D-Street Buzz: IT, pharma stocks gain on weak rupee led by Infosys, Dr Reddy’s Labs; Infos…


The Indian market after opening flat has managed to move higher this Friday morning with the Nifty50 up 47 points at 11,724 while the Sensex is trading higher by 127 points at 38,817.

The Nifty midcap index is up half a percent led by Biocon, Godrej Industries, India Cements, JP Associates, Jubilant Food, Mcleod Russel, Petronet LNG and Tata Global among others.

Nifty infra is up 1 percent led by Bharti Infratel, BHEL, Container Corp, Idea Cellular, NHPC and Power Grid.

With the rupee breaching the 71 mark this morning, sectors like IT and Pharma is outperforming all other indices.

The IT index is up 1.5 percent led by HCL Tech, Infosys, Mindtree and Wipro. The other gainers include names like KPIT Tech, Tata Elxsi and Tech Mahindra.

From the pharma space, which is up over 2 percent, the stocks which gained the most are Piramal Enterprises, Aurobindo Pharma and Cadila Healthcare which added 3-4 percent followed by Dr Reddy’s Labs, Glenmark Pharma and Lupin.

Selective realty stocks are also buzzing with gains from Indiabulls Real Estate, HDIL, Prestige Estate and Sobha among others.

From the BSE smallcap space, Jai Corp jumped over 9 percent while ZF Steering added 8 percent. The other gainers include Reliance Industrial Infra, Asian Oil and Universal Cables.

Bharti Infratel, HCL Tech, Dr Reddy’s Labs, Wipro and Infosys are the top gainers on the Nifty.

The most active stocks include YES Bank, Reliance Industries, Sun Pharma, Piramal Enterprises and Infosys.

The top losers include YES Bank, Reliance Industries, Vedanta, Hindalco Industries and Zee Entertainment.

The top BSE gainers are Jai Corp, Reliance Naval, Piramal Enterprises, Cadila Healthcare and BEML.

The top BSE losers include Kwality, YES Bank, HCC, Vakrangee and Kirloskar Oil.

Abbott, Atul, Divis Labs, Glenmark Pharma, Infosys, ITC, Sun Pharma, Torrent Pharma and Whirlpool are some of the few stocks which have hit new 52-week high in the morning trade.

On the other hand, 35 stocks have hit new 52-week low including Amtek Auto, MEP Infra and Lanco Infra among others.

The breadth of the market favoured advances, with 1127 stocks advancing, 467 declining and 472 remaining unchanged. On BSE, 1324 stocks advanced, 605 declined and 86 remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.


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