Today’s Action
Benchmark indices ended in the green today. Nifty, +0.3%, Sensex, +0.4%, Model Portfolio, -0.2%; MSI Ind 47, -0.02%, Nifty Midcap -0.1%, Smallcap +0.3%.
Daily Market Review
Market Status: Uptrend Under Pressure
India’s benchmark indices continued to post gains for the third straight session taking cues from global indices.
Nifty PSU bank (+2.8%), Pharma (+1.5%) helped the market to post gains, while Media (-1.2%) tried to drag the market down. Nifty Pharma was led by Sun Pharm.Industries (+4.0%) whereas Nifty Bank was led by Icici Bank (+3.4%) and State Bank Of India (+3.0%) stocks. Zee Entertainment Ents. (-2.4%) and Upl (-1.5%) were the major losers among Nifty50 stocks.
The advance-decline ratio was slightly in favor of decliners. Of the 2,066 stocks traded on the NSE, 829 advanced, 896 declined, and 341 remained unchanged.
Stocks in News
Himachal Futr.Comms.: The Company’s board approved adding a new manufacturing facility at Hyderabad. With this addition, manufacturing capacity of optical fibre cable will expand to 10.5 mn fibre kilometre (FKM) from the existing 7 mn FKM. The stock rose 12.2% today.
Lupin: The Company received nod from EU for a drug NaMuscla, which is used to treat a rare neuromuscular disorder. It also received the FDA approval for Lurasidone Hydrochloride tablets. The stock was up 2.4% today.
Leaders Up on Volume: Iol Chemicals & Pharms. (+8.3%) and Praj Industries (+5.7%)
Leaders Down on Volume: Havell’s India (-3.4%) and Godrej Consumer Products (-2.6%)
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