Latest Stock Market News

The Nifty Pharma index closed 0.9 per cent up at 23429.6.

Granules India’s shares plummeted 16% to Rs 566 on Thursday after receiving six observations from the USFDA, including issues with equipment cleanliness and quality control procedures. Over 3 crore shares traded as investors reacted to the news.

According to ETMarkets analysis, 40 of these newly listed stocks have provided returns of over 10% compared to their issue prices, with seven stocks more than doubling in value and delivering returns of over 100%

A total of 253,703 shares changed hands on the counter till 02:08PM (IST).

The decision was taken during a meeting held today and the company was informed about the development during market hours.

Following a surprise in U.S. core inflation data, the cryptocurrency market surged as expectations for a major Federal Reserve rate cut diminished. Bitcoin jumped 2.4% to $58,058, with significant gains also seen in major altcoins.

Basic resources gained 2% after prices of base metals rose, buoyed by hopes of an interest rate reduction in the U.S. next week..

Aditya Agarwala of Invest4edu suggests initiating a long position in Bank Nifty, targeting 51,700 to 52,000. He also recommends buying Britannia and Apollo Hospitals. While cautioning against Granules, he sees potential in Kaynes Technology. The market remains range-bound with key support at 24,900 and resistance at 25,100. Agarwala also says that one should monitor a trade above 25,100 on a sustained basis for any kind of short-covering rally.

The stock quoted a 52-week high price of Rs 4544.5 and low of Rs 2557.5.

A total of 2,894 shares changed hands on the counter till 01:43PM (IST).