Sensex wipes off opening losses; metal, pharma stocks climb

Mumbai (Maharashtra) [India], March 24 (ANI): The Indian equities markets benchmark Sensex, which started the day sharply down, wiped off losses in the late morning trade on Thursday led by good buying support in metal and pharma stocks.
The 30 stock S&P BSE Sensex was trading 48.02 points or 0.08 per cent higher at 57,732.84 points at 11.48 am, against its previous day's close at 57,684.82 points.
Earlier, the Sensex started the day deep in the red at 57,190.05 points and slumped to a low of 57,138.51 points in the early morning trade. The turned into positive later in the day. It rose to a high of 57,827.99 points.
The Sensex had lost 304.48 points or 0.53 per cent on Wednesday.
The broader Nifty 50 of the National Stock Exchange also witnessed volatile trading. The Nifty also started sharply down at 17,094.95 points and fell to a low of 17,091.15 points in the early morning trade. The Nifty later turned positive and rose to a high of 17,291.75 points.
At 11.52 am, the Nifty was trading at 17,255.00 points, which is 9.35 points or 0.05 per cent higher from its previous day's close at 17,245.65 points. The Nifty had lost 69.85 points or 0.4 per cent on Wednesday.
There was strong buying support in pharma and metal stocks.
Dr Reddy's Laboratories surged 3.67 per cent to Rs 4278.45. The scrip had gained 2.31 per cent on Wednesday. Sun Pharma was trading 1.14 per cent higher at Rs 910.80.
Tata Steel rallied for the second day. The scrip was trading 1.77 per cent higher at Rs 1354 after gaining 2.15 per cent in the previous day. UltraTech Cement rose 1.36 per cent to Rs 6320. NTPC rallied 1.12 per cent to Rs 134.95. (ANI)