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The Nifty Pharma index closed 0.93 per cent up at 13570.3.

On an immediate basis, 17,200-17,300 is likely to provide strong support. The levels of 17,600-17,650 could be seen as the primary hurdle, followed by the recent swing high of the 17,800 zone

The stock debuted at a discount on Tuesday but soon reversed as investors saw value in the company’s business. Most analysts were also positive about the firm ahead of the IPO and had given ‘subscribe’ ratings

“We expect Q1 to be a record quarter and though the dollar rates are expected to increase in the later part of the year, the overall yield curves continue to be attractive. We will see debt capital market (DCM) issuance to continue from sectors, which have high capex intensity, like renewables, infrastructure, commodity etc,” Murugaiyan said in an interview to ETMarkets.com.

The 30-share pack Sensex advanced 657.39 points or 1.14 per cent to close at 58,465.97. Its broader peer NSE Nifty rose 197.05 points or 1.14 per cent to 17,463.80.

The Nifty Realty index closed 0.59 per cent up at 467.0.

The stock traded at a P/E multiple of 14.9, while the price-to-book value ratio stood at 0.99.

On the technical charts, the RSI of the stock stood at 48.39.

A total of 201,898 shares changed hands on the counter till time (IST).

Amfi data released for the month on Wednesday said investors poured in a net Rs 14,887.77 crore in equity oriented funds. All but one category saw inflows led by over Rs 2,000 crore in sectoral and thematic funds. Focussed funds and those investing in broader markets also saw healthy inflows.