Get Afternoon Free Tips Live Updates of Intraday Market; Nifty hovers around 7600

The intraday market is going strong with support from banks, capital goods and pharma stocks. The Sensex is up 280.55 points or 1.12 percent at 25380.47 and the Nifty is up 89.60 points or 1.19 percent at 7598.40. About 1923 shares have advanced, 849 shares declined, and 117 shares are unchanged.

Sun Pharma continues its rally after Taro rallied 17 percent in the US markets on Friday. Sun owns a 70 percent stake in Taro and the Israel-based subsidiary contributes 28 percent to Sun's profits. Credit Suisse believes recent price increase has potential to add USD 300 mn to Taro's sales.

Tata Power is up 4 percent while ICICI Bank, L&T and SBI are top gainers in the Sensex. Among the losers are Reliance, M&M, Hero, Maruti and M&M. From the money market space,Indian rupee is at a one week high following a subdued dollar and stronger Asian currencies support.

Globally, Asian Intraday markets are marginally in the green. The mood is cautious ahead of key Chinese data due Tuesday. Also investors are awaiting June’s US non-farm payrolls report on Thursday. Nifty hits 7600, 89.35 points or 1.1 percent while the Sensex gains 290.01 points or 1.1 percent at 25389.93.

 

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