After 7 days' losing streak, bulls back on Dalal Street

File Image of BSE Sensex. | Reuters

About 2,158 shares advanced against 639 declining shares on the BSE. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed as USA bond yields crept up towards four-year highs.

The US trade-deficit announcement, resulted in a dip for INR. Cipla and Ajanta Pharma too gained 7.8 per cent and 5.3 per cent respectively.

Other sectoral indices that witnessed gains include realty (2.51 per cent), Telecom (1.45 per cent), Capital Goods (1.44 per cent), teck (1.41 per cent) and IT (1.40 per cent) among others. Dr Reddy's Labs rose 3 percent despite there could be a delay in launch of generic Suboxone film after United States drug maker Indivior filed patent lawsuits against five generic filers including the company.

Maruti Suzuki climbed over a percent. Hence, it has retained Buy call on the stock with target at Rs 11,300 per share.

Cement stocks strengthened after strong earnings from ACC (up 6 percent) and Heidelberg Cement (up 7 percent).

Excel Industries jumped 18.48% to Rs 883.40 at 10:57 IST on BSE after net profit spurted 1557.63% to Rs 19.56 crore on 60.11% growth in net sales to Rs 146.77 crore in Q3 December 2017 over Q3 December 2016. BSE Healthcare index is up by 2.53%, while BSE Information Technology is up by 2.57%. Realty stocks too are trading well with a margin of almost 3%.

The banking index dipped 0.43 per cent as shares of Punjab National Bank, YES Bank, HDFC Bank, Axis Bank, IndusInd Bank and Bank of Baroda shed up to 2.18 per cent.

Upward trend in global market also kept the sentiments of the investors high on Thursday.

European stocks fell in early trade, although some upbeat earnings news as well as a weaker euro helped to limit overall losses ahead of the Bank of England's monetary policy decision, due later in the day.

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