Sensex Gains 150 Points; Midcap, Smallcap Stocks Extend Rally

Share markets in India are presently trading marginally higher. Barring automobile sector, all sectoral indices are trading in green with stocks in the consumer durables sectorrealty sector, and energy sector witnessing maximum buying interest.

The BSE Sensex is trading up by 159 points (up 0.4%), while the NSE Nifty is trading up by 51 points (up 0.5%). The BSE Mid Cap index is trading up by 0.9% while the BSE Small Cap index is trading up by 1.3%.

The rupee is trading at Rs 70.58 against the US$.

The domestic currency depreciated 11 paise to 70.60 against the US dollar in opening trade today, on increased demand for the greenback from importers and banks.

Yesterday, the rupee rose for the second successive session despite strength in the dollar against its major crosses and volatility in global crude oil prices.

In the news from the pharma spaceSun Pharma share price is in focus today after news reports suggested, markets regulator has sought an explanation from the company on the alleged fund diversion of Rs 420 billion through its key distributor and subsidiary Aditya Medisales (AML).

Reportedly, in two letters dated January 28 and February 18, the regulator asked Sun Pharma to furnish a detailed methodology of AML's operations, along with the agreement between the drug maker and AML.

Note that, the pharma company had reported a nearly four-fold jump in its consolidated net profit at Rs 12.4 billion for Q3FY19. Consolidated revenue from operations of the company stood at Rs 77.4 billion in the December quarter as against Rs 66.5 billion for the same period year ago.

To know more about the company, you can read Sun Pharma's Q3FY19 Result Analysis on our website.

Sun pharma share price is presently trading down by 0.5%.

Moving on to the news from the finance spaceDHFL share price is witnessing buying interest today after the company said that an independent accountancy firm TP Ostwal & Associates found little substance in Cobrapost allegations.

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