The benchmark indices continued trading higher in early afternoon trade. The Nifty was hovering above 15,800 level. Pharma stocks were in demand.
At 12:20 IST, the barometer index, the S&P BSE Sensex, rose 284.96 points or 0.54% at 52,834.62. The Nifty 50 index gained 81.05 points or 0.51% at 15,829.50.
In the broader market, the S&P BSE Mid-Cap index added 0.24% while the S&P BSE Small-Cap index rose 0.72%.
The market breadth was strong. On the BSE, 1,901 shares rose and 1,188 shares fell. A total of 142 shares were unchanged.
Coronavirus Update:
Total COVID-19 confirmed cases worldwide stood at 18,18,13,645 with 39,37,893 deaths. India reported 5,37,064 active cases of COVID-19 infection and 3,98,454 deaths while 2,94,27,330 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Addressing media in New Delhi last evening, Joint Secretary in the Health Ministry Lav Agarwal the overall COVID-19 recovery rate has reached the mark of 96.9%. He said, there are currently 565 districts in the country where the case positivity rate is less than 5%.
Agarwal said, by last evening, India has crossed the 33-crore mark in vaccination coverage. He also informed that in rural areas, the vaccination coverage from 1st of May to 24th of June is 9.72 crore doses which comprises 56% of the total vaccination while in urban areas the coverage stands at 7.68 crore doses which is 44%.
Derivatives:
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, fell 2.23% to 12.7125. The Nifty 29 July 2021 futures were trading at 15,863.95, at a premium of 34.45 points as compared with the spot at 15,829.50.
The Nifty option chain for 29 July 2021 expiry showed maximum Call OI of 22.4 lakh contracts at the 16,000 strike price. Maximum Put OI of 29.3 lakh contracts was seen at 15,500 strike price.
Buzzing Index:
The Nifty Pharma index rose 0.34% to 14,378.65. The index rose 2.94% in the past four sessions.
Divi's Laboratories (up 1.40%), Sun Pharmaceutical Industries (up 0.72%), Cadila Healthcare (up 0.46%), Aurobindo Pharma (up 0.27%) and Dr Reddy's Laboratories (up 0.14%) were the top gainers in Pharma segment.
Cipla (down 0.29%), Dr Reddy's Laboratories (up 0.14%), Emcure Pharmaceuticals, Sun Pharmaceutical Industries (up 0.72%) & Torrent Pharmaceuticals (down 0.12%) will collaborate for the clinical trial of investigational oral anti-viral drug Molnupiravir for the treatment of mild COVID-19 in India.
Between March 2021 and April 2021, the five pharmaceutical companies had individually entered into a non-exclusive voluntary licensing agreement with Merck Sharpe Dohme (MSD) to manufacture and supply Molnupiravir to India and over 100 low and middle-income countries (LMICs).
The five pharma companies have entered into a collaboration agreement, wherein the parties will jointly sponsor, supervise and monitor the clinical trial in India. As per the directive of the Subject Expert Committee (SEC) of the Central Drugs Standard Control Organization, Dr Reddy's Laboratories will conduct the clinical trial using its product, and the other four pharma companies will be required to demonstrate equivalence of their product to the product used by Dr Reddy's Laboratories' in its clinical trial.
Lupin lost 0.49%. The drug major bagged tentative approval from the USFDA under the US President's Emergency Plan for AIDS Relief for its New Drug Application for Dolutegravir, Lamivudine & Tenofovir Disoproxil Fumarate tablets and antiretroviral Fixed Dose Combination (FDC).
This product would be manufactured at Lupin's Nagpur facility (Maharashtra) in India. Lamivudine and Tenofovir Disoproxil Fumarate Tablets (TLD) is recommended by World Health Organisation (WHO), the U.S. Agency for International Development (USAID), and U.S. President's Emergency Plan (PEPFAR) as a preferred first-line treatment regimen for the treatment of HIV in adults and pediatric patients weighing at least 35 kg, and will be available for supplies to low-and- middle-income countries (LMIC).
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