Nifty trades above 22,650; pharma share advance
At 14:30 IST, the barometer index, the S&P BSE Sensex jumped 456.45 points or 0.67% to 72,868.87. The Nifty 50 index rose 131.40 points or 0.59% to 22,688.60.
In the broader market, the BSE 150 MidCap Index gained 1.05% and the BSE 250 SmallCap Index added 1.02%.
The market breadth was positive. On the BSE, 2,668 shares rose and 1,631 shares fell. A total of 236 shares were unchanged.
Economy:
The World Bank raised India?s FY27 GDP growth forecast to 7.1% from 6.6%, citing resilient domestic demand and strong momentum in consumption, investment and exports. Investment and exports grew around 12% in Q1 FY27, while services remained the largest driver of domestic growth. The bank also raised its 2026 South Asia growth forecast to 6.9% from 6.3%, while lowering the forecast for the region excluding India to 3.6% from 4.1%. Higher energy prices and El Ni?o remain key risks to the outlook.
Meanwhile, India?s services sector strengthened in September, with the seasonally adjusted HSBC India Services PMI Business Activity Index rising to 55.2 from 54.1 in August, marking the strongest growth since June. However, the average growth during Q2 FY27 was the weakest since the quarter ended March 2022. The improvement was supported by stronger domestic demand, while export business continued to expand at a slower pace. Input-cost pressures eased to a 10-month low, reducing the need for price increases, while service providers? expectations for future activity improved for the second consecutive month.
Buzzing Index:
The Nifty Pharma index rose 1.04% to 26,388.80. The index fell 3.06% in the past three trading sessions.
Wockhardt (up 4.68%), Laurus Labs (up 3.14%), Divis Laboratories (up 3.03%), Gland Pharma (up 2.66%), Ajanta Pharma (up 2.19%), Zydus Lifesciences (up 2.19%), Sai Life Sciences (up 2.03%), Piramal Pharma (up 1.27%), Alkem Laboratories (up 1.15%) and Lupin (up 0.99%) jumped.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.04% to 7.210 compared with the previous session close of 7.213.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 96.3900 compared with its close of 96.3550 during the previous trading session.
MCX Gold futures for 4 December 2026 settlement rose 0.30% to Rs 1,49,766.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.13% to 102.04.
The United States 10-year bond yield shed 0.77% to 5.272.
In the commodities market, Brent crude for December 2026 settlement declined 97 cents or 0.97% to $ 99.35 a barrel.
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