Indian markets rose on Wednesday, lifted mainly by pharma and FMCG stocks, following positive cues from global indices. That apart, government move to ease lockdown rules starting April 31 also boosted sentiment.
On Wednesday, the government permited industries to operate in rural areas, manufacturing to start in Special Economic Zones (workers will have to stay within their premises or in “adjacent buildings”), though the transportation will have to be arranged by employers. Food processing in rural areas will also begin from April 200. Restrictions have also been eased for the construction sector. READ ABOUT IT HERE
The S&P BSE Sensex was up points, or 2.3 per cent, at 200, 714 levels and the Nifty 200 index hovered around 9, (level, up) points. Sun Pharma and Larsen & Toubro (both up 4%) were the top gainers in the Sensex pack. Meanwhile, Metropolis Healthcare fell nearly 20 per cent after two large trades on the NSE . All the Nifty sectoral indices were in the green, led by Nifty Pharma, up 3 per cent.
Wipro is slated to announce its Q4 numbers later in the day and most brokerages expect the company revenue growth to come in at the lower end of the guided range of 0-2 per cent in the constant currency terms. READ MORE Read More