Share market tips: Nifty trades well above 11,400, Sensex maintains the 200-pt gain
Maximum gains are seen in banks, metals, pharmaceuticals, as well as auto names. Midcaps, too, are trading strong.
Equity benchmarks have continued to maintain upward momentum, with the Nifty trading well above 11,400, while the Sensex is higher by around 200 points. A stronger rupee and a likely profit booking sentiment are weighing on tech stocks, with the Nifty IT index falling almost a percent.
However, other major sectors are trading in the green, with maximum gains seen in banks, metals, pharmaceuticals, as well as auto names. Midcaps, too, are trading strong and pushing indices higher. The Nifty Midcap index is up over a percent.
Shares of oil marketing companies soared on Friday morning as investors cheered lower crude oil prices and its impact on the companies’ financials.
The likes of Hindustan Petroleum and Bharat Petroleum, among others, rose over 3 percent. Here is a look at their charts.
Shares of Sun Pharma are trading higher by over 3 percent on Friday morning as investors cheered an approval for an eye drug for the company. It received a USFDA nod for its specialty ophthalmic drug Xelpros, which is used to treat chronic eye disease glaucoma.
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