Broader markets consolidated near 2-month highs on Thursday as power stocks, banks, metals and software companies attracted buyers at lower levels. However, export oriented pharma stocks came under selling pressure on news that the US government may take steps to curtail drug pricing in the world's largest pharmaceutical market.

The Nifty, meanwhile, rose 20 points to hit 8,400 levels, retracing from an early morning high of 8,416 points, its highest level since November 11. The index is likely to consolidate at current levels as it rises for the third session in a row. Sentiment has been upbeat on Dalal Street this week as traders took advantage of beaten down prices to buy into frontline metal shares, in particular.

Here are the major events of the trading day:

* The Sensex gains 91 points to quote at 27,232 points on the Bombay Stock Exchange. Power Grid Corp is the top gainer on the index while Dr Reddy's slumped 1.4% as the top loser. Tata Steel was the top traded counter on the Sensex.
* Power Grid, NTPC, Tata Power, Infosys and Larsen & Toubro gained 2-4.9 percent on the Nifty and were among 24 shares advancing on the index.
* Idea Cellular, IndusInd Bank, Coal India, Adani Ports and Aurobindo Pharma dropped between 1.4-2.1% and were among 27 shares that slipped on the Nifty.
* Yes Bank was the top traded stock by value and the private lender came under focus after larger rival IndusInd Bank announced a spectacular third quarter earnings. Also showing heavy trading activity were Sun Pharma and Infosys.
* NHPC, Punjab National Bank and MMTC were the top traded shares by volume. All three gained between 3.1-5.5%
* Broader market indices were quiet with the Nifty 100, 200 and 500 rising between 0.1-0.2%. The mid cap and the small cap indices slipped just a bit.
* Mild profit booking was seen on auto, FMCG, Realty and of course, pharma stocks. Bulls were seen prancing on software companies, banks and non banking finance companies.
* Overall, the bears took a step forward on Dalal Street as 1,168 shares fell compared with 1068 that rose. The rally is seen shifting sideways after three days of consistent gains.
* Sentiment dipped on the derivatives market as well where 111 futures fell compared with 66 that gained ground.