Sensex rallies 450 points; pharma, banking stocks gain

The breadth too is extremely positive, with over 1,200 advancing shares versus 230-odd declining stocks on the NSE. The broader market has also logged significant gains. The CNX Nifty Junior, Midcap and the Smallcap indices are up around 2.5 percent each. The India VIX (Volatility) index has slumped nearly 14 percent to 22.00.

The market has extended gains in the last one-hour or so of trades on the back of unabated buying in HDFC and select blue chips stocks.

HDFC alone has contributed over 150 points to the BSE index. The Sensex has now rallied 470 points to 26,185.

The NSE Nifty is now firmly trading above the 7,900-level, with a gain of 143 points at 7,935.

The India VIX (Volatility) index has slumped nearly 14 percent to 22.00.

The broader market has also logged significant gains. The CNX Nifty Junior, Midcap and the Smallcap indices are up around 2.5 percent each.

The breadth too is extremely positive, with over 1,200 advancing shares versus 230-odd declining stocks on the NSE.

Among sectors - the Realty index has zoomed 3 percent, and the Pharma index has surged 2.5 percent. All the sectoral indices are up more than a percent each.

Cairn India and HDFC have soared nearly 8 percent each to Rs. 140 and Rs. 1,186, respectively.

Vedanta has zoomed over 6 percent to Rs. 90.80. Ambuja Cements, Cipla and BPCL have rallied around 3.5 percent each.

Lupin, Kotak Bank, ONGC, Dr.Reddy's, Bank of Baroda, Tech Mahindra, HCL Technologies and Infosys are the other major gainers.

On the flip side, BHEL is the major loser, down nearly 4 percent at Rs. 231.

Bajaj Auto and Zee Entertainment are the other major losers, down over a percent each.

Mere five stocks have registered a fresh 52-week high in trades so far, while 25 stocks have touched a new 52-week low.