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Sensex, Nifty close at four-month highs; banking, pharma lead gains

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The Sensex and Nifty closed higher on rise in pharma and banking stocks amid higher Asian markets buoyed by the summit between President Donald Trump and North Korean leader Kim Jong Un in Singapore.
While the Sensex closed 209 points higher at 35,692 level, the Nifty ended at 10,842, a gain of 56 points.

Both the indices closed at over their four month highs after starting the day in positive territory. Markets are also awaiting the release of key macroeconomic data of IIP and retail Inflation (CPI) due later today.

Markets are also awaiting the release of key macroeconomic data of IIP and retail Inflation (CPI) due later today. Dr Reddy's, SBI and IndusInd Bank were the top Sensex gainers.

Pharma stocks led the charge on the BSE with the healthcare index closing 1.94% or 262 points to 13,755 level. Capital goods and banking stocks led to the rally. While the BSE Capital goods index rose 220 points to 18,756, the bankex was up 204 points to 29,813 level.

Market breadth was positive with 1,438 stocks closing higher compared with 1,227 stocks ending in the red. 141 stocks were unchanged.

On Monday, the index finished at 35,483, up 39.80 points, or 0.11 per cent. The 50-share NSE Nifty, which reclaimed the 10,800-mark intra-day, settled at 10,786, showing a gain of 19.30 points, or 0.18 per cent.