Indices trade with minor gains; pharma shares advance

The headline equity indices traded with small gains in the morning trade. The Nifty traded above the 22,400 level. Pharma shares extended gains for the second consecutive trading session.

At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 131.35 points or 0.18% to 73,937.50. The Nifty 50 index rose 38.60 points or 0.17% to 22,417.

In the broader market, the S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index declined 0.57%.

The market breadth was negative. On the BSE, 1,461 shares rose and 2,181 shares fell. A total of 197 shares were unchanged.

Buzzing Index:

The Nifty Pharma index gained 1.14% to 19,121.90. The index advanced 1.59% in the two trading sessions.

Biocon (up 3.56%), Natco Pharma (up 2.99%), Aurobindo Pharma (up 2.64%), Dr Reddys Laboratories (up 2.64%), Zydus Lifesciences (up 2.01%), Laurus Labs (up 1.96%), Lupin (up 1.81%), Glenmark Pharmaceuticals (up 1.42%), Granules India (up 1.41%) and Ipca Laboratories (up 1.35%) advanced.

On the other hand, Glaxosmithkline Pharmaceuticals (down 1.2%), Sanofi India (down 0.42%) and Abbott India (down 0.29%) edged lower.

Stocks in Spotlight:

Gujarat Ambuja Exports gained 1.09% after the company has successfully commissioned a 120 TPD Liquid Glucose Unit at existing unit in Malda, West Bengal. With this expansion, the collective Liquid Glucose Capacity now reaches 900 TPD across five locations.

Patel Engineering advanced 1.89% the company received Letter of Acceptance (LOA) for Rs. 525.36 crore contract with Joint Venture Partner in Khammam City, Telangana, for RCC Protection Wall Project. Patel Engineering share in the contract is Rs. 267.93 crore.

RailTel Corporation of India declined 2.26%. The public sector enterprise announced that it has received a work order from State Transport Authority, Odisha, aggregating to Rs 87.85 crore.

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