Nifty ends firmly above 10800, Sensex up 257 points; Pharma gains
Markets edged up on Friday with Nifty50 closing above 10,800-levels, even as broader global markets remained weak.
The S&P BSE Sensex ended the day at 35,689, up 257 points while the broader Nifty50 index settled at 10,822, up 81 points.
The top gainers on the Sensex include Sun Pharma, HDFC, Mahindra and Mahindra (M&M), and Axis Bank whereas Reliance Industries (RIL), and Coal India were the major losers.
Among sectoral gainers, banking and finance sectoral indices gained with Nifty Bank, Nifty PSU Bank and Nifty Private Bank index up over 1% each. Meanwhile, Nifty Pharma index was up 1.8% with Sun Pharma gaining over 4%.
Bajaj Finance, which hit a new high of Rs 2,330, up 3% on the BSE in late noon deal on Friday, has surpasses private sector lender Axis Bank in market capitalisation (market-cap) ranking. Thus far in the calendar year 2018 (CY18), Bajaj Finance has outperformed the market by surging 33% as compared to 4% rise in the S&P BSE Sensex. Axis Bank has underperformed the market by falling 8% during the period.
PNB Housing Finance hit its 52-week low of Rs 1,051, down 5% on the BSE. Shares of the housing finance arm of Punjab National Bank (PNB) are trading at its lowest level since March 15, 2017. Since May 2, 2018, PNB Housing Finance has underperformed the market by falling 26% as compared to 1% rise in the S&P BSE Sensex.
Shares of SRF hit a four month low of Rs 1,690, down 5% on the BSE, falling 11% thus far in the current week. The stock of textiles Company was trading at its lowest level since February 6, 2018. Post January-March quarter (Q4FY18) results, SRF has fallen 25% from Rs 2,258 on May 16, as compared to a marginal 0.12% rise in the S&P BSE Sensex.
AstraZeneca Pharma India was up 5% to Rs 1,416 on the BSE in early morning trade after the company said it has received approval from the Drug Controller General of India to market Durvalumab, a cancer treatment medicine.
Som Distillery has informed that the company has got approval for manufacturing of IMFL at its subsidiary Woodpecker Distilleries & Breweries Private Ltd at Hassan, Karnataka and expect to commence commercial production of IMFL from the said facility within the next one month.
Nokia signs five-year global IT infrastructure and application services deal with HCL Technologies
Strides Shasun gets WHO prequalification for its rectal artesunate product.
KPIT and Kinetic Announce Strategic Life Sciences Collaboration.
Havells to acquire remaining 31% stake in subsidiary Promptec.
ICICI Bank: Sebi yet to receive reply on Kochhar issue.
Tata Motors: plans to drive in 50 commercial vehicles this fiscal.
Astral Poly: The company started commercial production of CPVC and PVC pipes at its new plant situated at Ghiloth.
Strides Shasun gets WHO prequalification for its rectal artesunate product.
Here are some picks from the week gone by.
