Market extends budget day rally; Dr. Reddy's, Sunpharma top Sensex gainers

Nifty was oscillating in the positive and negative territory in the morning. Markets have shown an upward movement at the lunch hours of the trading session. It touched a high of 8757.25 levels, up by 40.85 points or 0.46%.

Nifty closed at 8734.25 levels, up by 17.85 points; while Sensex closed at 28226.61 levels, up by 84.97 points. Nifty and Sensex closed at four months’ closing high.  
All the indices except Nifty Auto and Nifty Metal opened in green in the morning with FMCG index leading the sectoral bunch on NSE. Heavyweight player in the FMCG, ITC Limited touched its new 52 week high in the morning hours.  
Divi’s Laboratories was in the limelight at closing hours. The stock touched its high of Rs 742.75 per share, up by Rs 49.05 per share or 7.07% in the last half hour of trading session. Other stocks from the Pharma sector, like Cadila Healthcare, Aurobindo Pharma and Dr. Reddy’s were also trading up by more than 3% each.

India VIX index closed at 13.52 levels, down by 3.22%. There were 905 advances, 723 declines and 283 unchanged stocks on NSE, reflecting strong positive bias floating in the market.

Broader markets rallied at closing hours. BSE Mid-cap index in the last half hour of trading, touched high of 13237.74 levels, up by 1.16%. BSE Small-cap index closed at 13278.62 levels, up by 125.48 points. BSE Midcap index closed at 13205.36 levels, up by 120.12 points or 0.92%.

Pharma and IT stocks lead the gains as market extends budget rally. TCS, Infosys & ITC are top contributors to the IT index.