Sensex, Nifty rise on overnight Wall Street gains, pharma stocks shine

Sensex, Nifty, Bond Market,

By Administrator_India

Capital Sands

Indian shares ticked higher on Thursday as investors took cues from overnight Wall Street gains, soothing nerves about surging domestic coronavirus cases that crossed the 1.2 million mark.

The NSE Nifty 50 index rose 0.31% to 11,167.25 by 0404 GMT and the S&P BSE Sensex gained 0.16% to 37,929.81, led by pharma stocks.

The main U.S. indexes ended higher on Wednesday as investors digested mixed corporate earnings and escalating tensions with China.

Asian markets began on a weaker note as concerns mounted over tensions between the United States and China after Washington closed a Chinese consulate in Houston, Texas.

In Mumbai, the Nifty pharma index rose 1.1% and topped the percentage gainers among sectors. Cipla advanced 1.5%.

Zee Entertainment rose 4.3% to the top of the Nifty index among stocks, followed by Bharat Petroleum, which advanced 4.2%.

India reported 45,720 coronavirus cases in the last 24 hours, taking the total to 1.24 million by Thursday morning.

The domestic surge came as the global tally crossed 15 million and a World Health Organization expert said the first use of a COVID-19 vaccine cannot be expected till early 2021.

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