Sensex Up 100pts; IDBI Dips 4%, Pharma Stocks Outperform

Benchmark equity indices held small gains in Wednesday’s trade, tracking subdued global markets after US FOMC minutes revealed that members favour a ‘restrictive’ policy for longer.

The BSE Sensex erased the opening losses and was up nearly 100 points at 66,050. The NSE Nifty50 held the 19,800-mark.

Among the Sensex 30 shares, Tata Motors, Sun Pharma, Power Grid and NTPC held notable gains, while TCS, Kotak Bank and ICICI Bank were on slippery ground.

Meanwhile, the BSE MidCap index was up 0.1 per cent, while the SmallCap index slipped 0.1 per cent.

Among stocks, IDBI Bank dipped 4 per cent after the govt cancelled the bid process to select a asset valuer for its sale.