The domestic equity barometers extended gains and hit fresh highs in mid afternoon trade. The Nifty was trading above the 16,500 mark. Pharma shares declined for the fourth day in a row.
At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 541.76 points or 0.99% to 55,385.74. The Nifty 50 index added 143.60 points or 0.88% to 16,508.
The Sensex hit a record high of 55,362.89 and the Nifty hit a record high of 16,507.35 in afternoon trade.
In the broader market, the S&P BSE Mid-Cap index fell 0.02% while the S&P BSE Small-Cap index rose 0.06%.
The market breadth was positive. On the BSE, 1521 shares rose and 1641 shares fell. A total of 127 shares were unchanged.
Buzzing Index:
The Nifty Pharma index slipped 0.40% to 14,077. The index has declined 3.14% in four straight sessions.
Aurobindo Pharma (down 7.24%), Cipla (down 0.76%), Biocon (up 0.58%), Dr. Reddy's Labs (down 0.56%) and Alkem Laboratories (down 0.44%) declined.
Meanwhile, Cadila Healthcare (up 2.69%), Torrent Pharma (up 1.16%), Divi's Labs (up 0.63%), Sun Pharma (up 0.31%) and Lupin (up 0.26%) edged higher.
Stocks in Spotlight:
Gujarat Fluorochemicals rose 2.54% to Rs 1736.90. The company's consolidated net profit jumped 115.36% to Rs 151.16 crore on 63.27% rise in revenue from operations to Rs 911.94 crore in Q1 FY22 over Q1 FY21. On a sequential basis, net profit increased by 37% while revenue from operations grew by 8.53% in Q1 FY22 over Q4 FY21.
Zensar Technologies added 0.93% to Rs 422.05. The IT company announced it has signed a four year multi-million-dollar contract with the City of San Diego for Workplace and Enterprise Compute Manage IT services. The contract has the option of extension of two additional two-year terms with the total not to exceed the value of $122 million.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee rose to 74.2925 from its previous closing of 74.2550.
MCX Gold futures for 5 October 2021 settlement rose 0.27% to Rs 46,490.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.07% to 92.97.
The yield on 10-year benchmark federal paper rose to 6.234% from its previous close of 6.226%.
In the commodities market, Brent crude for October 2021 settlement declined 41 cents or 0.57% to $70.90 a barrel.
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