Equity indices upbeat in early trade, Cipla gains by 14 percent in opening bell

Equities trading firm during early hours on April 09 in line with Asian peers after Wall Street's overnight rally with investors hoping that coronavirus pandemic in the United States was nearing its peak. At 10:15 am, the BSE S-P Sensex was up by 785 points or 2.62 per cent at 30,679 while the Nifty 50 edged higher by 245 points or 2.8 per cent at 8,993. All sectoral indices at the National Stock Exchange were in the green with Nifty pharma up by 5.6 per cent, auto by 4.8 per cent, metal by 4.1 per cent and private bank by 3.7 per cent. Among stocks, Cipla jumped by 14 per cent to Rs 584.50 per share after it got final approval for a key abbreviated new drug application from the US Food and Drug Administration. However, Hindustan Lever was down by 1.6 per cent. Meanwhile, Asian shares rose on hopes the COVID-19 pandemic is nearing a peak and that governments will roll out more stimulus measures.