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Benchmarks hover near opening levels; Pharma shares rises

Published on May 18, 2024 12:01

The key equity indices continued to trade near flat line with positive bias in the special trading session. The Nifty traded near the 22,500 level. Pharma shares rebounded after declining in the past trading session.

At 11:45 IST, the barometer index, the S&P BSE Sensex advanced 63.4 points or 0.09% to 73,984.77. The Nifty 50 index added 28.35 points or 0.13% to 22,494.45.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.57% while the S&P BSE Small-Cap index gained 0.87%.

The market breadth was strong. On the BSE, 2,365 shares rose and 911 shares fell. A total of 142 shares were unchanged.

Buzzing index:

The Nifty Pharma index rose 0.76% % to 19,126.35. The index shed 0.06% in the past trading sessions.

Zydus Lifesciences (up 5%), J B Chemicals & Pharmaceuticals (up 3.56%), Aurobindo Pharma (up 3%), Glenmark Pharmaceuticals (up 2.76%) and Ipca Laboratories (up 2.54%) were the top gainers.

Among the other gainers were Mankind Pharma (up 1.74%), Granules India (up 1.51%), Dr Reddys Laboratories (up 0.86%), Sanofi India (up 0.77%) and Lupin (up 0.65%).

Stocks in spotlight:

Go Fashion (India) added 2.05% after the company said that it has entered into a new five-year franchise agreement with Apparel Group, a leader in global fashion and lifestyle retail.

Bandhan Bank rose 0.77%. The company �s net profit tumbled 93.24% to Rs 54.62 crore in Q4 FY24 as compared to Rs 808.29 crore recorded in Q4 FY23. However total income grew by 20.13% to Rs 5,883.46 crore in the fourth quarter of FY24 from Rs 4,897.39 crore posted in Q4 FY23.

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