Indices trade near flat line; pharma shares in demand

The key equity benchmarks traded with minor losses in the morning trade. The Nifty hovered below the 23,800 level. pharma shares extended gains for the third consecutive trading session.

At 10:29 IST, the barometer index, the S&P BSE Sensex, declined 36.28 points or 0.05% to 78,662.79. The Nifty 50 index shed 17.35 points or 0.07% to 23,796.05.

In the broader market, the S&P BSE Mid-Cap index added 0.14% and the S&P BSE Small-Cap index fell 0.13%.

The market breadth was negative. On the BSE, 1,718 shares rose and 2,021 shares fell. A total of 244 shares were unchanged.

New Listing:

Shares of Senores Pharmaceuticals were currently trading at Rs 576.75 at 10:24 IST on the BSE, representing a premium of 47.51% as compared with the issue price of Rs 391.

The scrip was listed at Rs 593.70, exhibiting a premium of 51.84% to the issue price.

So far, the stock has hit a high of 609 and a low of 573. On the BSE, over 5.77 lakh shares of the company were traded in the counter so far.

Shares of Ventive Hospitality were currently trading at Rs 716.95 at 10:26 IST on the BSE, representing a premium of 11.50% as compared with the issue price of Rs 643.

The scrip was listed at Rs 718.15, exhibiting a premium of 11.69% to the issue price.

So far, the stock has hit a high of 748.80 and a low of 710. On the BSE, over 5.92 lakh shares of the company were traded in the counter so far.

Shares of Carraro India were currently trading at Rs 655.70 at 10:18 IST on the BSE, representing a discount of 6.86% as compared with the issue price of Rs 704.

The scrip was listed at Rs 660, exhibiting a discount of 6.25% to the issue price.

So far, the stock has hit a high of 682 and a low of 633.30. On the BSE, over 1.71 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty pharma index rose 0.45% to 23,112.50. The index added 2.45% in three consecutive trading sessions.

Biocon (up 2.52%), Abbott India (up 2.1%), Alkem Laboratories (up 1.52%), Lupin (up 1.13%), Laurus Labs (up 1.08%), Glenmark Pharmaceuticals (up 0.48%), Ipca Laboratories (up 0.45%), Aurobindo Pharma (up 0.37%), Natco Pharma (up 0.36%) and Divis Laboratories (up 0.34%) advanced.

On the other hand, Ajanta Pharma (down 3.24%), Gland Pharma (down 1.14%) and J B Chemicals & Pharmaceuticals (down 0.75%) edged lower.

Stocks in Spotlight:

Kothari Products added 3.33% after the company announced that its board has approved the issue of bonus shares in the ratio of 1:1, subject to the approval of the shareholders of the company.

Mahindra & Mahindra shed 0.95%. The company announced that its wholly owned subsidiary Mahindra Susten (MSPL) has incorporated a wholly owned subsidiary Ultrogen Hybren (Ultrogen Hybren) in Mumbai, Maharashtra.

Suprajit Engineering rose 0.12%. The company said that it has incorporated the company Suprajit Chuhatsu Control Systems in India to manufacture and trade various components for the automobile industry.

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