Nifty climbs above 24,700 level; pharma shares rally for 2nd day
Pharma shares rallied for the second consecutive trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex advanced 357.15 points or 0.44% to 81,355.40. The Nifty 50 index added 117 points or 0.48% to 24,730.65.
In the broader market, the S&P BSE Mid-Cap index rose 0.41% and the S&P BSE Small-Cap index added 0.68%.
The market breadth was strong. On the BSE, 2,420 shares rose and 1,108 shares fell. A total of 210 shares were unchanged.
Buzzing Index:
The Nifty Pharma index jumped 1% to 21,585.35. The index increased 1.08% for the two consecutive trading sessions.
Dr Reddys Laboratories (up 2.88%), Glenmark Pharmaceuticals (up 2.46%), Zydus Lifesciences (up 1.98%), Laurus Labs (up 1.76%), Lupin (up 1.74%), Aurobindo Pharma (up 1.48%), Cipla (up 1.23%), Natco Pharma (up 0.94%), Mankind Pharma (up 0.65%) and Alkem Laboratories (up 0.61%) advanced.
Dr. Reddy's Laboratories rose 2.88% after the company announced a collaboration with Iceland-based Alvotech to co-develop and commercialize a biosimilar to Keytruda (pembrolizumab) for global markets.
Stock in Spotlight:
CESC shed 0.09%. The company said that its subsidiary, Purvah Green Power, has signed a framework agreement with Envision Energy India for the supply and commissioning of 1 GW wind turbine generators (WTGs)
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