Benchmarks trade with minor gains; pharma shares rise
Jul 23, 2020 10:22 AM | Source: bjlbjtgl.com
Key benchmark indices traded with minor gains in morning trade. At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 55.98 points or 0.15% at 37,927.50. The Nifty 50 index was up 27.80 points or 0.25% at 11,160.40.
In the broader market, the S&P BSE Mid-Cap index rose 0.74% while the S&P BSE Small-Cap index gained 0.57%.
The market breadth was strong. On the BSE, 1253 shares rose and 788 shares fell. A total of 124 shares were unchanged.
Biocon (up 0.89%), HDFC AMC (down 0.11%), Dish TV(up 0.13%), AU Small Finance Bank (up 1.18%), MphasiS (up 0.15%), ABB India (up 1.60%), PNB Housing Finance (up 1.57%), Radico Khaitan (up 3.32%), Sterlite Technologies (up 2.40%), Bank of Maharashtra (up 2.15%) and Zensar Technologies (up 5.32%) will announce their quarterly earnings today.
The Nifty Pharma index advanced 0.83% to Rs 10,259.75, extending gains for second day. The index has added 1.04% in two sessions while the benchmark Nifty 50 index lost 0.08% during the same period.
Divi's Labs (up 3.50%), Cipla (up 1.04%) and Lupin (up 0.86%) were the top index gainers.
Stocks in Spotlight:
Shares of Rossari Biotech were trading at Rs 684 at 10:07 IST on BSE, a premium of 60.94% over the initial public offer price of Rs 425.
The stock debuted at Rs 670, a premium of 57.65% to the initial public offer (IPO) price. So far the stock hit a high of Rs 698.35 and low of Rs 669.70. On BSE, so far 6.82 lakh shares were traded on the counter while on NSE, 78.53 lakh shares were traded so far.
The initial public offer (IPO) of Rossari Biotech received bids for 64.87 crore shares as against 81.73 lakh shares on offer, as per the National Stock Exchange of India (NSE) website data on 15 July 2020. The issue was subscribed 79.37 times.
Vodafone Idea rose 2.11% to Rs 8.71. According to the media reports, the Supreme Court (SC) on Wednesday dismissed a petition filed by the income tax department challenging a recent Bombay high court order, which had asked the department to refund Rs 833 crore to the teleco. The refund is for the 2014-15 assessment year.