Benchmarks trade with small gains; pharma shares jump

The key equity benchmarks continued traded with minor gains in morning trade with traders awaiting Q2 earnings season. Further, investors will also keep a close eye on quarterly business updates and ongoing IPO activity. Nifty traded above 25,050 mark.

Pharma shares jumped after declining in the past trading session.

At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 58.97 points or 0.07% to 81,833.97. The Nifty 50 index added 35.05 points or 0.14% to 25,081.70.

In the broader market, the S&P BSE Mid-Cap index added 0.40% and the S&P BSE Small-Cap index fell 0.03%.

The market breadth was negative. On the BSE, 1,815 shares rose and 1,851 shares fell. A total of 183 shares were unchanged.

Buzzing Index:

The Nifty Pharma index added 1.14% to 21,955.55. The index declined 0.77% in the past trading session.

Lupin (up 3.82%), Aurobindo Pharma (up 3.59%), Dr Reddys Laboratories (up 1.73%), Zydus Lifesciences (up 1.68%), Piramal Pharma (up 1.3%), Biocon (up 1.23%), Divis Laboratories (up 1.07%), Wockhardt (up 0.87%), Glenmark Pharmaceuticals (up 0.81%) and Cipla (up 0.77%) advanced.

Stocks in Spotlight:

Eicher Motors shed 0.73%. The company said that VE Commercial Vehicles (VECV) would make an investment of Rs 544 crore for the production and final assembly of the Volvo Group?s globally 12-speed automated manual transmission (AMT).

HFCL rose 0.87% after the company announced that it has secured an export order valued at $34.19 million (approximately Rs 303.35 crore) for the supply of optical fiber cables. The order has been bagged through HFCL?s overseas wholly owned subsidiary from a renowned international customer. According to the company, the optical fiber cables will be manufactured and supplied as per the customer?s specifications, with the execution timeline extending up to April 2026.

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