Barometers trade with minor gains, pharma shares rally for 6th day

The benchmark indices traded with small gains in morning trade. The Nifty traded at the 19,800 level. Pharma stocks extended gains for the sixth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 54.28 points or 0.08% to 65,985.05. The Nifty 50 index added 17 points or 0.09% to 19,800.40.

In the broader market, the S&P BSE Mid-Cap index rose 0.07% while the S&P BSE Small-Cap index shed 0.28%.

The market breadth was positive. On the BSE, 1,883 shares rose and 1,514 shares fell. A total of 158 shares were unchanged.

Buzzing Index:

The Nifty Pharma index gained 0.94% to 16,118.35. The index jumped 4.01% in six trading sessions.

Natco Pharma (up 3.38%), Glaxosmithkline Pharmaceuticals (up 3.19%), Sanofi India (up 2.89%), Pfizer (up 2%), Cipla (up 1.86%), Alkem Laboratories (up 1.33%), Ipca Laboratories (up 1.31%), Gland Pharma (up 1.15%), Glenmark Pharmaceuticals (up 1.15%) and Biocon (up 1.11%) edged higher.

Stocks in Spotlight:

Texmaco Rail & Engineering rose 1.34% after the company announced that its board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 135.90 per share. Meanwhile, the company informed that meeting of the committee is scheduled to be held on Friday, 24 November 2023 to consider and approve the issue price, including a discount if any thereto.

Bharat Petroleum Corporation (BPCL) rallied 3.08% after the company announced that its board will meet on Wednesday, 29 November 2023, to consider the proposal of declaration of interim dividend for the financial year 2023-24. On the same day, the board will also fix the �record date� for the purpose of said dividend payout.

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