Nifty below 25,450; Pharma shares decline
At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 153.05 points or 0.18% to 83,383.03. The Nifty 50 index lost 53.45 points or 0.21% to 25,415.55.
In the broader market, the S&P BSE Mid-Cap index shed 0.05% and the S&P BSE Small-Cap index added 0.21%.
The market breadth was positive. On the BSE, 1,977 shares rose and 1,509 shares fell. A total of 218 shares were unchanged.
Earnings Today:
Tata Consultancy Services (TCS) (up 0.18%), Tata Elxsi (down 0.38%), Anand Rathi (up 0.97%) and Indian Renewable Energy Development Agency (Ireda) (up 1.54%) will announce their quarterly earnings later today.
Buzzing Index:
The Nifty Pharma index fell 0.68% to 22,056.60. The index rose 0.19% in the past trading session.
Gland Pharma (down 1.11%), Dr. Reddy's Laboratories (down 1.1%), Divis Laboratories (down 0.98%), Ajanta Pharma (down 0.87%), Torrent Pharmaceuticals (down 0.83%), Zydus Lifesciences (down 0.81%), J B Chemicals & Pharmaceuticals (down 0.71%), Abbott India (down 0.65%) and Ipca Laboratories (down 0.65%) fell.
On the other hand, Glenmark Pharmaceuticals (up 2.08%) and Biocon (up 0.2%) edged higher.
Stocks in Spotlight:
Emcure Pharmaceuticals advanced 1.05% after the U.S. Food and Drug Administration (USFDA) conducted a pre-approval inspection (PAI) at its manufacturing facility (Oncology) located at G.I.D.C., Sanand, Ahmedabad, Gujarat.
Orient Technologies shed 0.59%. The company announced that it has received a purchase order worth Rs 29.86 crore from Protean eGov Technologies for the procurement, setup, and support of AWS infrastructure.
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