Nifty above 10,200 mark; Pharma stocks gain
At 3:14 PM, the BSE Sensex was trading at 33,247, up 278 points, while the Nifty50 index was trading at 10,208, up 94 points.
The BSE Midcap and the BSE Smallcap indices were up 1.02% and 1.93%, respectively.
Dr. Reddy’s stock gained over 2% after its US subsidiary Promius Pharma filed for New Drug Application for its migraine candidate.
Axis Bank stock fell 2% after the RBI asked its board to reconsider fourth three-year term it handed to CEO Shikha Sharma, as per media reports.
Lupin surged 5% after the company announced the successful facility review carried out by Health Canada for its Pithampur Unit 2, Indore manufacturing facility.
Pharma shares gained. Cipla (up 3.72%), Dr Reddy's Laboratories (up 2.14%), Glenmark Pharmaceuticals (up 1.3%), Cadila Healthcare (up 2.01%), Sun Pharmaceutical Industries (up 1.97%), GlaxoSmithKline Pharmaceuticals (up 1.56%), Aurobindo Pharma (up 3.04%) and Wockhardt (up 1.89%) rose. Alkem Laboratories (down 1.43%) fell.
Shares of Karda Construction were trading at Rs142.80, down by 21%. The stock debuted at Rs 136, a discount of 24.44% to the IPO price.
Volatility index India VIX gained 0.74% to 15.8750.
Cipla (+5.5%), Lupin (+5.3%), Kotak Mahindra Bank (+4.7%), Adani Ports (+3.8%) and Tata Motors (+2.7%) were the top gainers on Nifty50.
ICICI Bank (-5.7%), IOC (-3.7%), Axis Bank (-2.6%), Coal India (-1.9%) and SBI (-1.3%) were the top losers in today’s trade.
Out of 2,052 stocks traded on the NSE, 1,402 advanced, 318 declined and 332 remained unchanged today.
A total of 11 stocks registered a fresh 52-week high in trade today, while 68 stocks touched a new 52-week low on the NSE.