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Sensex is up 275.58 points or 0.97 percent at 28563.81, and the Nifty jumped 91.25 points at 8354.70.
Gold price today: Yellow metal above Rs 40,000, may retest 40,500
Experts say the volatility is likely to continue but investors can use the dips to buy the yellow metal with an initial target of Rs 40,500.
Nifty Pharma jumped over 2 percent and is the outperforming sector led by Cadila Healthcare, Dr Reddy’s Labs and Sun Pharma.
UBS maintains buy on HDFC Bank: The research house kept a target at Rs 1,480 per share. Trends in unsecured retail asset quality are stable, while 80 percent of the unsecured loans are to the salaried employees. The repayments continue to remain healthy currently and do not expect significant impact on the asset quality.
D-Street Buzz: Pharma stocks rally led by Dr Reddy’s Labs, Sun Pharma; ITC, Zee jump 6%
The top gainers included ITC and Power Grid Corp which jumped over 6 percent followed by Hindustan Unilever and ONGC which added over 4 percent each.
Sensex, Nifty trade flat in the volatile session; Nifty Private Bank Index slip over 2 percent:
IDFC First Bank’s MD & CEO sells shares: V. Vaidyanathan, Managing Director and Chief Executive Officer of the bank sold 2,75,58,412 shares on March 19,2020 for approximately Rs 58 crore to close ESOP loan availed by him. He intends to sell about Rs 35 crore worth of stocks on March 20 to entirely repay the residual ESOP Loan taken for exercising his ESOP shares to release his pledged shares.
ITC stock sees 32% in 2020; brokerages now expect double-digit gains
As of March 19 close, shares of ITC have fallen 32 percent on BSE in the calendar year 2020, in sync with a 31 percent fall in Sensex during the same period.
Dr Reddy’s launches Pyrimethamine tablets in US mkt: Dr. Reddy’s Laboratories launched Pyrimethamine Tablets USP, 25 mg, a therapeutic equivalent and first-wave generic version of Daraprim (pyrimethamine) Tablets, approved by the US Food and Drug Administration (USFDA).