Markets end higher as pharma stocks lead, Sensex up 118 points

MUMBAI: Key indices BSE Sensex and NSE Nifty on Tuesday ended on a higher note for the fourth consecutive session. The 30-share benchmark index closed 118.45 points or 0.36 per cent higher at 33,478.35 after getting a boost from the pharma stocks.

Dr Reddy's, Sun Pharma and Cipla were among the major gainers with their stocks rising up to 4.99 per cent.

The 50-share Nifty edged 28.15 points or 0.27 per cent higher to end at 10,326.90 due to strong pharma, IT and telecom stocks.

The Nifty Pharma index ended 2.2 per cent higher while Reliance extended gains into a fourth day to end up 1.3 per cent after Goldman Sachs raised its target price on the stock.

"Markets are riding on momentum and though there could be profit-booking by derivatives expiry next week, I expect Nifty to cross 10,500," said Krish Subramanyam, co-head - equity advisor at Altamount Capital.