Metal, pharma stocks top performers in trade

He said that the metal prices have been rising optimistically over the past few weeks, which was one of the factors driving the metal sector.

New Delhi: The top performers on the Nifty were Nifty Metal and Nifty Pharma, which gained 2.66 per cent and 1.9 per cent, respectively, said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.

He said that the metal prices have been rising optimistically over the past few weeks, which was one of the factors driving the metal sector.

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Hindalco Industries, NTPC, Hero MotoCorp, Dr Reddy’s Laboratories and Divis Lab, were among the top gainers while losers include Adani Enterprises, LTIMindtree, HCL Technologies, Tech Mahindra and Power Grid.

Vinod Nair, Head of Research at Geojit Financial Services said the Indian market witnessed a rebound as positive GDP data from Britain instilled confidence among its global peers.

However, the market is facing stiff resistance at higher levels due to insipid liquidity and a lack of triggers to overcome the bears.

The upside risk to domestic inflation may recede with the return of a good monsoon in September. This, in turn, could provide the RBI with leeway to maintain a pause in the upcoming policy meeting next week, he said.