Market trade in negative terrain; pharma shares rally for 6th day
Pharma shares witnessed buying interest for six consecutive trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 107.51 points or 0.13% to 80,891.89. The Nifty 50 index shed 41.45 points or 0.17% to 24,944.95.
In the broader market, the BSE 150 MidCap Index declined 0.33% and the BSE 250 SmallCap Index fell 0.37%.
The market breadth was negative. On the BSE, 1,678 shares rose and 2,352 shares fell. A total of 275 shares were unchanged.
Buzzing Index:
The Nifty Pharma Index jumped 1.78% to 28,933.45. The index jumped 6.75% in the six consecutive trading sessions.
Gland Pharma (up 6.62%), Sai Life Sciences (up 5.64%), Divis Laboratories (up 5%), Laurus Labs (up 4.33%), Glenmark Pharmaceuticals (up 3.49%), Wockhardt (up 2.93%), Mankind Pharma (up 2.92%), Alkem Laboratories (up 2.69%), Zydus Lifesciences (up 2.55%) and Aurobindo Pharma (up 1.86%) surged.
Global Market:
Dow futures rose 362 points, signalling a strong opening for US stocks.
Most Asian indices traded higher on Monday, 9 November 2026, as investors assessed the latest US market rebound, fresh economic data and the outlook for interest rates. Trading remained cautious following last week's sharp volatility in technology and semiconductor stocks. Investors also monitored developments in US-China trade relations and movements in crude oil prices.
China's inflation data released on Monday showed producer prices rising 5.7% year-on-year in October, accelerating from 5% in September. Consumer inflation slowed to 0.7% from 0.9%, while core inflation eased to 0.8% from 1%.
The data pointed to persistent cost pressures at the producer level, while subdued consumer demand continued to limit broader price increases.
US stocks ended mixed on Friday, 06 November 2026, as technology shares recovered from the previous session's sharp sell-off. The S&P 500 rose 0.31% to 7,376.86, while the Nasdaq Composite advanced 1.09% to 24,579.42. The Dow Jones Industrial Average declined 0.46% to 51,285.73.
Semiconductor and AI-related stocks led Friday's recovery. Advanced Micro Devices (AMD) surged around 11%, while Nvidia gained 2.8% and Micron Technology advanced 5.1%. Intel also climbed 7.7% as investors bought beaten-down technology stocks. IREN jumped 20% following stronger-than-expected revenue and growth in its AI cloud business.
Airbnb gained 11.7% after reporting stronger third-quarter demand and raising its full-year revenue growth outlook to the high teens. The company also lifted its adjusted EBITDA margin forecast to around 36%.
The US labour market delivered a stronger-than-expected performance in October. Non-farm payrolls increased by 165,000, against expectations of around 65,000. September's job additions were revised upwards to 60,000 from 29,000. The unemployment rate declined to 4.1% from 4.2%.
Average hourly earnings rose 0.4% month-on-month and 3.1% year-on-year. The stronger employment data reinforced expectations that the Federal Reserve could raise interest rates in December. Market-implied odds of a 25-basis-point increase rose to around 79%, compared with 71% a week earlier.
The next major US data release is the October consumer price index (CPI), scheduled for Tuesday, 10 November 2026. The reading will be important in assessing whether inflationary pressures could prompt further monetary tightening.
Brent crude futures declined in early Monday trading followed by comments from US President Donald Trump that fresh attacks on Iran were unlikely if negotiations to end the conflict continued.
Brent had fallen 17% last week, marking its steepest weekly decline since the start of the Covid-19 pandemic. However, reports of attacks on vessels near the Strait of Hormuz kept geopolitical risks in focus. Iraq also reached an understanding with the US to allow oil exports through the strait using a shipping lane near Oman.
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