Market rebounded sharply on Thursday with benchmark indices trading higher during the afternoon on Thursday as pharma stocks gained focus.

At 1 pm, the BSE Sensex was trading near the day’s high of 52,281.08 at 52,151.15, up 209.51 points or 0.40 per cent. It hit an intra-day low of 51,957.92. The Nifty 50 remained above the 15,700-mark at 15,701.65, up 66.30 points or 0.42 per cent. It hit an intra-day high of 15,741.25 and a low of 15,648.50.

Bajaj Finance, Divi’s Lab, Hindustan Unilever, Bajaj Finserv and Wipro were among the top gainers on the Nifty 50 while Bajaj Auto, Eicher Motors, UPL, Adani Ports and Maruti were the top laggards. 

Gaurav Garg, Head of Research, CapitalVia Global Research Ltd, said, “In morning trades, indexes remained in the green, owing to positive cues from their Asian counterparts. Sentiments remain positive as faster vaccine coverage and front loading of fiscal measures outlined in this year's budget, according to the Finance Ministry, will be important factors in improving the investment and consumption cycles.”

Auto stocks under pressure

On the sectoral front, all indices except Nifty Auto were in the green. While Pharma and PSU Bank stocks gained focus. 

Nifty Auto was down 0.23 per cent. 

Meanwhile, Nifty Pharma was up 1.41 per cent and Nifty PSU Bank was up 1.49 per cent. 

Realty and Metal stocks also gained. Nifty Metal was up 0.89 per cent while Nifty Realty was up 0.97 per cent.

Midcap, smallcap stocks extend gains

All broader indices were in green. Midcap and smallcap stocks continued to witness significant buying activity. 

Nifty Midcap 50 was up 0.94 per cent while Nifty Smallcap 50 was up 1.21 per cent. The S&P BSE Midcap was up 0.78 per cent while the S&P BSE Smallcap was up 1.50 per cent.

Notably, the volatility index rose 1.55 per cent to 14.98.

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