Nifty near 10,550 mark; Pharma stocks outperform
Shares of Bharat Petroleum Corp, Indian Oil Corp and Hindustan Petroleum Corp fell nearly 1% each in early trade due to a surge in global crude prices on Tuesday. However, the rise benefitted ONGC stock, which gained 1%.
Shares of Sun Pharmaceutical were the top gainers on the Nifty50, up 5%, after the USFDA accepted a new drug application from the company’s arm for OTX-101.
Banking and financial services stocks were the worst hit today, while those in pharmaceutical, realty and metal were among top gainers.
The broader markets were in-line with the benchmark indices with BSE Midcap up 0.25% and BSE Smallcap index gaining 0.39%.
Sun Pharma (+5%), Cipla (+3%), Bharti Airtel (+2.2%), Yes Bank (+2%) and Tata Steel (+1.9%) were the top gainers on the Nifty50.
India VIX rises 0.82%.
Out of 1,987 stocks traded on the NSE, 977 advanced, 595 declined and 415 remained unchanged today.
A total of 98 stocks registered a fresh 52-week high in trade today, while two stocks touched a new 52-week low on the NSE.