Stock market update: Nifty Pharma index advances 1.25%
NEW DELHI: The Nifty Pharma index closed on a positive note on Wednesday.
Shares of Gland Pharma Ltd.(up 4.88 per cent), Natco Pharma Ltd.(up 2.77 per cent), Biocon Ltd.(up 2.46 per cent), Alkem Laboratories Ltd.(up 2.19 per cent) and Cipla Ltd.(up 1.93 per cent) ended the day as top gainers in the pack.
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
[Click Here] 2025 Top Trending local enterprise accounting software
Expertinspector
Click Here
Undo
On the other hand, J B Chemicals & Pharmaceuticals Ltd.(down 1.86 per cent) and Mankind Pharma Ltd.(down 0.7 per cent) finished as the top losers of the day.
The Nifty Pharma index closed 1.25 per cent up at 21723.65.
Benchmark NSE Nifty50 index ended up 129.55 points at 24813.45, while the BSE Sensex stood up 410.19 points at 81596.63.
Live Events
Among the 50 stocks in the Nifty index, 36 ended in the green, while 14 closed in the red.
Shares of Vodafone Idea, Tata Teleservices, YES Bank, BEL and Trident Ltd were among the most traded shares on the NSE.
Shares of AB Infrabuild, Banco Products, SecMark Consultancy, Stampede Cap(DVR)and Krishana Phoschem hit their fresh 52-week highs in today's trade, while Music Broadcast, Lasa Supergenerics, Chembond Chem, HCL Infosystems and Kamdhenu hit their fresh 52-week lows.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
an hour ago
- Deccan Herald
Sensex jumps 747 points as RBI cuts repo rate by 50 bps; realty, bank, auto stocks surge
Recovering all the early lost ground, the 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,188.99. During the day, it surged 857.85 points, or 1.05 per cent, to 82,299.89.
The Hindu
an hour ago
- The Hindu
Rupee strengthens 11 paise to close at 85.68 against U.S. dollar
The rupee pared initial losses and appreciated 11 paise to close at 85.68 (provisional) against the U.S. dollar on Friday (June 6, 2025), after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth. Forex traders said the rupee traded on a flat-to-positive note as the RBI surprised the market with a jumbo rate cut. Besides, the rate cut supported by a phased 100 basis points CRR reduction will lower the borrowing costs and boost growth. Moreover, a surge in the domestic markets supported the rupee at lower levels, with both the indices settling with gains of over 1%. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 85.91, registering a fall of 12 paise over its previous close. But soon pared the losses and saw an early high of 85.66 against the greenback. During Friday's (June 6, 2025) trade, the rupee also saw an intraday low of 86 and finally settled for the day at 85.68, up 11 paise over its previous close. On Thursday (June 5, 2025), the rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the U.S. dollar. The RBI slashed the interest rate by 50 basis points on Friday (June 6, 2025), a third consecutive reduction, and unexpectedly reduced the cash reserve ratio (CRR) for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. The central bank retained the GDP growth projection for the current fiscal year at 6.5%. It also changed its monetary policy stance to 'neutral' from 'accommodative', with Malhotra saying further action will depend on incoming data. 'The RBI policy decision today was pre-emptive and precise. The surprise CRR cut of 100bps despite a significantly high surplus liquidity signals a strong intent to fast-track transmission while the change in stance back to neutral reflects possible pause on future rate cuts,' Anurag Mittal, Head of Fixed Income at UTI AMC said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25% at 98.98. Brent crude, the global oil benchmark, fell 0.26% to $65.17 per barrel in futures trade. 'Any further rate cut by the RBI may also pressurise the rupee. However, a positive tone in the domestic markets may support the domestic currency at lower levels. Investors may now focus on the non-farm payrolls report from the U.S. USD-INR spot price is expected to trade in a range of 85.40 to 86.25,' said Anuj Choudhary — Research Analyst at Mirae Asset Sharekhan. On the domestic equity market front, the 30-share benchmark index Sensex recovered the initial lost ground and closed 746.95 points, or 0.92% higher at 82,188.99, while the Nifty settled 252.15 points or 1.02% up at 25,003.05. Foreign institutional investors (FIIs) sold equities worth ₹208.47 crore on a net basis on Thursday (June 5, 2025), according to exchange data.
The Hindu
an hour ago
- The Hindu
Sensex jumps 747 points as RBI cuts repo rate by 50 bps
Benchmark equity indices surged on Friday (June 6, 2025), with the Sensex climbing 746.95 points and Nifty reclaiming the 25,000 level after the RBI cut interest rates by more than expected 50 basis points — a third consecutive reduction — and reduced the cash reserve ratio for banks to provide a major liquidity fillip to support the economy amid geopolitical and tariff headwinds. Recovering all the early lost ground, the 30-share BSE Sensex jumped 746.95 points, or 0.92%, to settle at 82,188.99. During the day, it surged 857.85 points, or 1.05%, to 82,299.89. The 50-share NSE Nifty reclaimed the 25,000 level and climbed 252.15 points, or 1.02%, to settle at 25,003.05. Interest-rate-sensitive realty index jumped 4.74%, while the auto index went up 1.50% and bankex climbed 1.25%. The Reserve Bank of India's (RBI's) six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5%. It also cut the cash reserve ratio by 100 basis points to 3%, adding ₹2.5 lakh crore to already surplus liquidity in the banking system. With the latest reduction, the RBI has cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February — the first cut since May 2020 — and another similar-sized cut in April. The central bank, at the same time, changed its monetary policy stance to 'neutral' from accommodative, with Malhotra saying further action will depend on incoming data. 'The Indian stock market responded optimistically to the RBI's surprise and aggressive growth push policy. The tremendous rate cut and liquidity boost via the CRR cut is expected to facilitate swift transmission of lower rates, reinforcing the RBI's strong commitment to fostering economic growth, boosting investment, and stimulating consumption. 'Rate-sensitive sectors, including banking, real estate, automobiles, and consumer durables, are leading the rally,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex firms, Bajaj Finance surged 4.93% and Axis Bank climbed 3.15%. Maruti, IndusInd Bank, Bajaj Finserv, Eternal, Mahindra & Mahindra, Tata Steel, Kotak Mahindra Bank, Titan, HDFC Bank, and NTPC were among the other major gainers. Bharti Airtel and Sun Pharma were the laggards. 'A third straight cut in repo rates this year with a 50 bps cut instead of an estimate of 25 bps is a pleasant move. This demonstrates a pro-growth stance and a front-loading of rate cuts given our stable economic growth and declining inflation. A change in policy stance from accommodative to neutral is also justified, as it can help to strike a right balance between growth and inflation, especially if geopolitical issues escalate further,' Umeshkumar Mehta, CIO, SAMCO Mutual Fund, said. The central bank lowered its inflation projection to 3.7% for 2025-26 from 4% earlier. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index and Shanghai's SSE Composite index settled in positive territory, while Hong Kong's Hang Seng ended lower. European markets were on a mixed note. U.S. markets ended lower on Thursday (June 5, 2025). Foreign Institutional Investors (FIIs) offloaded equities worth ₹208.47 crore on Thursday (June 5, 2025), according to exchange data. Global oil benchmark Brent crude dipped 0.46% to $65.04 a barrel. On Thursday (June 5, 2025), the 30-share BSE Sensex climbed 443.79 points, or 0.55%, to settle at 81,442.04. The Nifty rose 130.70 points, or 0.53%, to 24,750.90.
