Nifty slips below 17,150; healthcare stocks decline

Barometers further pared gains in mid-afternoon trade. The Nifty fell below the 17,150 level. Pharma and healthcare stocks witnessed selling pressure.

At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 496.99 points or 0.87% to 57,561.30. The Nifty 50 index added 150.6 points or 0.89% to 17,133.35.

The broader market lagged the main stock indices. The S&P BSE Mid-Cap index rose 0.36% while the S&P BSE Small-Cap index fell 0.02%.

The market breadth was positive. On the BSE, 1741 shares rose and 1438 shares fell. A total of 164 shares were unchanged.

Buzzing Index:

The Nifty Healthcare declined 1.76% to 8,637.60, underperforming other sectoral indices on the NSE.

Glenmark Pharma (down 4.49%), Alkem Laboratories (down 4.38%), Pfizer (down 3%), Metropolis Healthcare (down 3%), Cipla (down 2.69%), Cadila Healthcare (down 2.55%) and Torrent Pharmaceuticals (down 2.53%) were top losers in healthcare space.

Stocks in Spotlight:

NTPC rose 0.12%. The PSU company said that the unit-4 of 250 MW capacity of Nabinagar Thermal Power Project (4X250 MW) of Bhartiya Rail Bijlee Company, a subsidiary of the company, has been declared on commercial operation w.e.f. 1 December 2021.

Aurionpro Solutions hit an upper circuit limit of 5% at Rs 257.70 after the company said it bagged an order worth Rs 190 crore from High Court of Madhya Pradesh. The order is for complete digitisation and implementation of video surveillance systems and live audio-visual streaming system.

Numbers to Track:

The yield on 10-year benchmark federal paper rose to 6.354% compared with 6.326% at close in the previous trading session.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 74.95, compared with its close of 75.135 during the previous trading session.

MCX Gold futures for 3 December 2021 settlement fell 0.01% to Rs 47,601.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, rose 0.11% to 96.115.

In the commodities market, Brent crude for January 2022 settlement rose $2.65 or 3.83% to $71.88 a barrel.

Powered by Capital Market - Live News