BROADER MARKET OUTPERFORMS; PHARMA SHARES IN DEMAND

The headline equity benchmarks continued to trade with minor cuts in morning trade. The Nifty traded below the 25,000 level after hitting the day�s high of 25,043.65 in morning trade. Pharma shares extended gains for the second consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex was down 31.70 points or 0.04% to 81,659.50. The Nifty 50 index lost 14.30 points or 0.06% to 24,996.30.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.27% and the S&P BSE Small-Cap index gained 0.43%.

The market breadth was positive. On the BSE, 2,122 shares rose and 1,488 shares fell. A total of 151 shares were unchanged.

Buzzing Index:

The Nifty Pharma index gained 0.80% to 22,735.05. The index added 0.91% in two consecutive trading sessions.

Alkem Laboratories (up 2.33%), Laurus Labs (up 2.14%), J B Chemicals & Pharmaceuticals (up 2.09%), Gland Pharma (up 1.97%), Mankind Pharma (up 1.91%), Lupin (up 1.7%), Cipla (up 1.45%), Glenmark Pharmaceuticals (up 0.99%), Sanofi India (up 0.99%) and Zydus Lifesciences (up 0.93%) rallied.

On the other hand, Granules India (down 0.7%), Natco Pharma (down 0.22%) and Divis Laboratories (down 0.11%) edged lower.

Stocks in Spotlight:

Medi Assist Healthcare Services surged 8.43% after the firm�s subsidiary, Medi Assist Insurance TPA has entered into share purchase agreement for 100% acquisition of Paramount Health Services & Insurance TPA (Paramount TPA).

JSW Energy added 1.22% after the company`s wholly owned subsidiary JSW Neo Energy has received letter of award (LoA) for setting up a wind-solar hybrid power project from Maharashtra State Electricity Distribution Company (MSEDCL).

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