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Share Market Update: Pharma Shares Gains; Cipla Advanced 4 per cent

pharma-shares-advance

New Delhi: On Monday’s session, Pharmaceutical shares again traded higher with their sectoral index advances. Around 11:45 AM, the Nifty pharma index was trading at 10241.95 points up by 2.4 per cent.

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Glenmark Pharma gush 35%, Biggest Intraday Rise in Covid-19 Drug Launch History

biggest-intraday-riseIn Monday trade, Glenmark Pharma shares saw a spout of 35 per cent after the announcement of launching an antiviral drug Favipiravir, under FabiFlu brand name on Saturday to treat mild to moderate Covid-19 patients at a price of Rs 103per tablet.

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Tech View: Nifty Topped 100 Day SMA, New Expectations of Recent High at 10,328

nifty-takes-out-100-day-smaNew Delhi: On Friday, Nifty50 takes out 100-Day Simple Moving Average (SMA) at 10,200 points. There now much on lines after following a hurdle breach at 10,000 level in Thursday’s session. Analysts expect the index to reach the recent high of 10,328 or could also reach 10,550 points in the short run. Next week immediate support will be at 10,100 points for Nifty50.

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Share Market Update: 56 Stocks Made New 52-Week Highs on NSE Chart

56-stocks-hit-52-week-highsNew Delhi: On Thursday share market session, about 56 stocks hit their 52 weeks high on NSE.

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Tech View: Nifty50 Stumbles at 10k, Inside Bar Signals Dark Clouds

nifty50-stumbles-at-10k-forms-inside-bar-warning-bullsNew Delhi: Another day in the stock market where Nifty50 flirted with key hurdles at 10,000 points, before losing intraday gains.

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Saudi Arabia’s PIF to buy 2.33% Stake in RIL’s Jio for $1.5 Billion

saudi-arabias-pif-set-to-pick-up-2-33-stake-in-rils-jio

Mumbai: Reliance Industries to sell out 2.33% share of RIL’s Jio to Saudi Arabia’s wealth fund Public Investment for $1.5 billion, Gulf News reported on Monday.

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Tech View: After Very Smart Rebounding, Nifty 50 Signals Consolidation

tech-view-after-very-smart-rebounding-nifty-50-signals-consolidationNew Delhi: On Friday, Nifty50 tested 9,550 points before staging a smart rebound. At a time of a day, it almost looked like the index would hit the 10,000 points but it missed by a very small difference. The index closed at 9,972 level up by 0.72 per cent or 70.90 points.

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Nifty Showing Bears Dominance, but VIX Signals No Big Drop Ahead

Investors-do-not-need-to-worryNew Delhi: “On Thursday, the Index fell below the support level on closing basis for the first time in continuous six sessions. Nifty formed a bearish candle on the daily chart and broke crucial support at 10,000 points. It is now staring at the downward trend with support at 9,800 and key resistance at 10,100 levels” Analysts said.

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The U.S Stock Gains as Fed Assures Support

S&P-500-turned-positive-after-fed-statementThe S&P 500 turned positive on Wednesday after Federal Reserve pledged support again for the economy. Before the Feds statement, the S&P 500 was down about 0.8 per cent. The technological sector led the gains following Nasdaq went more than 1 per cent up.

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Investors Need to be Careful In Canny Market

investors-need-to-be-careful

Investors need to be more careful in the current market while investing as it tends to bring investors in and then trap them. Even after the reopening of malls, hotels, restaurants, shops, and cinema halls have majorly remained empty. But the domestic equity market is overflooded with traders.