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Nifty extends gains, Sensex rises 250 pts; Galaxy Surfactants up 8%

Benchmark indices rebounded with mild gains on Thursday after shedding more than 2,000 points in previous seven consecutive sessions.

The 30-share BSE Sensex was up 94.37 points at 34,177.08 and the 50-share NSE Nifty gained 23.30 points at 10,500.

Cipla rallies 5 percent. Sun Pharma lost 2.6 percent post Taro earnings and Aurobindo Pharma was down 1 percent post Q3 earnings.

IOC shed nearly 4 percent as stock goes ex-dividend.Nifty Midcap was up 0.3 percent on positive breadth.

Torrent Power, Prestige Estates, ICRA and SRF gained 1-4 percent. Gati, Hexaware and Dixon Technologies were down 1-4 percent.

Most Asian indexes climbed after last session's rally stalled late in the trading day, with the Nikkei rising 0.6 percent and South Korea's Kospi up 0.5 percent. However, China's Shanghai Composite was down 1.5 percent.

Aurobindo Pharma said its fiscal third-quarter profit rose 2.8 percent to Rs 595 crore, helped by higher sales of generic drugs in US and Europe markets.

The company posted a net profit of Rs 579 crore in the same period previous year. Total revenue rose 11.2 percent to Rs 4369.2 crore.

The company took a one-time charge of Rs 66.4 crore for the quarter  due to US deferred tax assets and liabilities based on the new tax law which has resulted in reduction in federal corporate tax from 35 percent to 21 percent.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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