Barometers trade sideways with losses; breadth positive

Equity indices traded sideways with small losses in morning trade. The Nifty traded below 17,900 mark. Pharma, healthcare and banks stocks declined while media and consumer durable shares advanced.

At 10:32 IST, the barometer index, the S&P BSE Sensex, was down 168.04 points or 0.28% to 59,899.54. The Nifty 50 index fell 40.8 points or 0.23% to 17,876.50.

In the broader market, the S&P BSE Mid-Cap index gained 0.44% while the S&P BSE Small-Cap index rose 0.18%.

The market breadth was positive. On the BSE, 1567 shares rose and 1473 shares fell. A total of 189 shares were unchanged.

Results Today:

Britannia Industries (down 0.47%), Aurobindo Pharma (down 3.42%), Sobha (down 2.56%), Ujjivan Small Finance Bank (up 0.46%), Wockhardt (down 0.98%), Action Construction Equipment (up 0.37%), Balrampur Chini Mills (down 1.31%), Elgi Equipments (up 1.55%), HG Infra Engineering (up 2.64%), KRBL (up 1.3%) and Talbros Automotive Components (up 2.75%) are some of the companies that will announce their quarterly results today.

Buzzing Index:

The Nifty Media index gained 1.38% to 2,367.05.

Network 18 (up 7.67%), TV18 Broadcast (up 4.17%), Inox Leisure (up 4.11%), PVR (up 3.77%) and Zee Entertainment Enterprises (up 2.43%) were top gainers in media space.

Stocks in Spotlight:

Pfizer jumped 5.01% after the company's US-based parent said on Friday that its experimental Covid-19 antiviral pill cut by 89% the chance of hospitalization or death for adults at risk of severe disease.

Gail (India) fell 0.2%. The company said that the National Company Law Tribunal has granted approval for acquisition of IL&FS Group's 26% equity stake in ONGC Tripura Power Company (OTPC). xThe stake is being acquired from Infrastructure Leasing & Financial Services (L&FS) Group companies namely IL&FS Energy Development Company (EDCL) and IL&FS Financial Services (IFIN).

Inox Wind rose 1.98% to Rs 136.30 after the company bagged an order for a 150 MW (mega-watt) wind power project from NTPC Renewable Energy, a wholly owned subsidiary of NTPC, to be commissioned in the state of Gujarat.

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