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Sensex jumps 254 points; pharma, IT stocks drive gains

BSE Sensex ended 254.03 points or 0.50% higher at 51,279.51; NSE Nifty rose 76.40 points or 0.51% to 15,174.80

Extending its gains for the third straight session, equity benchmark Sensex jumped over 254 points on March 10 tracking gains in pharma, IT and auto shares amid largely positive cues.

The 30-share BSE index ended 254.03 points or 0.50% higher at 51,279.51, and the broader NSE Nifty rose 76.40 points or 0.51% to 15,174.80.

Bajaj Finance was the top gainer in the Sensex pack, rising around 2%, followed by Sun Pharma, Tech Mahindra, Axis Bank, Bajaj Auto and Infosys.

On the other hand, ONGC, Kotak Bank, ITC, HDFC Bank and PowerGrid were among the laggards.

According to Binod Modi, Head — Strategy at Reliance Securities, domestic equities extended gains for the third consecutive day mainly aided by favourable global cues.

IT, metals and pharma recorded sharp rebound over 1%, while a strong buying was seen in automobile stocks also.

Barring, PSU banks, most of the key sectoral indices ended in green. Unlike March 9, midcap and small cap stocks attracted investor interest on Wednesday again.

Elsewhere in Asia, bourses in Shanghai and Seoul ended with losses, while Hong Kong and Tokyo settled on a positive note.

Stock exchanges in Europe were largely trading with gains in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.59% lower at $67.12 per barrel.

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