Sensex gains; Sun Pharma up on Ranbaxy buy

Reuters Market Eye - The BSE Sensex gains 0.22 percent, while the broader Nifty is up 0.32 percent on the back of gains in Sun Pharmaceutical Industries , which rose as much as 4 percent after a $3.2 billion deal to buy Ranbaxy Laboratories .

However, Ranbaxy shares lost as much as 3.2 percent on profit-taking. Ranbaxy shares had surged 32.6 percent in six consecutive sessions of gains till Friday's close.

Other blue-chips have also gained. Gail (India) Ltd up 2.1 percent and Larsen and Toubro up 1.2 percent.

Overseas investors bought Indian shares worth 2.32 billion rupees on Friday, provisional exchange data shows, while domestic institutional investors sold stocks worth 11.25 billion rupees.

 

(Reporting by Indulal P)