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Benchmark trade with small gains; pharma shares in demand

Published on Dec 18, 2023 10:35

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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