Sensex, Nifty trade in green; Pharma stocks rally

The Dalal Street commenced its Thursday's trading session on a positive note amid steady performance of global peers. 

At 1146 hours, Sensex was trading at 32,220.71 up 34.30 points or 0.11%, while Nifty surged over 4.05  points or 0.04% trading at 10,083.35.

In early trade, Sensex opened at 32,299.84 up 113.43 points or 0.35%, while Nifty surged over 38.25  points or 0.38% retaining over 10,100-mark. 

In regards to Nifty, analysts at Motilal Oswal said, "Trend of the market is intact to positive but if it sustains below 10050 then only a profit booking could be seen towards 10000-9980 zones whileon the upside a decisive move above 10138 could commence the next leg of rally towards 10200 then 10350 marks."

Gainers on BSE involved Sun Pharma taking the lead by trading at Rs 519.65 per piece up 3.32%, followed by Dr Reddy's Laboratories at Rs 2245.10 per piece (1.58%), Lupin at Rs 1006.95 per piece (1.50%), Axis Bank at Rs 505 per piece (1.24%) and Cipla at Rs 560 per piece (1.03%). 

Among losers Wipro saw highest selling and was trading at Rs 284.55 per piece below 3.88%. Other losers on BSE were HDFC (Rs 1771.10 per piece), Power Grid (Rs 213.25 per piece), TCS (Rs 2487.85 per piece), Hero Motocorp (Rs 3892 per piece) and HDFC Bank (Rs 1843 per piece) trading negative in the range of 0.01% - 0.40%. 

Wipro on September 13, 2017, stated in a PTI report, that the company would contribute $250,000 to rebuild Texas Fund in a move to support recover and rebuilding efforts in the aftermath of Hurricane Harvey. 

Motilal added, "Expect oil stocksto see recovery after yesterday's correction. Bottomfishing, value buying will continue in sectors like Pharma. Infrastructure space should continue to see interest. Overall index could continue to consolidate after the recent upmove but broad bias remains positive."

Meantime, Indian Rupee was trading at 64.138 higher by 0.013 paisa or 0.02% against US benchmark dollar currency. 

Asian stocks were trading steady, after consolidating and touching their highest in a decade and appeared to take in stride a burst of Chinese data which undershot market expectations, reported in Reuters.