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Market bounces back, Pharma emerges as top performer

At close, the Sensex was up 759.05 points or 0.96% at 79,802.79, and the Nifty was up 216.90 points or 0.91% at 24,131.10.

Market bounces back, Pharma emerges as top performer

Photo: Representative Picture (IANS)

The stock market, on Friday, bounced back after witnessing a steep fall in the previous session. The rise was led by buying in heavyweights and across sectors, barring realty and PSU banks.

At close, the Sensex was up 759.05 points or 0.96% at 79,802.79, and the Nifty was up 216.90 points or 0.91% at 24,131.10.

On a weekly basis, BSE Sensex and Nifty gained 1% each, while on a monthly basis in November, Sensex added 0.5%, and Nifty slipped 0.30%.

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The top gainers in the Nifty index were Bharti Airtel (4.28%), Cipla (2.76%), Sun Pharmaceutical Industries (2.69%), Mahindra & Mahindra (2.33%), and Adani Ports & Special Economic Zone (1.92%).

On the other hand, the top losers were Power Grid Corporation of India (1.27%), Shriram Finance (0.79%), Hero Motocorp (0.46%), Apollo Hospitals Enterprise (0.18%), and Nestle India (0.07%).

On the NSE, nearly 190 stocks touched their 52-week high including, Avalon Technologies, Computer Age Management Services, Capacite Infra, Caplin Labs, Hikal, KFin Technologies, Kirloskar Pneumatic, Laurus Labs, Lloyds Metals, Mangalore Chemicals, Marksans Pharma, Paytm, Orchid Pharma, PG Electroplast, Pitti Engineering, Praj Industries, Sterling Tools, Wockhardt, among others.

The BSE Midcap index was up 0.3% and the Smallcap index rose 0.7%.

The market capitalization of BSE-listed companies jumped to Rs 446.47 lakh crore, from Rs 442.98 lakh crore in the previous session.

Among the sectors, except for realty and PSU Bank, all others ended in the green with auto, energy, pharma, and media up 1-2%.

Nifty Pharma emerged as the top performer with a gain of 2.35%, breaking its three-day losing streak.

Nifty Realty and Nifty PSU Bank closed with losses of 0.59% and 0.56%, respectively.

Two of the group’s stocks, including Adani Green Energy and Adani Energy Solutions, surged sharply by 21.8% and 15.6%, respectively, as both stocks began trading within the Futures & Options (F&O) segment on Friday.

Among the individual performers, shares of Bharti Airtel rose 4% emerging as the top gainer after ICICI Securities upgraded the stock to Buy.

Divi’s Laboratories shares gained 4% after international brokerage Citi reiterated its bullishness over the stock.

Shares of Easy Trip Planners surged 10% after the stock turned ex-bonus.

CreditAccess Grameen fell 8.5% after international brokerage Goldman Sachs slashed its rating on the microfinance player as the earnings outlook remains clouded.

India’s GDP growth slowed to a near two-year low of 5.4% y-o-y) in Q2FY25. The growth is lower than the industry expectations and is likely to reflect on the market performances on Monday’s trade.

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