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Sensex rises 140 pts, Nifty above 15,200; media stocks in limelight

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Capital Market

Domestic equity barometers were trading higher in early afternoon trade. The moderation in daily new COVID-19 cases in India improved risk sentiments. The Nifty index hovered tad above 15,200 mark.

At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 140.06 points or 0.28% at 50,680.54. The Nifty 50 index gained 32.50 points or 0.21% at 15,207.80.

In the broader market, the S&P BSE Mid-Cap index rose 0.98% while the S&P BSE Small-Cap index gained 0.82%.

The market breadth was strong. On the BSE, 1,909 shares rose and 1,108 shares fell. A total of 184 shares were unchanged.

Derivatives:

 

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, rose 0.64% to 19.2025. The Nifty 27 May 2021 futures were trading at 15,212.35, at a premium of 4.55 points compared with the spot at 15,207.80.

The Nifty option chain for 27 May 2021 expiry showed maximum Call OI of 55.6 lakh contracts at the 15,500 strike price. Maximum Put OI of 56.3 lakh contracts was seen at 15,000 strike price.

Buzzing Index:

The Nifty Media index rose 1.38% to 1,690.60. The index added 2.37% in two sessions.

TV Today Network (up 8.81%), D B Corp (up 3.92%), TV18 Broadcast (up 3.58%), Jagran Prakashan (up 2.94%) and Inox Leisure (up 1.12%) advanced.

Music Broadcast was down 0.43%. As per the bulk deal data on the NSE, Marcellus Investment Managers sold 31,29,319 equity shares, or 0.91% equity, at Rs 23.14 per share of Music Broadcast on Friday, 21 May 2021. Saurabh Mukherjea is the founder and chief investment officer of Marcellus Investment Managers.

Stocks in Spotlight:

Cipla added 0.42%. The drug major will market Roche's antibody cocktail in India. The antibody cocktail (casirivimab and imdevimab) is indicated for restricted use in emergency situation for the treatment of mild to moderate COVID-19 in patients who are at high risk of severe COVID-19.

Cadila Healthcare advanced 2.17% after the pharmaceutical major announced the launch of Trastuzumab Emtansine, the first Antibody Drug Conjugate (ADC) biosimilar for treating both early and advanced HER2 positive breast cancer. The company will market the drug under the brand name Ujvira. HER2 positive breast cancer is considered an aggressive form and constitutes 20 to 25% of all breast cancers. The drug is being offered at Rs 32,495 for a 100 mg vial. The current MRP of existing Trastuzumab Emtansine drug is Rs 1,59,225 for 100 mg vial. Ujvira will be available in two strengths, 100 mg and 160 mg.

Glenmark Pharmaceuticals gained 0.66%. The drug maker said it received ANDA approval for icatibant injection, 30 mg/3 mL (10 mg/mL) single-dose prefilled syringe. Glenmark Pharmaceuticals has received final approval by the United States Food & Drug Administration (USFDA) for icatibant injection. The product is the generic version of Firazyr injection of Shire Human Genetic Therapies. This marks Glenmark's first synthetic decapeptide injectable approval and will be manufactured in their North American manufacturing facility based in Monroe, North Carolina.

Coronavirus Update:

Total COVID-19 confirmed cases worldwide stood at 16,71,78,756 with 34,63,891 deaths. India reported 27,20,716 active cases of COVID-19 infection and 3,03,720 deaths while 2,37,28,011 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Lockdown was extended on Sunday in Delhi, Haryana, Rajasthan and Puducherry, with many states already imposing COVID-induced restrictions till May-end to rein in the spread of infection. Delhi chief minister Arvind Kejriwal announced that the ongoing lockdown in the national capital will continue for another week and said the process of "unlock" will start from 31 May 2021 in a phased manner if the number of COVID-19 cases continues to decline.

Meanwhile, BioNTech's chief executive reportedly said that the COVID-19 vaccine it developed with U.S. pharmaceutical group Pfizer is likely to be effective against the Indian variant of coronavirus.

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First Published: May 24 2021 | 12:30 PM IST

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