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The benchmark indices extended modest gains during mid-morning trade, buoyed by strong demand in pharma stocks. The Nifty traded tad below 17,300 level, beneath its 100-DMA placed at 17326.60.
The barometer index, the S&P BSE Sensex rose 233 points or 0.40% at 57,826.49. The Nifty 50 index gained 76.15 points or 0.44% at 17,298.15.
The S&P BSE Mid-Cap index added 0.74%. The S&P BSE Small-Cap index rose 0.61%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, shares 1,762 rose and 1,286 shares fell. A total of 117 shares were unchanged.
Foreign institutional investors (FIIs) have net sold shares worth Rs 801.41 crore, while domestic institutional investors (DIIs) have net bought shares worth Rs 1,161.70 crore on 28 March 2022, as per provisional data available on the NSE.
Buzzing Index:
The Nifty Pharma index rose 1.09% to 13,710.25. The index fell 1.18% in the past two trading sessions.
Divi's Laboratories (up 2.72%), Cipla (up 1.97%), Ipca Laboratories (up 1.78%), Glenmark Pharmaceticals (up 1.59%) and Torrent Pharma (up 1.42%) were the top gainers in the Pharma segment.
Stocks in Spotlight:
Tata Power gained 1.17%. On Monday, the company announced that it has collaborated with Rustomjee Group to provide end-to-end EV charging solutions across all its residential and commercial projects in Mumbai Metropolitan Region (MMR). Under this collaboration, Tata Power will install charging infrastructure for residents of Rustomjee in Mumbai MMR. 28 EZ charging points will be set up at Rustomjee Groups' residential and commercial projects. EV owners will have the access to a 24x7 charging facility along with maintenance support.
G R Infraprojects advanced 2.32%. The EPC company announced that it has emerged as L-1 bidder for two tenders invited by National Highways Authority of India (NHAI). The first project involves construction of four lane road of existing two lane stretch from Govindpur to Rajura in Maharashtra. The bid project cost is Rs 907 crore and the project is to be completed on hybrid annuity mode. The completion date for the project is 730 days from the date of appointment while operational period is 15 years from the commercial operation date.
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