Closing Bell: Index Close On Weak Note; Sun Pharma The Top Nifty Gainer

Benchmark indices ended their trading lower in Thursday’s market, with the Sensex falling 382-pts and the Nifty50 index down by 97-pts at 10948.30

Yes bank, SBI, HDFC, Kotak Bank and Axis bank were among major losers on the Nifty while Sun Pharma, Bharti Infratel, JSW Steel Vedanta and Coal India led the set of gainers in the index.

The Nifty Pharma index soared 2.25 pc led by Sun Pharma, Piramal , Biocon, Divis Lab and Glenmark up to 5 pc

Major cuttings were recorded in Nifty financial index, followed by Nifty PSU bank, Bank-Nifty, Private bank and Media index by 1.52 to 2.70% in range. Fall in Nifty media index (-52%) was led by TV18 Broadcast, TV Today Network and Den Networks.

Majority of sugar stocks rose in an otherwise weak market, after the cabinet announced a Rs.6268-Cr subsidy for export of 60-Lakh tonnes of sugar at a cost of Rs6268-Cr, during the 2019-20 marketing year. Rana Sugars (up 4.65%), KM Sugar Mills (up 4.51%), Balrampur Chini Mills (up 2.01%), EID Parry (up 1.48%), Mawana Sugars Sugars (up 0.34%) rose on sugar stocks.

The top Nifty50 index gainer Sun Pharma added 5% after the SEBI gave the the Company a clean chit over a whistle blower complaint in connection with alleged corporate governance issues.

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