Indices pare gains; pharma shares in demand

Key indices pared gains in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 34.93 points or 0.09% at 40,814.52. The Nifty 50 index was up 6.80 points or 0.06% at 12,025.20.

The S&P BSE Mid-Cap index was down 0.04%. The S&P BSE Small-Cap index was trading almost flat.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 873 shares rose and 855 shares fell. A total of 97 shares were unchanged. In Nifty 50 index, 25 stocks advanced while 25 stocks declined.

Buzzing Index:

The Nifty Pharma index rose 1.15% to 8,144.55, reversing losses acquired in the previous session.

Glenmark Pharmaceuticals (up 2.56%), Dr Reddy's Laboratories (up 1.98%), Sun Pharmaceutical Industries (up 1.41%), Strides Shasun (up 1.22%), Cipla (up 0.87%), Aurobindo Pharma (up 0.69%), GlaxoSmithKline Pharmaceuticals (up 0.6%), IPCA Laboratories (up 0.57%), Divi's Laboratories (up 0.53%), Wockhardt (up 0.26%), Cadila Healthcare (up 0.19%) and Piramal Enterprises (up 0.11%) advanced.

Alkem Laboratories (down 0.49%) and Lupin (down 0.19%) declined.

Stocks in Spotlight:

RBL Bank slipped 0.12% to Rs 364.95. The private sector bank said the qualified institutional placement (QIP) of equity shares which opened on Monday, 2 December 2019, ended yesterday, on 5 December 2019. It has approved allocation of 5.77 crore equity shares at an issue price of Rs. 351 per share.

Kesoram Industries rose 3.05% to Rs 62.05, rising for second consecutive session. The stocks has risen 9.53% to its current market price from a recent closing high of Rs 56.65 on 4 December 2019.

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