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Mid-day trends: Sensex and Nifty steady, pharma stocks gain


Sensex and Nifty remained relatively unchanged on Wednesday amid lacklustre trading conditions, primarily driven by risk aversion sparked by concerns about global economic growth due to rising oil prices. At noon, the Nifty 50 index displayed a modest 0.09% increase, reaching 19,593.05, while the S&P BSE Sensex dipped 0.16% to 65,672.16.

In contrast, the Nifty Pharma Index demonstrated considerable strength, surging by more than 1%. Torrent Pharma led the pack with a remarkable 2% gain, accompanied by notable performers such as Lupin, Divis Labs, Cipla, Natco Pharma, and Sun Pharma.

At noon, there were 1,814 advancing stocks compared to 1,666 declining stocks on BSE, out of a total of 3,643 traded. Additionally, 254 stocks hit a 52-week high, while 8 reached a 52-week low.

Notable gainers on the NSE at noon included Divi’s Laboratories (0.96%), Sun Pharma (0.82%), HDFC Bank (0.81%), Bharti Airtel (0.73%), and HDFC Life (0.69%). On the flip side, major losers were NTPC (-2.09%), Tata Steel (-0.09%), Hindalco (-2.03%), Jio Financial (-1.76%), and Tech Mahindra (-1.36%).

Several specific companies attracted significant trading interest due to noteworthy increases in their stock prices:

HLV Ltd., the operator of The Leela Mumbai, recorded a robust 14% stock price surge, driven by substantial trading volumes

Sasken Technologies witnessed an impressive 13.23% surge in its NSE stock price, reaching ₹1,127, following the appointment of Girish B V S as its Chief Technology Officer.

Nila Infrastructures experienced an 18.75% surge in its NSE stock price, currently trading at ₹6.65, after securing a construction project for 1694 residential flats in Ahmedabad.

3i Infotech saw a 7% increase in its NSE stock price, now at ₹42.80, following its announcement of a partnership with InsureMO, an insurance middleware platform.

Indian Card Clothing Company observed a substantial 14.71% surge in its NSE stock price, now standing at ₹312.25.

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