Market Commentary - Mid-Session
04-Apr-2025 10:34
Sensex, Nifty tumble 1%; pharma shares decline; VIX rallies 2.15%
At 10:30 ST, the barometer index, the S&P BSE Sensex, slumped 812.54 points or 1.06% to 75,482.82. The Nifty 50 index declined 281.85 points or 1.21% to 23,968.25.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slumped 3.17% and the S&P BSE Small-Cap index slipped 3.30%.
The market breadth was weak. On the BSE, 836 shares rose and 2,632 shares fell. A total of 193 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.15% to 13.89.
Buzzing Index:
The Nifty Pharma index tumbled 4.80% to 20,394.70. The index added 1.84% in the past two consecutive trading sessions.
Aurobindo Pharma (down 7.67%), Lupin (down 6.86%), Laurus Labs (down 6.85%), Ipca Laboratories (down 6.03%) and Granules India (down 5.86%), Biocon (down 5.73%), Zydus Lifesciences (down 5.49%), Divis Laboratories (down 5.39%), Cipla (down 5.26%) and Sun Pharmaceutical Industries (down 4.28%) tumbled.
Stocks in Spotlight:
UCO Bank shed 0.76%. The company reported a 17.65% rise in total advances to Rs 2.20 lakh crore as on 31 March 2025 as against Rs 1.87 lakh crore recorded as on 31 March 2024.
HDFC Bank added 2.20% after the bank's average deposits stood at Rs 25,27,900 crore as of 31st March 2025, registering the growth of around 15.8% as compared with Rs 21,83,600 crore as of 31st March 2024.
UltraTech Cement shed 0.79%. The company said that its board has approved the purchase of 100% equity of Wonder WallCare at an enterprise value (EV) not exceeding Rs 235 crore.
Alivus Life Sciences tumbled 4.57% after the company said the US Food and Drug Administration (US FDA) conducted an inspection at the company's API manufacturing facility in Ankleshwar, Gujarat, during January 27-31, 2025. Post-inspection, the USFDA issued an Establishment Inspection Report with a Voluntary Action Indicated status for the said manufacturing facility.
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