Sensex gains 230 pts; pharma shares rally for 5th day

The domestic equity indices maintained moderate gains in mid-morning trade, extending their recovery for the second straight session. The upward momentum was primarily driven by strong buying interest in IT and pharma stocks, keeping the market firmly in positive territory. The Nifty traded above the 25,550 mark. Meanwhile, pharma stocks attracted buying interest for the fifth consecutive trading session.

At 11:27 IST, the barometer index, the S&P BSE Sensex, advanced 230.43 points or 0.28% to 82,506.50. The Nifty 50 index gained 71.50 points or 0.28% to 25,554.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.50% and the BSE 250 SmallCap Index rose 0.30%.

The market breadth was strong. On the BSE, 2,345 shares rose and 1,457 shares fell. A total of 197 shares were unchanged.

IPO Update:

Omnitech Engineering received bids for 18,84,300 shares as against 1,89,09,890 shares on offer. The issue was subscribed 0.10 times.

The issue opened for bidding on 25 February 2026 and it will close on 27 February 2026. The price band of the IPO is fixed between Rs 216 and 227 per share.

PNGS Reva Diamond Jewellery received bids for 49,72,480 shares as against 57,06,235 shares on offer. The issue was subscribed 0.87 times.

The issue opened for bidding on 24 February 2026 and it will close on 26 February 2026. The price band of the IPO is fixed between Rs 367 and 386 per share.

Buzzing Index:

The Nifty pharma index jumped 0.80% to 23,237.35. The index rallied 3.60% in five consecutive trading sessions.

Mankind Pharma (up 4.61%), Zydus Lifesciences (up 1.72%), Lupin (up 1.34%), Gland Pharma (up 1.29%), Aurobindo Pharma (up 1.15%), Glenmark Pharmaceuticals (up 1.01%), Alkem Laboratories (up 1%), Sun Pharmaceutical Industries (up 0.74%), Ajanta Pharma (up 0.68%) and Laurus Labs (up 0.62%) advanced.

On the other hand, IPCA Laboratories (down 0.28%), Abbott India (down 0.15%) and Biocon (down 0.09%) edged lower.

Stocks in Spotlight:

KP Energy added 1.55% after the company received a letter of award (LoA) from Enerparc Energy for the development of a 40.8 MW wind-solar hybrid power project in Gujarat.

Balu Forge Industries surged 9.78% after it entered into a legally binding memorandum of understanding (MoU) for the supply of empty artillery shells from its greenfield manufacturing facility in Belgaum, Karnataka.

Coforge rose 0.51%. The company announced a strategic partnership with VHC Health for serving as the latters digital and IT services provider.

Global Markets:

Most Asian markets edged higher with South Korea and Japan stocks hitting record highs Wednesday, after a tech-driven rally on Wall Street that was fueled by easing concerns around artificial intelligence-led disruption to select industries.

U.S. equities rose on Tuesday, led by gains in Advanced Micro Devices and software stocks, as investors fears around artificial intelligence disruption to certain industries eased.

The S&P 500 advanced 0.77% to close at 6,890.07, while the Nasdaq Composite rose 1.04% and settled at 22,863.68. The Dow Jones Industrial Average added 370.44 points, or 0.76%, and ended at 49,174.50.

Shares of AMD jumped 8.8% after Meta Platforms announced a multiyear deal with the semiconductor company. The new partnership entails deploying up to 6 gigawatts of AMDs graphics processing units for AI data centers. Meta will also invest in AMD through a performance-based warrant for up to 160 million shares of the chipmaker.

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