Stock market update: Nifty Pharma index falls 0.1%
NEW DELHI: The Nifty Pharma index closed on a negative note on Thursday.
Shares of Ajanta Pharma Ltd.(up 3.16 per cent), Torrent Pharmaceuticals Ltd.(up 1.66 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.62 per cent), Dr. Reddy's Laboratories Ltd.(up 0.86 per cent) and Mankind Pharma Ltd.(up 0.48 per cent) ended the day as top gainers in the pack.
On the other hand, Granules India Ltd.(down 2.3 per cent), Laurus Labs Ltd.(down 1.44 per cent), Cipla Ltd.(down 1.25 per cent), Natco Pharma Ltd.(down 1.06 per cent) and Alkem Laboratories Ltd.(down 0.8 per cent) finished as the top losers of the day.
The Nifty Pharma index closed 0.1 per cent down at 22036.15.
Benchmark NSE Nifty50 index ended down 253.21 points at 24888.2, while the BSE Sensex stood down 823.16 points at 81691.98.
Live Events
Among the 50 stocks in the Nifty index, 7 ended in the green, while 43 closed in the red.
Shares of Vodafone Idea, RattanIndia Power, Reliance Power, JP Power and Suzlon Energy were among the most traded shares on the NSE.
Shares of Oriental Trimex, Subros, Krishana Phoschem, Force Motors and Suven Life Sci hit their fresh 52-week highs in today's trade, while Navkar Builders, Bluspring Enterprises Ltd., Shree Ram Proteins, Digitide Solutions Ltd. and Gensol Engg hit their fresh 52-week lows.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
6 hours ago
- Economic Times
Dalal Street Week Ahead: Technical indicators signal caution, not panic
The Nifty experienced a setback, failing to sustain a breakout from its month-long consolidation phase, closing with a weekly loss of 1.14%. Geopolitical tensions, particularly the Israel-Iran conflict, are expected to influence global equity markets, including India. Despite these uncertainties, the Indian market demonstrates resilience, remaining within the 24500-25100 range. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of .) An attempt to break out of a month-long consolidation fizzled out as the Nifty declined and returned inside the trading zone it had created for itself. Over the past five sessions, the markets consolidated just above the upper edge of the trading zone; however, this failed to result in a breakout as the markets suffered corrective trading range stayed wider on anticipated lines; the Index oscillated in a 749-point range over the past week. The volatility rose; the India Vix climbed 3.08% to 15.08 on a weekly basis. The headline Index closed with a net weekly loss of 284.45 points (-1.14%)We have a fresh set of geopolitical tensions to deal with Israel attacking Iran. The global equity markets are likely to remain affected and India will be no exception to this. Having said this, the Indian markets are relatively stronger than their peers and are likely to stay away. Despite the negative reaction to the global uncertainties, Nifty has shown great resilience and has remained in the 24500-25100 trading zone in which it has been trading for over a month now. There are high possibilities that over the coming week, the Nifty may stay volatile and oscillate in a wide range, but it is unlikely to create any directional bias. A sustainable trend would emerge only after Nifty takes out 25100 on the upside or violates the 24500 coming week is likely to see the levels of 25100 and 25300 acting as resistance points. The supports are likely to come in at 24500 and 24380 weekly RSI stands at 57.67; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal pattern analysis of the weekly chart shows that the Nifty has failed to break above the rising trendline resistance. This trendline begins from 21150 and joins the subsequent higher bottoms. Besides this, it reinforces the 25100 level as a strong resistance point. For any trending upmove to emerge, it would be crucial for the Index to move past this level it is unlikely that the Nifty will violate 24500 levels. The options data shows very negligible call writing below 24500 strikes, increasing the possibility of this level staying defended over the coming days. Unless there is a situation with more gravity to be dealt with, the markets may stay largely in a defined trading sector rotation stays visible in favor of traditionally defensive pockets and low-beta stocks. We continue to recommend a cautious stance as long as the Index does not move past the 25100 level and stays above that point. Until then, a highly stock-specific approach is recommended while guarding profits at higher our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed Rotation Graphs (RRG) show that the Nifty Midcap 100 has rolled inside the leading quadrant and is set to outperform the broader markets relatively. The Nifty PSU Bank and PSE Indices are also inside the leading quadrant; however, they are giving up on their relative Nifty Infrastructure Index has rolled inside the weakening quadrant. The Banknifty, Services Sector Index, Consumption, Financial Services, and Commodities Sector Indices are also inside the weakening quadrant. While stock-specific performance may be seen, the collective relative outperformance may Nifty FMCG Index languishes inside the lagging quadrant. The Metal and the Pharma Indices are also inside the lagging quadrant, but they are improving on their relative momentum against the broader Nifty 500 Nifty Realty, Media, Auto, and Energy Sector Indices are inside the improving quadrant; they may continue improving their relative performance against the broader Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
Time of India
6 hours ago
- Time of India
Dalal Street Week Ahead: Technical indicators signal caution, not panic
An attempt to break out of a month-long consolidation fizzled out as the Nifty declined and returned inside the trading zone it had created for itself. Over the past five sessions, the markets consolidated just above the upper edge of the trading zone; however, this failed to result in a breakout as the markets suffered corrective retracement. The trading range stayed wider on anticipated lines; the Index oscillated in a 749-point range over the past week. The volatility rose; the India Vix climbed 3.08% to 15.08 on a weekly basis. The headline Index closed with a net weekly loss of 284.45 points (-1.14%) by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Sarjapur Road: 3BHK Homes @ 1.15 Cr | Handover in 15 Months MSR Passion Square Undo We have a fresh set of geopolitical tensions to deal with Israel attacking Iran. The global equity markets are likely to remain affected and India will be no exception to this. Having said this, the Indian markets are relatively stronger than their peers and are likely to stay away. Despite the negative reaction to the global uncertainties, Nifty has shown great resilience and has remained in the 24500-25100 trading zone in which it has been trading for over a month now. There are high possibilities that over the coming week, the Nifty may stay volatile and oscillate in a wide range, but it is unlikely to create any directional bias. A sustainable trend would emerge only after Nifty takes out 25100 on the upside or violates the 24500 level. The coming week is likely to see the levels of 25100 and 25300 acting as resistance points. The supports are likely to come in at 24500 and 24380 levels. The weekly RSI stands at 57.67; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line. Live Events The pattern analysis of the weekly chart shows that the Nifty has failed to break above the rising trendline resistance. This trendline begins from 21150 and joins the subsequent higher bottoms. Besides this, it reinforces the 25100 level as a strong resistance point. For any trending upmove to emerge, it would be crucial for the Index to move past this level convincingly. Overall, it is unlikely that the Nifty will violate 24500 levels. The options data shows very negligible call writing below 24500 strikes, increasing the possibility of this level staying defended over the coming days. Unless there is a situation with more gravity to be dealt with, the markets may stay largely in a defined trading range. The sector rotation stays visible in favor of traditionally defensive pockets and low-beta stocks. We continue to recommend a cautious stance as long as the Index does not move past the 25100 level and stays above that point. Until then, a highly stock-specific approach is recommended while guarding profits at higher levels. In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. Relative Rotation Graphs (RRG) show that the Nifty Midcap 100 has rolled inside the leading quadrant and is set to outperform the broader markets relatively. The Nifty PSU Bank and PSE Indices are also inside the leading quadrant; however, they are giving up on their relative momentum. The Nifty Infrastructure Index has rolled inside the weakening quadrant. The Banknifty, Services Sector Index, Consumption, Financial Services, and Commodities Sector Indices are also inside the weakening quadrant. While stock-specific performance may be seen, the collective relative outperformance may Nifty FMCG Index languishes inside the lagging quadrant. The Metal and the Pharma Indices are also inside the lagging quadrant, but they are improving on their relative momentum against the broader Nifty 500 Index. The Nifty Realty, Media, Auto, and Energy Sector Indices are inside the improving quadrant; they may continue improving their relative performance against the broader markets. Important Note: RRGTM charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals. Milan Vaishnav, CMT, MSTA, is a Consulting Technical Analyst and founder of and and is based in Vadodara. He can be reached at
Economic Times
6 hours ago
- Economic Times
Nifty's narrow range breaks on Iran-Israel tensions; 24,450–24,500 emerges as key support: Sudeep Shah
Tired of too many ads? Remove Ads As the Iran-Israel war unfolds, what's your take on the global markets and picture right now? Tired of too many ads? Remove Ads What about Nifty? Does the general upward view remain intact? How about Bank Nifty? How does it seem to be placed? Tired of too many ads? Remove Ads Any sectors you think would specifically suffer from this war? View on defence sectors amid rising global tensions? What's your view on OMCs with such a surge in the Brent Crude? How are aviation stocks likely to perform given the backdrop of war and rising crude prices as well as the tragic Air India incident? What sectors are you now focusing on? Any stocks within those sectors? Markets remained under pressure and ended the week in the red, with both benchmark indices slipping by over a percent. The decline was largely driven by rising geopolitical tensions and mixed global cues. After opening the week on a cautious note, the indices saw heightened volatility and eventually closed near their weekly lows. The Nifty settled at 24,718, while the Sensex ended at 81,118 — both marking a sharp pullback from their recent this broader market weakness, select smallcap stocks managed to buck the trend. Several counters across sectors like electricals, IT, finance, and construction materials posted sharp gains, delivering weekly returns of 20–28%. These pockets of strength stood out as investors selectively chased momentum despite the overall risk-off this, Analyst Sudeep Shah , Deputy Vice President and Head of Technical & Derivatives Research, SBI Securities interacted with ET Markets regarding the outlook on Nifty and Bank Nifty along with an index strategy for the upcoming week. Following are the edited excerpts from his chat:As the Iran–Israel conflict unfolds, global markets have entered a risk-off mode. Investors are responding to fears of broader geopolitical escalation across the Middle East. Crude oil prices have surged above their 200-day EMA level for the first time since January 2025, raising concerns about inflation and supply disruptions. Equities across the U.S., Europe, and Asia have seen sharp declines, while safe-haven assets like gold are gaining strength, and they are likely to test all-time high levels. Bond yields have also moved higher, reflecting heightened uncertainty. Volatility is expected to remain elevated in the short term, with sentiment driven largely by geopolitical headlines. Until clarity emerges, markets are likely to remain nervous and the first three trading sessions of the week, the benchmark index Nifty hovered near its 8-month high, yet remained confined within a narrow range of just 167 points. This tight consolidation reflected a clear state of indecision and a lack of strong conviction among market participants, as neither bulls nor bears were willing to take aggressive the calm broke on the weekly expiry day, when the index slipped below the consolidation zone, triggering a sharp intraday correction. The downside momentum intensified further on Friday after news reports confirmed that Israel had conducted airstrikes on Iran. This unexpected geopolitical escalation spooked investors and led to a broad-based sell-off across global markets, including a steep gap-down opening in our the global selloff, Nifty once again found support in the 24500–24450 zone — a crucial level that has acted as a reliable cushion multiple times over the past 23 trading sessions. Staying true to recent patterns, the index staged a strong rebound from this zone, recovering more than 240 points intraday and managing to close above the 24700 mark. This recovery, though impressive, was not strong enough to decisively shift the trend, especially with external risks still the bounce, the index continues to trade below its 20-day EMA, and the daily RSI remains directionless in a sideways range, indicating a lack of strong momentum on either side. The overall chart structure suggests that the market is currently positioned in 'no-man's land' — stuck between key support and resistance levels, making directional conviction difficult. Given the heightened geopolitical uncertainty and muted technical indicators, caution is key. Traders are advised to adopt a wait-and-watch approach in the next couple of sessions until a clear breakout or breakdown confirms the next leg of the about crucial levels, 24500-24450 will act as crucial support for the index. If the index slips below the level of 24450, then the next important support is placed at the 24200 level. While on the upside, the zone of 24850-24900 will act as an immediate hurdle for the index. If the index sustains above 24900, then it is likely to resume its northward journey. In that case, it is likely to test the level of 25200, followed by 25500 in the short banking benchmark index, Bank Nifty, registered a fresh all-time high of 57049, but has since started forming lower highs and lower lows on the daily chart. This price action has resulted in a Bearish Engulfing pattern on the weekly chart—typically a bearish reversal signal that appears after an to the cautious outlook, the index has slipped below its 20-day EMA for the first time since May 9, 2025. Moreover, the daily RSI has given a bearish crossover and is trending lower, indicating limited upside potential in the near ahead, the 55100–55000 zone will serve as immediate support. A breakdown below 55000 could open the door for a further decline towards the 54400 level. On the upside, the 20-day EMA zone of 55700–55800 will act as a key resistance the Iran–Israel conflict escalates further, several sectors could face significant pressure. Oil Marketing Companies like IOC, BPCL, and HPCL may see margin erosion due to rising crude prices, as retail fuel prices are often regulated. Airlines and logistics firms could suffer from increased fuel costs, impacting profitability. The auto sector might experience reduced consumer demand and higher input costs. FMCG and chemical companies could also feel the pinch from costlier transportation and packaging. Additionally, the cement and infrastructure sectors, being energy-intensive, may face margin compression. Overall, sectors with high fuel dependency and price sensitivity are most vulnerable in this defence sector stands to benefit amid rising global tensions like the Iran–Israel conflict. Increased geopolitical risks often lead to higher government spending on defence and the Nifty India Defence index has taken support near its 20-day EMA level and thereafter witnessed a smart rebound. The daily RSI has taken support near the 60 mark and witnessed a bounce, which is a bullish sign as per RSI range shift rules. Hence, we believe that the defence space is likely to outperform in the short Brent crude surging due to the Iran–Israel conflict, the outlook for OMCs like IOC, BPCL, and HPCL turns negative in the near term. Rising crude prices squeeze marketing margins, especially when retail fuel prices aren't revised due to political sensitivity. This can significantly impact profitability. Unless there's a pullback in crude or fuel price adjustments are made, OMCs may continue to stocks are likely to face near-term pressure due to rising crude prices, which drive up costs and hurt margins. The Iran–Israel conflict adds geopolitical risk, while the tragic Air India incident may dampen sentiment and invite regulatory scrutiny. Overall, expect aviation stocks to underperform unless crude stabilises and sentiment IT has significantly outperformed the frontline indices over the past week. The ratio chart of Nifty IT versus Nifty has broken out of a consolidation phase, reinforcing this outperformance. The index is currently hovering near its 200-day EMA, while the daily RSI remains in bullish territory. This setup suggests that outperformance is likely to continue in the coming IT, both the Nifty Pharma and Healthcare sectors are also showing signs of relative strength and are expected to outperform in the near the other hand, Nifty FMCG has breached an upward-sloping trendline and slipped below key moving averages. Additionally, its daily RSI has dropped below the 40 level and continues to decline, indicating potential underperformance in the short Max Health, HCL Tech, Tech Mahindra , Glenmark, 360 One Wealth, and Supreme Industries are looking good.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
