Sensex gains; defensives extend rally to record highs

Reuters Market Eye - The BSE Sensex is up 0.35 percent and the Nifty gains 0.29 percent. Consumer goods and pharmaceuticals shares extend gains to record highs, benefiting from their defensive nature in an uncertain market environment and from confidence about their growth prospects.

Hindustan Unilever gains 2.3 percent, after earlier making an all-time high at 719.10 rupees, adding to its 9.9 percent rise on Wednesday.

ITC is up 0.4 percent after hitting a record high of 371.90 rupees earlier.

Among pharmaceutical stocks, Sun Pharmaceutical Industries is up 1 percent, after making a record high of 1132.50 rupees, while Dr. Reddy's Laboratories gains 1.1 percent.

 

(Reporting by Abhishek Vishnoi)