Sensex, Nifty inch higher as pharma, financial stocks surge

Stocks to watch: ZEEL, HPCL, Axis Bank, IB Housing Fin, fertiliser stocks

By Administrator_India

Capital Sands

India shares edged higher on Monday, with a positive tone to global stock markets and gains for pharmaceutical and financial companies outweighing the impact of a record surge in domestic coronavirus cases.

The Nifty rose 0.51% to 10,303 by 0346 GMT, while the Sensex was up 0.55% at 34,922.50.

The Nifty Pharma index surged 2.5%, while the bank index rose 1.2%.

Shares of Cipla Ltd rose 7.5% and was a top boost to the Nifty 50 index after India’s drug regulator gave green light to manufacture and market their generic version of Gilead Sciences Inc’s experimental COVID-19 treatment remdesivir.

Shares of Glenmark Pharmaceuticals Ltd spiked nearly 10% after the drugmaker on Friday received Indian regulatory approval to make and sell oral antiviral drug favipiravir for treating mild-to-moderate COVID-19 infections in the country.

The Nifty finished 2.72% higher last week, while the Sensex closed up 2.81%.

Meanwhile, U.S. stock futures erased losses and Asian stocks held flat on Monday.

Related Posts
Oil prices rise on supply woes
Financial News

Oil prices rose in early Asian trade on Wednesday, paring losses from the previous session, as concern over tight supplies Read more

Oil and gas stocks tumble as Brent hits $100 mark on Russia-Ukraine crisis; IGL, RIL, Petronet fall
Oil and gas stocks

Stock markets across the world are feeling the heat as Russian President Vladimir Putin announced a military operation in Ukraine to Read more

Stocks bounce from 4-week lows, dollar pulls back
Stocks bounce from 4-week lows, dollar pulls back

By Administrator_India Capital Sands Global shares extended their recovery on Tuesday, with Asian markets bouncing from four-weeks lows as investor Read more

Stocks To Watch: Tech Mahindra, HDFC Life Insurance, SBI Cards and Payment
Stocks To Watch: Tech Mahindra, HDFC Life Insurance, SBI Cards and Payment

By Administrator_India Capital Sands The stock markets are likely to open flat, post the 1 per cent rally witnessed in Read more

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x