Equity indices end higher led by pharma, financial stocks

Equity benchmark indices showed resilience amid resurgence in Covid-19 cases and closed half a per cent higher on Thursday led by pharma and financial scrips.

Investors tracked the updates on the pace of vaccination and prediction of a normal monsoon season across the country to gauge the prospects of economic recovery.

The BSE S&P Sensex closed 260 points or 0.53 per cent higher at 48,804 while the Nifty 50 edged higher by 77 points or 0.53 per cent to 14,581.

Sectoral indices at the National Stock Exchange were mixed with Nifty pharma up by 1.4 per cent, metal by 1.3 per cent, financial service by 1.1 per cent and private bank by 0.8 per cent. But Nifty auto and PSU bank fell by 1.3 per cent each.

Among stocks, IT software major Tata Consultancy Services was up by 3.9 per cent to Rs 3,227 per share while Wipro jumped by 3.5 per cent to Rs 433.70.

Cipla gained by 3.2 per cent, ICICI Bank by 2.7 per cent, HDFC Bank by 2.4 per cent, Ad Ports by 2.2 per cent and Tata Steel by 1.7 per cent.

However, Grasim lost by 3.1 per cent, Eicher Motors by 3 per cent, Maruti Suzuki by 2.5 per cent and Bajaj Finance by 1.6 per cent.

Meanwhile, Asian shares were on the backfoot following mixed cues from Wall Street where a sharp sell-off in the largest bitcoin exchange Coinbase hit tech shares.

Japan's Nikkei rose by 0.07 per cent while South Korea's Kospi index was up by 0.38 per cent. Hong Kong's Hang Seng index was down by 0.37 per cent.

( With inputs from ANI )