Sensex, Nifty trade volatile; Indiabulls Real Estate, Sun Pharma stocks shine

The market breadth was negative with 715 shares advancing, 1,005 shares declining, and 358 remaining unchanged.

Mar 14, 2019 08:03 IST India Infoline News Service

Stock market report with bull and bear
Equity benchmark indices were trading in a narrow range in the noon trade on Thursday. The Sensex is down 37 points at 37,714, while the Nifty is down 20 points at 11,322. The market breadth was negative with 715 shares advancing, 1,005 shares declining, and 358 remaining unchanged.

The Nifty Realty index gained 2% led by gains in Indiabulls Real Estate, DLF, and Prestige. On the flip side, Mahindra Lifespace, Sobha, and Brigade were trading in the negative zone.

The Nifty Media index is up 0.63% at 2,498.25. Den, Dish TV stocks up 3%, followed by Sun TV, PVR, Zee.

In the pharma space, the index is up nearly 1% in today’s trade. PEL, Sun Pharma, and Aurobindo rose 2% each. However, Dr. Reddy’s, Glenmark, and Biocon were under pressure.

Shares of Lupin are trading marginally higher on the NSE. The company has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at the company’s Mandideep (Unit 1) facility in December 2018 as Official Action Indicated (OAI). Meanwhile, foreign brokerage firm Nomura has maintained Buy call with a target at Rs1,017 per share.

Sun Pharmaceutical Industries stock rose 2%, as it has increased its stake in Russia's PJSC Biosintez to 96.96% with the purchase of additional shares worth over Rs22cr.  

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