Benchmarks trade in positive terrain; pharma shares jump

The key equity benchmarks traded with decent gains in mid-morning amid positive global cues. Investor sentiment stayed upbeat, supported by recent GST reforms and rate-cut expectations from the U.S. Federal Reserve next week. The Nifty traded around the 24,850 mark.

Pharma shares advanced after declining in the past trading session.

At 11:25 IST, the barometer index, the S&P BSE Sensex gained 248.85 points or 0.31% to 81,036.15. The Nifty 50 index rose 77.65 points or 0.31% to 24,850.80.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.11% and the S&P BSE Small-Cap index jumped 0.17%.

The market breadth was positive. On the BSE,1,979 shares rose and 1,833 shares fell. A total of 216 shares were unchanged.

Buzzing Index:

The Nifty Pharma index rose 0.58% to 21,992.30. The index declined 0.27% in the past trading sessions.

Glenmark Pharmaceuticals (up 2.36%), Dr Reddys Laboratories (up 2.17%), Gland Pharma (up 1.58%), Zydus Lifesciences (up 1.09%), Granules India (up 0.75%), Aurobindo Pharma (up 0.7%), Laurus Labs (up 0.65%), Biocon (up 0.43%), Cipla (up 0.25%) and Mankind Pharma (up 0.24%) advanced.

Stocks in Spotlight:

IRB Infrastructure Developers rose 1.04% after the company, along with its InvIT associate IRB Infrastructure Trust, reported a strong 11.92% year-on-year growth in toll revenue for August 2025.

Alpex Solar rose 1.51% after the company has secured a prestigious order worth Rs 345 crore for the supply of solar modules from a leading player in the industry.

Spandana Sphoorty Financial fell 1.13% after the company announced that its board of directors has accepted the resignation of Ramesh Periasamy from the position of chief compliance officer (CCO), effective from the close of business hours on 17 September 2025.

Global market:

Asian market traded mixed expectations of a U.S. rate cut as early as next week, even as political upheavals around.

The Japanese market saw strong buying interest for second consecutive session after the countrys Prime Minister Shigeru Ishiba announced his resignation Sunday.

The rally is being fuelled by hopes that the next leader from the ruling Liberal Democratic Party (LDP) could unleash a new wave of fiscal stimulus to bolster the Japanese economy.

Overnight stateside, the three major averages closed higher. The Nasdaq Composite closed at a record high as investors geared up for a data-heavy week that includes two closely watched readings on inflation.

The tech-heavy Nasdaq finished up 0.45% at 21,798.70, a record high after hitting a new all-time intraday high in the session. The S&P 500, meanwhile, settled up 0.21% at 6,495.15, while the Dow Jones Industrial Average rose 114.09 points, or 0.25%, to close at 45,514.95.

Breathing new life into the equities rally were expectations that the Federal Reserve would ease rates when it meets next week, following Friday's dismal U.S. jobs report.

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