02 Feb 11.10 AM: Indices open with strong gains; pharma stocks rally

02 February 2006

The markets have recovered from yesterday afternoon's fall, helped by a positive closing by the US indices yesterday and recovery across most Asian markets.

The Sensex opened the day at 9891 and saw a high of 9954. The index is trading higher by 95 points at 9954 at 11.10 AM.

The Nifty opened at 2972 and saw a high of 2997. The index is trading at 2995, higher by 23 points.

Cipla is the best performer among index stocks after the company said its board will meet next week to consider a bonus issue and capital raising programmes. The stock is trading more than 10 per cent higher.

Other pharma stocks Sun Pharma, Dr. Reddy's and Ranbaxy have also notched up good gains in early trades.