May 26, 2020 Tuesday, 02:24 Hrs
 Home |   IFCI Group  |   About Us  |   Our Network  |   Contact Us  |   Career
SENSEX  30,672.59  -260.31 
BSE
Home   Equity   News   Mid Session  
Detailed News
Back
Sensex, Nifty off day's low; pharma stocks in green
03-Apr-20   11:27 Hrs IST

Key equity indices trimmed losses in mid-morning trade. Pharma stocks bucked trend amid broad based selling pressure. The Nifty held above 8100 mark.

At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 407.72 points or 1.44% at 27,857.59. The Nifty 50 index was down 111.40 points or 1.35% at 8,142.40.

In the broader market, the S&P BSE Mid-Cap index was down 0.45% while the S&P BSE Small-Cap index was down 0.57%. The decline in both these indices was lesser than the Sensex.

The market breadth was negative. On the BSE, 840 shares rose and 872 shares fell. A total of 117 shares were unchanged. In Nifty 50 index, 17 stocks advanced while 33 stocks declined.

Buzzing Index:

The Nifty Pharma index jumped 2.41% to 7,195.80.

Cipla (up 7.26%), Sun Pharmaceutical Industries (up 5.37%), Glenmark Pharmaceuticals (up 4.22%), Biocon (up 2.64%) and Divi's Laboratories (up 0.23%) were top gainers in pharmaceutical segment.

Lupin jumped 7.39% to Rs 621.85 after the drug major said its Aurangabad facility received establishment inspection report from the US drug regulator. The inspection for the facility was carried out by the USFDA between 10 and 14 February 2020 and concluded with no observations.

Stocks in Spotlight:

Adani Ports and Special Economic Zone rose 1.04% to Rs 247.45 after the company said it recorded 7% cargo volume growth to 223 MMT in FY20 over FY19. Adani Ports and Special Economic Zone for the twelve-month period ended 31 March 2020 achieved a throughput of 223 MMT across its nine operating ports in India thus registering seven percent cargo volume growth on year on year basis, the company said in a statement on Thursday, 2 April 2020.

Tata Motors slumped 4.19% to Rs 65.10 after the company announced that its sales in the domestic & international market in March 2020, stood at 12,924 units, down 82.69% compared with 74,679 units during March 2019. Total commercial vehicle sales slumped 87% to 7,123 units, while total passenger vehicle sales slipped 68% to 5,676 units in March 2020 over March 2019.

Global Markets:

Asian shares were trading lower on Friday. An overnight surge in oil prices, which saw US crude futures soaring more than 24% failed to cheer Asian markets.

On the economic data front, a private survey released Friday showed China's services sector shrank further in March. The Caixin/Markit services Purchasing Managers' Index (PMI) for March was at 43 following a record low of 26.5 in February. PMI readings below 50 indicate contraction, while figures above that level signify an expansion.

US stocks on Thursday finished near the highs of the session, as investors appeared to focus on hope that a détente between some of the biggest oil producers on the planet might be achieved to substantially curb oil production and stabilize battered prices.

US President Donald Trump reportedly tweeted that he had been in contact with Saudi Arabian Crown Prince Mohammed bin Salman and that he expected the Saudis and Russia to cut production of 10 million to 15 million barrels a day.

Meanwhile, the US trade deficit narrowed to $39.9 billion in February from $45.5 billion in January.

The US Labour Department said Thursday that initial jobless claims surged to more than 6 million last week, reaching a new record as Coronavirus-related shutdowns roll through the country.

Powered by Capital Market - Live News

BSE
Enter Stock for
Company details