Sensex gains 357 pts; pharma shares in demand

The key equity benchmarks traded with modest gains in the morning trade. The Nifty traded above the 23,350 mark. Pharma shares extended their gains for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 357.11 points or 0.48% to 74,650.95. The Nifty 50 index rose 26.70 points or 0.12% to 23,375.30.

In the broader market, the BSE 150 MidCap Index added 0.01% and the BSE 250 SmallCap Index fell 0.02%.

The market breadth was positive. On the BSE, 2,025 shares rose and 1,868 shares fell. A total of 298 shares were unchanged.

New Listings:

Shares of Manika Plastech were currently trading at Rs 41 at 10:15 IST on the BSE, representing a discount of 4.65% as compared with the issue price of Rs 43.

The scrip was listed at 113, matching the initial public offer (IPO) price.

So far, the stock has hit a high of Rs 43 and a low of Rs 40.86. On the BSE, over 4.10 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Pharma index rose 1.08% to 26,999.30. The index jumped 3.26% in the three consecutive trading sessions.

Wockhardt (up 4.17%), Mankind Pharma (up 3.78%), Sun Pharmaceutical Industries (up 2.43%), Biocon (up 1.96%), Laurus Labs (up 1.67%), Torrent Pharmaceuticals (up 1.66%), Piramal Pharma (up 1.29%), Dr Reddys Laboratories (up 1.22%), Lupin (up 0.89%) and Zydus Lifesciences (up 0.78%) gained.

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