Benchmark trade with small gains; pharma shares in demand

The benchmark indices traded with tiny gains in morning trade. The Nifty traded above the 21,450 mark. Pharma shares gained for four consecutive trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 53.06 points or 0.07% to 71,536.81. The Nifty 50 index added 20.65 points or 0.10% to 21,477.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index gained 0.61%.

The market breadth was strong. On the BSE, 2,219 shares rose and 1,353 shares fell. A total of 195 shares were unchanged.

Buzzing Index:

The Nifty Pharma index advanced 1.38% to 16,402.45. The index jumped 2.75% in four trading sessions.

Zydus Lifesciences (up 4.66%), Laurus Labs (up 3.56%), Lupin (up 3%), Torrent Pharmaceuticals (up 1.94%), Biocon (up 1.77%), Sun Pharmaceuticals Industries (up 1.61%), Granules India (up 1.6%), Divis Laboratories (up 1.48%), Aurobindo Pharma (up 1.33%) and Dr Reddys Laboratories (up 1.29%) advanced.

On the other hand, Sanofi India (down 0.48%) and Glaxosmithkline Pharmaceuticals (down 0.22%) edged lower.

Stocks in Spotlight:

IRB Infrastructure Developers gained 3.23%. The highways infrastructure developer announced that it has received a letter of award (LoA) from the National Highways Authority of India (NHAI) for a project worth Rs 1,683 crore.

Zydus Lifesciences jumped 4.09% after the comapany said that it has received permission from the US drug regulator, to initiate the phase II clinical study of NLRP3 inhibitor, ZYIL1 in patients with Parkinson�s disease.

Mazagon Dock Shipbuilders rallied 2.59% after the company informed that it has signed shipbuilding contracts with the European client for construction of hybrid powered vessels worth $ 42 million.

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