Market Commentary - Mid-Session
Market trades with small gains; pharma shares in demand As on : 23-Aug-24  14:35

The equity benchmarks continued to trade near the flatline with some positive bias in mid-afternoon trade. The Nifty traded above the 24,800 level. Pharma bank shares advanced after declining in the past consecutive trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, rose 27.42 points or 0.03% to 81,075.50. The Nifty 50 index added 11 points or 0.01% to 24,835.50.

In the broader market, the S&P BSE Mid-Cap index fell 0.37% and the S&P BSE Small-Cap index rose 0.18%.

The market breadth was positive. On the BSE, 2,089 shares rose and 1,809 shares fell. A total of 114 shares were unchanged.

Buzzing Index :

The Nifty Pharma index rose 0.16% to 22,581.30. The index shed 0.14% in the past consecutive trading sessions.

Sun Pharmaceuticals Industries (up 1.62%), Mankind Pharma (up 1.22%), Aurobindo Pharma (up 0.7%), Natco Pharma (up 0.6%), Glenmark Pharmaceuticals (up 0.31%) and Dr Reddys Laboratories (up 0.08%) edged higher.

On the other hand, Zydus Lifesciences (down 2.4%), J B Chemicals & Pharmaceuticals (down 1.93%) and Gland Pharma (down 1.49%) edged lower.

Stocks in Spotlight :

Poly Medicure added 2.67% after the company said that it has raised Rs 1,000 crore by way of issue of qualified institutional placement (QIP).

Power Mech Projects jumped 9.10% after the company said that its board has decided to issue one bonus share for every one equity share held (1:1).

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