Indian shares rise one per cent lifted by pharma

Indian shares ended up one per cent yesterday in broad-based buying, led by a surge in pharma stocks, even as global markets remained muted, anticipating hefty interest rate hikes from a host of central banks.

The NSE Nifty 50 index rose 1.1 per cent to 17,816.25 and the S&P BSE Sensex ended up 0.98 per cent at 59,719.74.

People think that the inflation problem in India is not as severe as abroad. Other thing is that we have enough domestic liquidity. We don’t have any large Initial Public Offerings (IPOs) that are sucking out money,” said Samrat Dasgupta, Chief Executive Officer, Esquire Capital Investment Advisors.

Edits by EP News Bureau

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