logo
Stock market update: Nifty Pharma index  falls  0.28% in  a weak  market

Stock market update: Nifty Pharma index falls 0.28% in a weak market

Time of India3 hours ago

NEW DELHI: The Nifty Pharma index traded negative around 10:26AM(IST)on Monday in a weak market.
Glenmark Pharmaceuticals Ltd.(up 2.17 per cent), Laurus Labs Ltd.(up 1.04 per cent), Granules India Ltd.(up 0.96 per cent), Divi's Laboratories Ltd.(up 0.54 per cent) and Mankind Pharma Ltd.(up 0.18 per cent) were among the top gainers.
Abbott India Ltd.(down 1.68 per cent), Ajanta Pharma Ltd.(down 1.1 per cent), Dr. Reddy's Laboratories Ltd.(down 0.93 per cent), Natco Pharma Ltd.(down 0.89 per cent) and Sun Pharmaceutical Industries Ltd.(down 0.69 per cent) were the top losers on the index.
The Nifty Pharma index was down 0.28 per cent at 21551.7 at the time of writing this report.
Benchmark NSE Nifty50 index was down 221.96 points at 24890.45, while the BSE Sensex was down 731.74 points at 81676.43.
Live Events
Among the 50 stocks in the Nifty index, 5 were trading in the green, while 45 were in the red.
Shares of Vodafone Idea, Ola Electric Mobilit, RattanIndia Power, YES Bank and Zee Ent. were among the most traded shares on the NSE.
Shares of Madhya Bharat Agro, Apollo Micro Systems, Prostarm Info System, Quality Power Electr and SRM Contractors hit their fresh 52-week highs in today's trade, while Omkar Speciality, Lasa Supergenerics, Navkar Builders, Sadhana Nitro and Setubandhan Infra hit fresh 52-week lows in trade.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sensex, Nifty take a hit, but 5 reasons why smallcaps, midcaps remain bulletproof
Sensex, Nifty take a hit, but 5 reasons why smallcaps, midcaps remain bulletproof

Economic Times

time27 minutes ago

  • Economic Times

Sensex, Nifty take a hit, but 5 reasons why smallcaps, midcaps remain bulletproof

While the Sensex tanked over 900 points and the Nifty slid below the psychological 25,000 mark in Monday's trade, it felt like just another calm day in paradise for smallcap and midcap investors. The bombs may be flying over the Middle East, but in Dalal Street's broader market, it's stock-specific sunshine. ADVERTISEMENT In a day marked by escalating geopolitical drama, following the US strike on Iran's nuclear facilities, retail portfolios hardly flinched. In fact, many smiled. The BSE Smallcap index defied gravity, rising 0.3% as stocks like Ideaforge, Apollo Micro Systems and Northern Arc Capital surged over 10%. The Nifty Midcap 100 also climbed 0.34%, even as the frontline Nifty 500 closed 0.26% lower. So what's insulating the small and mid-tier soldiers of the market when the generals are bleeding?'The market structure has changed over the last 2-3 months,' said Sunny Agrawal, Head of Fundamental Research at SBI Securities. 'It's become stock-specific. Investors are laser-focused on earnings growth potential or fundamental shifts in business. In some cases, industry tailwinds like in defence, are driving action.' Also Read | Rs 1 lakh crore FII selloff in 6 sectors! Are you still holding the wrong stocks? ADVERTISEMENT According to Agarwal, several midcap and smallcap names are poised to deliver a 25-30% CAGR in earnings over the next two years. Agarwal remains bullish on NBFCs and consumption-driven themes, which are more dependent on India's domestic story than oil flows through Hormuz. Foreign Institutional Investors (FIIs) have largely stayed away from the midcap and smallcap space. The result? No selling pressure. In a war-induced panic selloff, that's the moat retail and HNIs are enjoying. ADVERTISEMENT It's not just retail. Family offices and domestic institutions are increasingly parking money in the broader market. "Family office pools are growing stronger, and midcaps/smallcaps are no longer just HNIs and retail investors," said Agarwal. "MF inflows are healthy too and going into better-quality names." Also Read | Why stock market is falling today? Key factors behind 900-point Sensex crash, Nifty below 24,850 ADVERTISEMENT Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, doesn't expect a prolonged selloff. 'Even though the US bombing of Iran's nuclear facilities has worsened the West Asia crisis, market reaction remains measured. Crude prices, US futures, and the absence of panic in Asian markets indicate restraint,' he said.'The closure of the Hormuz Strait, while always a threat, has never actually happened. Any serious escalation will hurt Iran and its ally China more than the US.' ADVERTISEMENT The market construct, he added, continues to support a 'buy on dips' the geopolitical turbulence, both experts maintain their constructive outlook. Agarwal expects "the war overhang will get 2-3 days over" and remains bullish on NBFC and consumption themes. "The market is a buy on dip structure," he echoed this sentiment: "The market construct continues to favour a 'buy on dips' strategy," suggesting that long-term investors view current volatility as an opportunity rather than a systemic threat. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)

Bitcoin falls below $99K amid Middle East tensions; Altcoins drop up to 4%
Bitcoin falls below $99K amid Middle East tensions; Altcoins drop up to 4%

Economic Times

time27 minutes ago

  • Economic Times

Bitcoin falls below $99K amid Middle East tensions; Altcoins drop up to 4%

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

SMIDs show resilience as benchmarks slide amid geopolitical tensions
SMIDs show resilience as benchmarks slide amid geopolitical tensions

Business Standard

timean hour ago

  • Business Standard

SMIDs show resilience as benchmarks slide amid geopolitical tensions

The broader market showed some resilience even as benchmark equity indices traded lower, with Dalal Street investors remaining cautious after the US struck three nuclear facilities in Iran, siding with Israel in the ongoing geopolitical conflict in West Asia. The benchmark indices, which logged their worst fall since June 13 this year, have recouped some losses from their intraday lows but continue to trade in the red. At last check, the BSE Sensex was trading at 81,873.96, down 534.21 points or 0.65 per cent. The index was 397 points above its intraday low of 81,476.76, having traded in the range of 81,476.76 – 81,984.44 so far today. The NSE Nifty50, on the other hand, recovered 127.45 points from its day's low to trade at 24,952.30, down 160.10 points or 0.64 per cent from its previous close. The index has fluctuated in the range of 24,824.85 – 24,988.10 during the session. CATCH STOCK MARKET UPDATES TODAY LIVE From the Sensex pack, barring six stocks—Bharat Electronics (up 2.78 per cent), Trent (up 2.78 per cent), Adani Ports (up 0.83 per cent), Bajaj Finance (up 0.76 per cent), Bharti Airtel (up 0.20 per cent), and Enternal (up 0.16 per cent)—all other 24 constituent stocks were trading lower, dragged by Infosys, HCL Technologies, Hindustan Unilever, Mahindra & Mahindra, Larsen & Toubro, and Tata Consultancy Services (TCS), which were trading lower in the range of 2.31 per cent - 1.23 per cent. Market breadth turns negative The market breadth turned negative as 1,546 out of 2,767 traded stocks on the NSE were trading lower, while 1,142 traded with gains, and 79 remained flat. As many as 32 stocks were quoted slipping to their 52-week lows, while the same number of stocks touched their 52-week highs on the NSE. The number of stocks hitting their lower circuits on the NSE stood at 82, while 52 were quoted touching their upper limit. Broader markets outperform benchmark Among the broader market indices on the NSE, the Nifty Smallcap100 was outperforming others, trading higher by 0.40 per cent, led by Kfin Technologies and Zen Technologies, which ended higher by 5 per cent each. Meanwhile, the Nifty Midcap100 index was trading higher by 0.12 per cent, led by Glenmark Pharmaceuticals (up 3 per cent), Polycab India (up 3 per cent), and 2.63 per cent. Sectoral markets trade lower Barring the Nifty Metal and Media indices, all other sectoral indices on the NSE were trading lower. Among them, the Nifty IT index was the top laggard, trading lower by 1.46 per cent, dragged by Infosys (down 2.48 per cent), HCL Technologies (down 1.7 per cent), and Wipro (down 1.5 per cent). The other sectoral indices on the NSE traded lower, falling in the range of 0.13 per cent to 0.90 per cent. Experts' view The market decline today, Vinit Bolinjkar, Head of Research at Ventura, said, reflects heightened geopolitical tensions, following Iran's closure of the Strait of Hormuz in retaliation for US-led nuclear strikes on its facilities. "As a vital route for nearly a fifth of global oil trade, the Strait's shutdown has driven crude prices higher and shaken investor sentiment globally." "While short-term volatility is likely to persist, long-term investors should remain focused on fundamentals and selectively explore value in the current correction," said Bolinjkar. From a technical perspective, Devarsh Vakil, Head of Prime Research at HDFC Securities, said the support levels for the Nifty50 have shifted upwards to 24,800 levels. The immediate resistance, Vakil said, is now placed at 25,222 levels.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store