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Shares trade with significant cuts; pharma shares fall for 4th day

Published on Jul 26, 2022 14:27

The domestic equity barometers continued to trade with significant losses in mid-afternoon trade. The Nifty traded below the 16,550 level. Pharma shares extended losses for fourth consecutive session.

At 14:24 IST, the barometer index, the S&P BSE Sensex, was down 335.24 points or 0.60% to 55,430.98. The Nifty 50 index lost 106.75 points or 0.64% to 16,524.25.

In the broader market, the S&P BSE Mid-Cap index fell 0.95% while the S&P BSE Small-Cap index declined 0.81%.

The market breadth was negative. On the BSE, 1,196 shares rose and 2,066 shares fell. A total of 148 shares were unchanged.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper fell to 7.384% as compared with 7.391% at close in the previous trading session.

In the foreign exchange market, the rupee was higher against the dollar. The partially convertible rupee was hovering at 79.7375, compared with its close of 79.7875 during the previous trading session.

MCX Gold futures for 5 August 2022 settlement rose 0.10% to Rs 50,589.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.04% to 106.52.

In the commodities market, Brent crude for September 2022 settlement added $1.67 cents or 1.59% to $106.82 a barrel.

Buzzing Index:

The Nifty Pharma index fell 1.01% to 12,362.45. The index has fallen 2.75% in four sessions.

Aurobindo Pharma (down 3.28%), Dr Reddys Laboratories (down 3.08%), Glenmark Pharmaceuticals (down 2.43%), Divis Laboratories (down 1.78%) and Laurus Labs (down 1.74%) were the top losers.

Among the other losers were Torrent Pharmaceuticals (down 1.65%), Granules India (down 1.5%), Biocon (down 1.3%), Alkem Laboratories (down 1.06%) and Gland Pharma (down 0.93%).

On the other hand, Natco Pharma (up 1.42%) ,Ipca Laboratories (up 0.93%) and Alembic Pharmaceuticals (up 0.61%) moved up.

Sun Pharmaceutical Industries shed 0.40%. The company and Cassiopea today announced the signing of addendums to the license and supply agreements for WINLEVI (clascoterone) cream 1% expanding the territory to include Japan, Australia, New Zealand, Brazil, Mexico and Russia.

In 2021, Sun Pharma and Cassiopea had signed license and supply agreements for the United States and Canada markets. Sun Pharma launched WINLEVI in the US market in November 2021.

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