Democratic Alliance (NDA) to power.

Polling for the seventh and final phase of Lok Sabha (LS) elections 2019 ended on Sunday evening, with most exit polls predicting the Bharatiya Janata Party’s (BJP’s) phir ek baar Modi sarkar, or ‘once more Modi government’ slogan likely to get vindicated on the counting day on Thursday (May 23). READ FULL STORY HERE
At 9:20 AM, the S&P BSE Sensex had gained a whopping 800 points, or 2.14 per cent, to trade at 38,740 levels, with Maruti, State Bank of India, Larsen & Toubro, ICICI Bank, and Reliance Industries among the top gainers. The broader Nifty50, had gained 263 points, or 2.31 per cent, to trade at 11,671.

All the Nifty sectoral indices, except Nifty IT and Nifty Media, were trading in the green, with the Nifty PSU Bank index gaining the highest .62 per cent while the rest were up 0.7 to 2.7 per cent.

In the broader market, the S&P BSE MidCap index had gained 296 points, or 2.07 per cent, to trade at 14,604, while the S&P BSE SmallCap index was up 1.86 per cent, or 258 points, higher at 14,145.

Pharma shares were up in Monday's morning session with their sectoral index trading higher.

Shares of Piramal Enterprises (up 6.66 per cent), CiplaNSE 2.22 % (up 2.45 per cent), Cadila HealthcareNSE 0.64 % (up 2.14 per cent) and Sun Pharmaceutical Industries (up 1.89 per cent) were trading in the green.

Divi's Laboratories (up 1.74 per cent), Biocon (up 0.77 per cent) and Lupin (up 0.38 per cent) too were trading with gains. Shares of Piramal Enterprises (up 6.66 per cent), CiplaNSE 2.22 % (up 2.45 per cent), Cadila HealthcareNSE 0.64 % (up 2.14 per cent) and Sun Pharmaceutical Industries (up 1.89 per cent) were trading in the green.

Divi's Laboratories (up 1.74 per cent), Biocon (up 0.77 per cent) and Lupin (up 0.38 per cent) too were trading with gains. Pharma shares were up in Monday's morning session with their sectoral index trading higher.

Shares of Piramal Enterprises (up 6.66 per cent), CiplaNSE 2.22 % (up 2.45 per cent), Cadila HealthcareNSE 0.64 % (up 2.14 per cent) and Sun Pharmaceutical Industries (up 1.89 per cent) were trading in the green.

Divi's Laboratories (up 1.74 per cent), Biocon (up 0.77 per cent) and Lupin (up 0.38 per cent) too were trading with gains.

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