Indian equities settle a tad up, Nifty pharma top gainer
Mumbai, December 29, 2021
The Indian equity indices -- S&P BSE Sensex and NSE Nifty50 -- settled marginally higher on Wednesday.
The Sensex and Nifty settled at 57,806 points and 17,213 points, respectively, up 0.2 per cent and 0.1 per cent from their previous close.
Even though the benchmark indices traded marginally higher, the majority of the sectoral indices tanked on Wednesday, NSE data showed.
Among the stocks, Eicher Motors, Bajaj Auto, Sun Pharma, Divi Labs, and Indusind Bank were some of the top gainers, rising 3.4 per cent, 2.9 per cent, 2.3 per cent, 2.1 per cent, 1.7 per cent, respectively.
During the session, State Bank of India, ITC, Coal India, Grasim Industries, and NTPC were the top losers.
"Outweighing weak sentiments in most sectors, the pharma sector aided the domestic market to close on a flat note with a positive bias," said Vinod Nair, Head of Research at Geojit Financial Services.
"Emergency Use Authorization of Covid vaccines Corbevax and Covovax along with the clearance of anti-viral drug Molnupiravir for restricted use has boosted the appetite for most pharma stocks today."
Nair added that FIIs were net buyers for the first time this month which helped the market.