Markets close higher; Pharma stocks outperform

The Nifty Pharma index closed ~5% higher as the share price of its major heavyweights like Lupin, Divis labs & Cipla surged ~10% higher.

Aug 10, 2020 03:08 IST India Infoline News Service

Domestic markets traded with a positive bias for a major part of the day as across the board buying weighed in. The Nifty and Bank Nifty index closed higher, gaining ~0.5%. The Nifty Pharma index closed ~5% higher as the share price of its major heavyweights like Lupin, Divi's Labs and Cipla surged ~10% higher, along with an addition of fresh long positions.

Nifty Midcap100 index closed ~3% higher. The market breadth ended in favour of the advances with the advance/decline closing at 1:1x.

Nifty and Bank Nifty future added fresh long positions. On the options front (August 13, 2020 expiry), across the board put option writing was seen in Nifty and Bank Nifty index as the indices trended higher.

India Vix index closed at 22.5, down 0.53%
Top 2 F&O Gainers: DIVIS & CIPLA
Top 2 F&O Losers: RBL & MUTHOOT
Nifty +61 @11,275
Bank Nifty +173 @21,927

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