Market Commentary     22-Jul-24
Mid-Session
Indices pare losses; pharma shares advance
The equity benchmarks pared early losses and traded with minor gains in morning trade. The Nifty traded above the 24,550 mark. Pharma shares advanced after declining in the past trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was up 118.43 points or 0.14% to 80,715.34. The Nifty 50 index rose 37.30 points or 0.15% to 24,564.80.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index added 1.03% and the S&P BSE Small-Cap index gained 0.80%.

The market breadth was positive. On the BSE, 2,299 shares rose and 1,377 shares fell. A total of 193 shares were unchanged.

Result today:

Coforge (up 0.52%), Cyient DLM (up 2.08%), Dodla Dairy (up 2.84% ), Greenlam Industries (down 0.84% ), IDBI Bank (up 1.38%), Indian Overseas Bank (up 0.64% ), Mahindra Logistics (up 1.45%), Maharashtra Scooters (up 0.34%), Mangalore Refinery & Petrochemicals (up 1.60%), Poly Medicure (up 2.13%), Supreme Industries (up 0.60%), Suzlon Energy (up 0.73%), UCO Bank (up 0.29%), Zensar Technologies (up 0.67% ) and ZF Commercial Vehicle Control System India (down 0.44%) will announced their quarterly earnings later today.

Buzzing Index:

The Nifty Pharma index rose 0.96% to 20,319.70. The index shed 1.65% in the past trading sessions.

Torrent Pharmaceuticals (up 2.21%), Granules India (up 1.84%), Natco Pharma (up 1.49%), J B Chemicals & Pharmaceuticals (up 1.31%), Lupin (up 1.31%), Alkem Laboratories (up 1.25%), Zydus Lifesciences (up 1.19%), Dr Reddys Laboratories (up 1.06%), Ipca Laboratories (up 1.06%) and Sanofi India (up 0.79%) edged higher.

On the other hand, Mankind Pharma (down 0.57%), Abbott India (down 0.45%) and Glenmark Pharmaceuticals (down 0.21%) declined.

Stocks in Spotlight:

Nippon Life India Asset Management rallied 4.24% after the company’s consolidated net profit jumped 40.99% to Rs 332.33 crore in Q1 FY25 as compared with Rs 235.72 crore posted in Q1 FY24. Total income climbed 34.98% year on year (YoY) to Rs 635.76 crore in the quarter ended June 2024.

Oberoi Realty advanced 4.05% after the real estate developer’s consolidated net profit surged 81.73% to Rs 584.51 crore in Q1 FY25 as against Rs 321.64 crore posted in Q1 FY24. Revenue from operations climbed 54.42% to Rs 1405.16 crore in Q1 FY25 as compared to Rs 909.97 crore recorded in the corresponding quarter last year.

Previous News
  Oberoi Realty appoints director
 ( Corporate News - 03-Jul-25   13:45 )
  DLF Ltd Spurts 1.43%
 ( Hot Pursuit - 01-Jul-25   09:30 )
  Nippon Life India Asset Mgt. to discuss results
 ( Corporate News - 27-Jun-25   11:32 )
  Nippon Life India Asset Management allots 2.22 lakh equity shares under ESOP
 ( Corporate News - 10-Jun-25   15:51 )
  Oberoi Realty’s Commercial Real Estate CEO Pankaj Gupta steps down
 ( Hot Pursuit - 10-Jun-25   09:58 )
  Oberoi Realty AGM scheduled
 ( Corporate News - 09-Jun-25   14:52 )
  Oberoi Realty Ltd Spurts 0.76%, BSE Realty index Gains 1.17%
 ( Hot Pursuit - 09-Jun-25   09:30 )
  Oberoi Realty Ltd Spikes 1.3%
 ( Hot Pursuit - 04-Jun-25   09:30 )
  Nippon Life India Asset Management allots 95,692 equity shares under ESOP
 ( Corporate News - 23-May-25   16:23 )
  Oberoi Realty gains after Elysian Tower D records bookings worth Rs 970 crore
 ( Hot Pursuit - 05-May-25   12:52 )
  Oberoi Realty
 ( Results - Analysis 29-Apr-25   08:07 )
Other Stories
  Benchmarks trade with tiny cuts; consumer durables shares under pressure
  04-Jul-25   14:41
  Market trade lower; European mrkt decline
  04-Jul-25   13:42
  Nifty below 25,400 level; metal shares decline
  04-Jul-25   12:30
  Nifty slides below 25,400 level; auto shares decline
  04-Jul-25   11:31
  Indices trade near flat line; media shares advance
  04-Jul-25   10:37
  Barometers nudge higher; breadth strong
  04-Jul-25   09:36
  Barometers pare all gains; Nifty slides below 25,450
  03-Jul-25   14:37
  Indices trade in positive terrain; European mrkt advance
  03-Jul-25   13:40
  Nifty tad above 25,500 level; consumer durables shares rally for 4th day
  03-Jul-25   12:32
  Indices trade higher; auto shares rally for 2nd day
  03-Jul-25   11:37
Back Top