This week took-off with a strong bull pulling the market to end high by registering last-hour selling for booking profits. BSE Sensex index surges 179 points to close at 34911 droppings from a high of 35213. While NSE Nifty50 index trades above 66 points to 10311 testing the high of 10400 levels but failed to hold on. Pharma sector gained the highest followed by Power, Metals, Banks and Telecom sector. Rupee makes positive gains settling high against the US Dollar index.
Hefty gains in Indian equity market amid the rising tension of the 2nd wave of Coronavirus held the investors’ sentiments high. Today’s market focused on regulatory approval to start the manufacturing of COVID-19 vaccine. Domestic pharma stocks went rocket high with expectations of faster recovery and lowering down of infections. Moreover, analysts advise to look out for India-China border situations and a spike in COVID-19 cases and shift to short-term investment.
Shares of Glenmark Pharmaceuticals rose above 35% in today’s session after receiving the regulatory approval for marketing and manufacturing the drug named Favipiravir to treat minor-moderate Coronavirus patients across the country. After opening at INR 407.10, the stock price surged to the high of INR 572.70. Further, the drug was given clearance by medical authorities of Japan, Saudi Arabia, China with other countries. Also, a familiar version with the name Fabiflu will be marketed for INR 3500 that includes a strip of 34 tablets.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Glenmark topped the list by 27.06% with releasing of COVID-19 vaccine. Other top gainers include Nitin Spinners, Prime Sec, SMS Lifescience and Indraprastha rising 20%, 20%, 19.99% and 19.93% respectively. In the NSE market, Glenmark was at the top by 26.97%. Following that, Kirloskar Industries, Suven Pharma, Coral India Finance and India Bulls Housing gains 20%, 19.99%, 19.95% and 19.08% respectively.
On BSE Sensex index, Bajaj Auto lead the rally with 6.63%. Followed by Bajaj Finance, Axis Bank and Asian Paint rising by 5.34%, 3.13% and 1.92% respectively. On NSE Nifty50 index, Bajaj Finance surged the highest by 5.25%. Meanwhile, other top gainers include Coal India, Vedanta, Kotak Mahindra and Cipla rising 4.66%, 4.56%, 4.06% and 3.10% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, Mac Hotels lost the most by 20%. Other top losers include Cospower, Anish Pharma, Sarthak Metals and Hind Tin Works losing by 15.49%, 12.50%, 9.97% and 9.33% respectively. On the other hand, in the NSE market, Bhagyanagar Industries lead the losing rally by 8.26%. Subsequently, Sarda Energy, LT Foods, Zuari Global and Solex Energy dipping by 8.16%, 7.81%, 7.52% and 6.25% respectively.
On BSE Sensex index, a total of 10 stocks were in losing section. HDFC lost the highest by 1.13%. Followed by ONGC, TCS, Reliance and Infosys by 0.99%, 0.92%, 0.70% and 0.28% respectively. Similarly, on NSE Nifty50 index, Wipro slumped the most by 1.80%. Other losing stocks include GAIL, HDFC, Hindalco and Britannia dropping 1.21%, 0.86%, 0.63% and 0.50% respectively.
FII and DII
Foreign Institutional Investors invested a lump-sum amount of INR 424.21 crores tracking strong equity run and gain of Rupee against US Dollar. In today’s session, foreign investors also bought stocks of value INR 5467.93 crores and sell-off a total of INR 5043.72 crores making positive gains.
Domestic Institutional Investors took out an investment of INR 1287.69 crores booking profits with upliftment in the market. Further, they bought a total of INR 4781.76 crores and sold-off stocks of value INR 6069.45 crores making a negative domestic investment.