The domestic equity benchmarks traded below the flat line, with minor cuts, in afternoon trade. The Nifty traded tad above the 19,650 mark. Pharma shares advanced as value buying emerged at lower levels.
At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 28.56 points or 0.04% to 65,916.91. The Nifty 50 index lost 1.90 points or 0.01% to 19,662.80.
In the broader market, the S&P BSE Mid-Cap index added 0.44% while the S&P BSE Small-Cap index rose 0.48%.
The market breadth was almost even. On the BSE, 1,781 shares rose and 1,706 shares fell. A total of 170 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.86% to 11.51. The Nifty 28 September 2023 futures were trading at 19,657.25, at a discount of 5.55 points as compared with the spot at 19,662.80.
The Nifty option chain for the 28 September 2023 expiry showed maximum Call OI of 157.9 lakh contracts at the 19,800 strike price. Maximum Put OI of 173.5 lakh contracts were seen at 19,600 strike price.
Buzzing Index:
The Nifty Pharma index rose 1.07% to 15,142.25. The index had declined 3.86% in the past six sessions.
Granules India (up 3.08%), Aurobindo Pharma (up 1.95%), Natco Pharma (up 1.86%), Lupin (up 1.53%) and Gland Pharma (up 1.52%) were the top gainers.
Among the other gainers were Laurus Labs (up 1.35%), Cipla (up 1.19%), Biocon (up 1.07%) and Zydus Lifesciences (up 1.06%).
Stocks in Spotlight:
Vedanta tumbled 5.56%. Moody's Investors Service downgraded parent Vedanta Resources' senior unsecured bonds, citing a high risk of debt restructuring in the coming months. The scrip had slumped 6.27% to hit the day's low at Rs 210, which is also a 52-week low for the counter.
HLE Glascoat jumped 6.14%. DSP Micro Cap Fund bought 3.52% stake via bulk deal on Tuesday, 26 September 2023.
Glenmark Pharmaceuticals rose 1.28%. The company said that its subsidiary Glenmark Specialty S.A. and Cosmo Pharmaceuticals N.V. has signed a distribution and license agreements for Winlevi (clascoterone cream 1%) in Europe and South Africa.
Powered by Capital Market - Live News