Sensex jumps 254 points; Pharma, IT stocks rise

Extending its gains for the third straight session, the equity benchmark Sensex rose over 254 points on 10 March amid largely positive signs in pharma, IT and auto stocks.

The 30-share BSE index rose 254.03 points or 0.50% to end at 51,279.51 and the NSE Nifty rose 76.40 points or 0.51% to close at 15,174.80.

Bajaj Finance topped the Sensex pack with 2%, followed by Sun Pharma, Tech Mahindra, Axis Bank, Bajaj Auto and Infosys.

On the other hand, ONGC, Kotak Bank, ITC, HDFC Bank and Powergrid lagged behind.

According to Binod Modi, head – strategy at Reliance Securities, domestic equities gained for the third consecutive day, mainly due to favorable global cues.

IT, metals and pharma recorded sharp declines of over 1%, while automobile stocks also saw vigorous buying.

Baring, PSU Bank, most of the major regional indices ended in green. Unlike March 9, midcap and small cap stocks again attracted investor interest on Wednesday.

Elsewhere in Asia, bounces in Shanghai and Seoul ended with losses, while Hong Kong and Tokyo settled on a positive note.

Stock exchanges in Europe were largely traded in mid-session deals.

Meanwhile, global oil benchmark Brent crude was trading down 0.59% at $ 67.12 a barrel.