Exporting firms have had a hay day in the markets today. Know why

Export-oriented stocks across the investing spectrum were in heavy demand on a day where the main index swung back into gains despite a negative global event.

Shares in the pharma, IT and the textiles sector were trading near fresh highs on very heavy volumes.

Dr. Reddy's and Cipla, both pharma giants, were the top gainers on the Nifty. Leading software exporter TCS was up x percent ahead of its first quarter earnings. 127 pharma companies rose compared with just 27 that traded lower on the BSE.

Within the textile space Welspun India hit a fresh high at 703 rupees. Nearly 150 stocks in the textile listed segment gained ground, some of them rising the maximum allowed 20 percent in one day. Just 54 textile stocks lost ground on the Bombay Stock Exchange.


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