logo
Stock market update: Nifty Pharma index  falls  0.67%

Stock market update: Nifty Pharma index falls 0.67%

Time of India02-05-2025

NEW DELHI: The Nifty Pharma index closed on a negative note on Friday.
Shares of Laurus Labs Ltd.(up 2.77 per cent), Abbott India Ltd.(up 2.47 per cent), Divi's Laboratories Ltd.(up 0.28 per cent) and Gland Pharma Ltd.(up 0.25 per cent) ended the day as top gainers in the pack.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Play War Thunder now for free
War Thunder
Play Now
Undo
On the other hand, Ajanta Pharma Ltd.(down 4.47 per cent), Mankind Pharma Ltd.(down 3.23 per cent), J B Chemicals & Pharmaceuticals Ltd.(down 2.21 per cent), Torrent Pharmaceuticals Ltd.(down 2.02 per cent) and Lupin Ltd.(down 1.84 per cent) finished as the top losers of the day.
The Nifty Pharma index closed 0.67 per cent down at 21627.45.
Benchmark NSE Nifty50 index ended up 12.5 points at 24346.7, while the BSE Sensex stood up 259.75 points at 80501.99.
Live Events
Among the 50 stocks in the Nifty index, 17 ended in the green, while 33 closed in the red.
Shares of Vodafone Idea, Eternal, Vishal Mega Mart, Sonata Software and YES Bank were among the most traded shares on the NSE.
Shares of Force Motors, Reliance Naval & Engg, Privi Speciality Chemicals, Godfrey Philips and Cura Tech hit their fresh 52-week highs in today's trade, while Keerti Knowledge, Bodhi Tree Multimedia, GI Engineering, AGS Transact Tech and Gensol Engg hit their fresh 52-week lows.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nifty 50, Sensex today: What to expect from Indian stock market on June 9 ahead of US-China trade talks
Nifty 50, Sensex today: What to expect from Indian stock market on June 9 ahead of US-China trade talks

Mint

time38 minutes ago

  • Mint

Nifty 50, Sensex today: What to expect from Indian stock market on June 9 ahead of US-China trade talks

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking upbeat cues from global markets, amid optimism over US-China trade talks. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,175 level, a premium of nearly 80 points from the Nifty futures' previous close. On Friday, the domestic equity market ended higher, with the benchmark Nifty 50 closing above the 25,000 level, after the Reserve Bank of India (RBI) cut repo rate by 50 basis points (bps) to 5.50% and also reduced the Cash Reserve Bank (CRR) by 100 bps to 3%. The Sensex surged 746.95 points, or 0.92%, to close at 82,188.99, while the Nifty 50 settled 252.15 points, or 1.02%, at 25,003.05. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex formed a double bottom reversal pattern on daily charts and is currently trading comfortably above the 20-day SMA (Simple Moving Average), which is largely positive. In addition, a long bullish candle has formed on weekly charts, supporting the possibility of further uptrend from the current levels. 'We believe that the 20-day SMA, around 81,600, will act as a trend-decider level. As long as Sensex remains above this level, the bullish formation is likely to continue, with 82,600 serving as the immediate resistance zone for short-term traders. A successful breakout above 82,600 could push the market up to 83,500 - 83,900,' said Amol Athawale, VP-technical Research, Kotak Securities. Conversely, if Sensex falls below 81,600, sentiment could change, and the index may retest the 80,600 level. Further downside could extend, potentially dragging Sensex down to 80,200. Nifty 50 witnessed sharp upmove on June 6 after the outcome of RBI's mid quarter policy meet and closed the day with decent gains of 252 points. 'A long bull candle was formed on the daily chart that placed it at the edge of a decisive upside breakout of the broader range movement at 25,000 - 25,100 levels. Nifty 50, on the weekly chart, formed a long bull candle after the minor dip of previous two weeks. The weekly chart formation indicates a bullish rising three method type pattern, which is an uptrend continuation pattern,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the next upside levels to be watched for Nifty 50 are around 25,200 and 25,500 levels this week. Immediate support is placed at 24,850 levels. Om Mehra, Technical Research Analyst, SAMCO Securities said that the Nifty 50 formed a strong bullish candle on the daily chart, decisively crossing and sustaining above the earlier resistance zone of 24,900. 'This breakout, accompanied by a weekly gain of 1.02%, underpins the underlying bullish tone and signals the continuation of upward momentum. The index is now comfortably positioned above its 9 EMA, with the widening gap from the 20 EMA offering an additional cushion for any short-term pullbacks. The daily RSI has bounced back above the 60 mark, aligning with the earlier positive divergence and confirming strength in momentum,' Mehra said. The resistance is seen near 25,120, and a sustained move above this could pave the way for further gains in this coming week. On the downside, support has shifted towards 24,880 – 24,900, which now acts as a buy-on-dip zone, added Mehra. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 formed a strong bullish candle and closed 100 points away from its resistance. 'The index has to break the 25,150 level to gain significant momentum towards the 25,700 level, till then one can look to short the index at present levels with a target of support at the 24,500 level,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, the current upward trend may continue for a while and Nifty 50 could find support between 24,970 and 24,900, and experience resistance close to 25,200 and 25,280 in today's session. Bank Nifty index rallied 817.55 points, or 1.47%, to close at 56,578.40 on Friday, while it ended the week with a 1.49% gain. 'Bank Nifty broke out of a six-week consolidation phase and hit fresh all-time highs. The index is trading above its 21-day and 55-day EMAs, reinforcing the positive momentum. RSI at 67 indicates strong but sustainable buying interest. Key support lies at 56,100 any breakdown below this level could see the index slide further toward 55,600. On the upside, immediate resistance is seen at 57,000; a decisive move above this may open the door for a rally toward 57,500,' said Puneet Singhania, Director at Master Trust Group. He believes the overall setup remains positive, and suggests traders to look to buy on dips. Bajaj Broking Research said in a note that the Bank Nifty index formed a strong bull candle in the weekly chart as it generated a breakout above the upper band of the last 6 weeks range signaling resumption of the up move after recent consolidation. 'We expect the index to maintain positive bias and head higher towards 56,700 and 57,200 levels in the near term. The short-term structure remains constructive with immediate support placed at 55,900 levels being the Friday's breakout area. While key support is placed at 55,200 levels being the confluence of 20 days EMA and key retracement area,' it added. According to Amol Athawale, for Bank Nifty, a range breakout formation on daily charts suggests potential for further uptrend. 'For trend-following traders, the key support zones are around 56,000 and 55,500. Above these levels, the index could continue its positive momentum towards 57,200 – 57,700. However, if it falls below 55,500, the uptrend may become vulnerable. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Stock Market LIVE Updates: Gift Nifty hints at positive start; Asian stocks trade with gains amid trade talk optimism
Stock Market LIVE Updates: Gift Nifty hints at positive start; Asian stocks trade with gains amid trade talk optimism

Time of India

time39 minutes ago

  • Time of India

Stock Market LIVE Updates: Gift Nifty hints at positive start; Asian stocks trade with gains amid trade talk optimism

09 Jun 2025 | 07:44:43 AM IST Sensex Today | Stock Market LIVE Updates: Benchmark indices Sensex and Nifty ended higher on Friday, reversing early losses after the Reserve Bank of India (RBI) delivered a surprise 50 basis point cut in the repo rate—larger than anticipated—to stimulate economic growth. Sensex Today | Stock Market LIVE Updates: Benchmark indices Sensex and Nifty jumped nearly 1% on Friday, powered by a strong rally in rate-sensitive sectors after the Reserve Bank of India announced a surprise 50 basis point repo rate to market analysts, the RBI's move—backed by expectations of moderate inflation and accompanied by a phased 100 basis point CRR cut—is aimed at spurring economic growth and easing borrowing costs. They noted that the policy stance is broadly supportive of growth and investment, especially amid a challenging global macroeconomic backdrop. Show more

Dollar steadies after rally, focus shifts to US-China trade talks
Dollar steadies after rally, focus shifts to US-China trade talks

Time of India

time42 minutes ago

  • Time of India

Dollar steadies after rally, focus shifts to US-China trade talks

The dollar held steady against all major currencies on Monday, as exuberance over an upbeat U.S. employment report gave way to caution ahead of pivotal U.S.-China trade talks set to take place in London later in the day. The talks come at a crucial time for both economies, with China grappling with deflation and trade uncertainty dampening sentiment among U.S. businesses and consumers, prompting investors to reassess the dollar's safe-haven status. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 허리통증에 다리가 저리다면 지금 늦지 않았다! 비수술로 치료 가능합니다! ort02a_강남정형외과병원 지금 문의 Undo Treasury Secretary Scott Bessent , Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are expected to represent the U.S. at the trade talks, while vice premier He Lifeng would likely be present with the Chinese delegation. "A deal to keep talking might be better than nothing, but unless we see a concrete breakthrough, the impact on sentiment is likely to remain muted," said Charu Chanana, chief investment strategist at Saxo Markets. Friday's upbeat U.S. jobs report yielded some relief for investors following other bleak economic data last week. Live Events The dollar advanced against major peers after the employment report, which cut weekly declines in the dollar index by more than half. However, it is still down by more than 8.6% for the year. On Monday, the yen firmed 0.10% at 144.750 per dollar, as data showed Japan's economy contracted at a slower-than-expected pace in the January-March period. The Swiss franc was steady at 0.8221 per dollar by 0041 GMT. The euro was last flat at $1.1399, while the sterling fetched $1.3535. The dollar index, which measures the U.S. currency against six others, was steady at 99.169. The yield on 10-year Treasury notes was flat in early Asia trading, after a more than 10 basis points jump on Friday. New Zealand's dollar last bought $0.6020, while the Australian dollar inched up 0.1% at $0.65 in light volumes as markets were closed for a public holiday. An inflation report out of the U.S. for the month of May will be in the spotlight later in the week as investors and Federal Reserve policymakers look for evidence on the damage trade restrictive policies have had on the economy. Fed officials are in a blackout period ahead of their policy meeting next week, but they have signalled that they are in no rush to cut interest rates and signs of better-than-feared economic resilience are likely to further cement their stance. Interest rate futures indicate that investors are anticipating the central bank may cut borrowing costs by 25 basis points, with the earliest move expected in October this year, according to data compiled by LSEG. "May is the first month where the impact of Trump's 10% universal tariff on imports ex-USMCA is expected to show. The Fed will want a few months of inflation data in order to judge the tariff impact and most importantly, its persistence," analysts at ANZ Bank said. Elsewhere, China's offshore yuan was last at 7.187 per dollar ahead of inflation and trade data.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store