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The frontline indices traded with decent gains in mornings trade. The Nifty traded above the 19,550 mark. Pharma stocks extended gains for the third consecutive trading session.
The barometer index, the S&P BSE Sensex, was up 201.21 points or 0.31% to 65,922.46. The Nifty 50 index added 59.40 points or 0.30% to 19,576.40.
In the broader market, the S&P BSE Mid-Cap index rose 0.39% while the S&P BSE Small-Cap index gained 0.46%.
The market breadth was strong. On the BSE, 2,064 shares rose and 1,312 shares fell. A total of 192 shares were unchanged.
Results Today:
PB Fintech (up 0.12%), Barbeque-Nation Hospitality (down 0.90%), Bayer Cropscience (up 0.47%), Emami (up 1.57%), Eris Lifesciences (up 3.35%), Gland Pharma (down 1.15%), Godrej Consumer Products (up 1.35%), India Cements (down 0.33%), Indigo Paints(up 0.73%), ITD Cementation India (up 2.15%), Krishna Institute of Medical Sciences (up 0.96%), Medplus Health Services (up 1.47%), Olectra Greentech (down 0.78%), Paras Defence and Space Technologies (up 1.18%), The Ramco Cements (down 0.50%), Ramco Systems (up 1.38%), RateGain Travel Technologies (up 2.23%), Sobha (up 0.23%), Sun Pharma Advanced Research Company (up 1.12%), Tata Chemicals (down 0.59%), Torrent Pharmaceuticals (up 0.59%), Ujjivan Financial Services (down 0.22%), and Whirlpool of India (down 0.14%) will announce their quarterly earnings later today.
New Listing:
Shares of Yatharth Hospital and Trauma Care Services were currently trading at Rs 330.75 at 10:14 IST on the BSE, representing a premium of 10.25% compared with the issue price of Rs 300.
The scrip was listed at a price of Rs 300, matching the initial public offer (IPO) price.
So far, the stock has hit a high of 340.90 and a low of 304. On the BSE, over 9.03 lakh shares of the company were traded in the counter so far.
Buzzing Index:
The Nifty Pharma index rose 1.09% to 15,406.60. The index gained 3.1% in three trading sessions.
Sanofi India (up 6.38%), Lupin (up 2.23%), Divis Laboratories (up 2.19%), Ipca Laboratories (up 2.02%) and Zydus Lifesciences (up 1.94%), Sun Pharmaceuticals Industries (up 1.78%), Aurobindo Pharma (up 1.66%), Laurus Labs (up 1.45%), Glenmark Pharmaceuticals (up 1.42%) and Abbott India (up 1.41%) edged higher.
On the other hand, Gland Pharma (down 1.59%), Alkem Laboratories (down 0.63%) and Cipla (down 0.52%) declined.
Stocks in Spotlight:
Delhivery fell 0.72%. The logistics solution provider reported a consolidated net loss of 89.48 crore in Q1 FY24 as against a net loss of Rs 399.34 crore posted in Q1 FY23. Revenue from operations increased 10.5% year on year to Rs 1,929.78 crore in the quarter ended 30 June 2023.
Alembic Pharma rose 0.80%. The pharmaceutical company reported a consolidated net profit of Rs 120.60 crore in Q1 FY24 as against a net loss of Rs 65.88 crore in Q1 FY23. Revenue from operations jumped 17.7% to Rs 1,486.15 crore in the June quarter from Rs 1,262.14 crore recorded in Q1 FY23.
Affle (India) added 0.50%. The company reported 21.4% rise in consolidated net profit to Rs 66.18 crore on 17% increase in net revenue from operations to Rs 406.58 crore in Q1 FY24 over Q1 FY23.
Global Markets:
Asian stocks were mostly trading lower as investors look ahead to China's inflation figures and trade balance later this week. China will release its trade balance for Tuesday and inflation data on Wednesday, which will give clues to the country's recovery trajectory.
Wall Street stocks notched their longest daily losing streak in three months, sliding on Friday as investors weighed weaker-than-expected US jobs growth and earnings from Big Tech ?megacaps?.
The U.S. economy added 187,000 jobs in July, up from 185,000 in June. The unemployment rate ticked lower to 3.5% from 3.6% in June.
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