The barometers revolve around the beach; pharmaceutical stocks progress


Domestic equity barometers traded in a narrow range near the daily high by mid-afternoon. The Nifty was trading above the 17,350 mark. Pharmaceuticals stocks extended their rally for the fifth session in a row.

At 2:27 p.m. IST, the barometer index, the S&P BSE Sensex, was up 478.26 points or 0.83% to 58,272.58. The Nifty 50 index added 153.45 points or 0.89% to 17,357.40.

Overall, the S&P BSE Mid-Cap Index rose 1.28% while the S&P BSE Small-Cap Index rose 1.04%.

The scale of the market was strong. On BSE, 2,447 stocks rose and 901 stocks fell. A total of 107 shares remained unchanged.

Economy:

Finance Minister Nirmala Sitharaman chaired Thursday in New Delhi the pre-budget consultations with the finance ministers of the states and territories of the Union for the Union budget 2022-2023. The meeting was attended by the Union Minister of State for Finance, Chief Ministers, Deputy Chief Ministers, Finance Ministers, Ministers and Senior Officials from States and Union Territories and of the Union government.

The Finance Secretary welcomed all participants to the deliberation and informed the importance of this special consultation meeting. Most participants thanked the Union Minister of Finance for financially supporting their States and Union Territories during the worst months of the pandemic, increasing borrowing limits, providing state-backed loans and through special assistance for capital expenditure.

Participants also made many suggestions to the Union Minister of Finance for inclusion in the budget speech. Sitharaman thanked the participants for their contributions and suggestions regarding the Union budget 2022-2023 and assured to examine each of the proposals.

COVID-19 Update:

India’s active caseload currently stands at 91,361. Active cases represent less than 1% of total cases, currently at 0.26%. The recovery rate is currently 98.36%. India reported 7,585 recoveries in the last 24 hours, bringing the total number of recoveries to 3,426,363.

A total of 16,764 new cases have been reported in India in the past 24 hours. The daily positivity rate (1.34%) is less than 2% in the past 88 days. The weekly positivity rate (0.89%) has been less than 1% in the past 47 days. According to Union Health Ministry data updated Thursday, the country has so far recorded 961 cases of the Omicron variant of the coronavirus in 22 states and UTs.

Buzz Index:

The Nifty Pharma Index rose 0.44% to 14,197.35. The index rose 5.23% in five sessions.

Torrent Pharma (+ 2.57%), Aurobindo Pharma (+ 1.55%), Lupine (+ 1.51%), Sun Pharma (+ 1.08%), Divi’s Labs (+ 0.99%), Biocon (+ 0.94%) and Cadila Healthcare (+ 0.90%) advanced.

At the same time, Granules India (-1.45%), Cipla (-0.95%), Gland Pharma (-0.89%) and Ipca Labs (-0.62%) are down.

Numbers to follow:

The yield on the 10-year federal benchmark paper rose to 6.489% from 6.469% at the close of the previous trading session.

In the forex market, the rupee rose slightly against the dollar. The partially convertible rupee hovered at 74.1150, from its close of 74.4250 on the previous trading session.

MCX gold futures for the February 4, 2022 settlement lost 0.18% to Rs 47,798.

The US dollar index (DXY), which tracks the value of the greenback against a basket of currencies, rose 0.06% to 96.03.

In the commodities market, Brent crude for the February 2022 settlement fell 19 cents or 0.24% to $ 79.34 a barrel.

Global markets:

European stocks fell while Asian stocks ended on a mixed note on Friday in year-end trading.

Chinese factory activity saw an acceleration in growth in December, with the official purchasing managers index (PMI) standing at 50.3 for the month from 50.1 in November, according to data released on Friday. by the country’s National Bureau of Statistics.

Wall Street closed lower on Thursday, falling late in meager vacation volume from records set at the start of the session on strong US data, including a drop in weekly US jobless claims.

On the data front, new claims for unemployment benefits in the United States fell in the week leading up to Christmas and benefit lists slipped to their lowest in the era of the coronavirus pandemic this week. previous, the Labor Department said Thursday. Initial claims for state unemployment benefits fell to 198,000 seasonally adjusted for the week ended December 25, from 206,000 revised a week earlier.

Powered by Capital Market – Live News

(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

About Nicole Harmon

Check Also

Sensex loses 627 points; Clever below 16,400

Benchmarks continued to trade with heavy losses mid-afternoon. The Nifty slipped below 16,400 again. Oil …