NIFTY TRADES NEAR 22,500 LEVEL; PHARMA SHARES IN DEMAND

The key equity barometers traded with moderate gains in the morning trade. The Nifty traded near the 22,500 level. Pharma shares advanced after declining in the past trading sessions.

At 10:30 IST, the barometer index, the S&P BSE Sensex, advanced 291.97 points or 0.43% to 74,143.70. The Nifty 50 index added 95.30 points or 0.43% to 22,492.50.

In the broader market, the S&P BSE Mid-Cap index advanced 0.63% and the S&P BSE Small-Cap index rose 0.42%.

The market breadth was positive. On the BSE, 2,014 shares rose and 1,690 shares fell. A total of 210 shares were unchanged.

Economy:

India`s forex reserves increased to $653.97 billion in the week ending March 7, 2025, up by $15.26 billion, said the Reserve Bank of India on Friday.

According to the Weekly Statistical Supplement released by the RBI, foreign currency assets (FCAs) were up by $13.93 billion to $557.28 billion.

Gold reserves saw a surge of $1 billion to $74.32 billion. Meanwhile, SDRs for the above-mentioned week increased by $212 million to stand at $18.21 billion. Reserve position in the IMF was up by $69 million to $4.1 billion.

Buzzing Index:

The Nifty Pharma index advanced 1.52% to 20,697.35. The index shed 0.18% in the past trading session.

Dr Reddy`s Laboratories (up 3.18%), Granules India (up 2.71%), Ajanta Pharma (up 2.7%), Natco Pharma (up 2.54%), Glenmark Pharmaceuticals (up 2.14%), Cipla (up 2.02%), Alkem Laboratories (up 1.77%), Lupin (up 1.73%), Sun Pharmaceuticals Industries (up 1.67%) and Laurus Labs (up 1.65%) advanced.

On the other hand Mankind Pharma (down 0.89%), J B Chemicals & Pharmaceuticals (down 0.01%) edged lower.

Stocks in Spotlight:

Alkem Laboratories added 1.33% after the company announced that the United States Food and Drug Administration (USFDA) conducted a Bioresearch Monitoring (BIMO) inspection at its Bioequivalence Center in Taloja, Maharashtra.

Zydus Lifesciences rose 1.52% after the firm said that the US Food and Drug Administration (USFDA) conducted a surveillance inspection at the company�s Active Pharmaceutical Ingredient (API) Unit 1, located in Ankleshwar, Gujarat.

G R Infraprojects rose 0.52%. The company announced that it has been selected as the preferred bidder for the Agra-Gwalior Greenfield Road Project, tendered by the National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways.

Powered by Capital Market - Live News