Partner With Us NRI

Market at day`s low, pharma shares slip, VIX soars 6.6%

Published on Oct 25, 2023 12:36

The headline equity indices hit the day`s low in early afternoon trade. The Nifty traded near the 19,200 level after hitting the day`s high at 19,347.30 in morning trade. Pharma shares extended losses for the fourth consecutive trading session.

At 12:29 IST, the barometer index, the S&P BSE Sensex, was down 248.79 points or 0.39% to 64,323.09. The Nifty 50 index lost 79.15 points or 0.41% to 19,202.60.

In the broader market, the S&P BSE Mid-Cap index declined 0.29% while the S&P BSE Small-Cap index fell 0.26%.

The market breadth was negative. On the BSE, 1,513 shares rose, and 2,031 shares fell. A total of 141 shares were unchanged.


The NSE`s India VIX, a gauge of the market`s expectation of volatility over the near term, surged 6.60% to 11.63. The Nifty 26 October 2023 futures were trading at 19,216.85, at a premium of 14.25 points as compared with the spot at 19,202.60.

The Nifty option chain for the 26 October 2023 expiry showed maximum Call OI of 170.6 lakh contracts at the 19,300 strike price. Maximum Put OI of 120.6 lakh contracts were seen at 19,000 strike price.

Buzzing Index:

The Nifty Pharma index fell 0.61% to 14,820.45. The index slipped 3.33% in four trading sessions.

Laurus Labs (down 1.96%), Cipla (down 1.69%), Lupin (down 1.63%), Ipca Laboratories (down 1.21%), Abbott India (down 1.1%), Divis Laboratories (down 0.98%), Granules India (down 0.92%), Aurobindo Pharma (down 0.83%), Glenmark Pharmaceuticals (down 0.66%) and Natco Pharma (down 0.29%) edged lower.

On the other hand, Torrent Pharmaceuticals (up 3.32%) ,Biocon (up 1.19%) and Alkem Laboratories (up 0.74%) advanced.

Zydus Lifesciences added 0.13%. The drug major announced that it has received permission from CDSCO, India, to initiate the Phase II clinical study of NLRP3 inhibitor �ZYIL1� in patients with Amyotrophic Lateral Sclerosis (ALS). The phase 2 clinical trial will assess the safety and efficacy of ZYIL1 in Amyotrophic Lateral Sclerosis (ALS) patients. ALS is a rare, progressive and fatal neurodegenerative disease, with an average life expectancy of 3 to 5 years from the time of symptom onset.

Powered by Capital Market - Live News