Sensex up 352 points; IT, pharma stocks rally

Last Updated: Fri, Nov 25, 2016 13:56 hrs

The market has moved further up north this afternoon, with stocks, particularly from IT and healthcare sectors, gaining in strength on sustained buying interest.

The Sensex is up 352 points or 1.35% at 26,212.17 and the Nifty50 is up 121.50 points or 1.5% at 8086.50.

The rupee, which hit a record low of 68.86 a dollar in the previous session, is currently trading at 68.44 a dollar.

IT and healthcare stocks are up sharply thanks to a weakening rupee. The BSE IT index is up 4.25% now, while the Healthcare index is up 2.26%. A weaker rupee augurs well for the two sectors as they get a large chunck of their revenues through dollars.

Among top IT stocks, Infosys is up 4.5%, Tata Consultancy Services is gaining 4.7%, Wipro is up 3.3%, HCL Technologies is rising 4.7%, Tech Mahindra is up 5% and Oracle Financial Services is up 3.7%.

Among other stocks in the IT space, HCL Infosys is up 15.5%. RS Software is gaining 10.2% and Tata Elxsi is up nearly 9%. Hexaware Technologies, Sonata Software, NIIT Technologies, Aptech, 8k Miles, Mastek, MindTree, KPIT Technologies, Datamatics, Rolta India and Eclerx are up 3% - 9%.

Among pharma stocks, Aurobindo Pharma, Lupin, Sun Pharmaceutical Industries, Cipla, Cadila Healthcare and Dr Reddy's Laboratories are up 2% - 5%. Glenmark Pharmaceuticals and Piramal Enterprises are also up sharply, while Divi's Laboratories is up with a modest gain.

Alembic, Claris LifeSciences, Lupin, Sun Pharma Advanced Research, Fortis, Caplin Point Laboratories, RPG Life Sciences, Shilpa Medicare, Bliss GVS, Vivimed Labs and JB Chemicals are up 3% - 5%.

Yes Bank, GAIL India, IndusInd Bank, Idea Cellular, ITC, Tata Steel, NTPC, Adani Ports, BHEL, Kotak Bank and Power Grid Corporation are gaining 2% - 4%.

Tata Power, Grasim Industries, Coal India, Maruti Suzuki, Hindustan Unilever, Asian Paints, HDFC Bank, Mahindra & Mahindra and Zee Entertainment Enterprises are up 0.5% - 1.6%.

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