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The Nifty IT index was trading 0.37 per cent at 41901.45.

A total of 544 shares changed hands on the counter till 11:57AM (IST)

Choice Equity Broking has issued a buy call for Glenmark Pharmaceuticals, setting a target price of Rs 1,779. The brokerage projects robust growth for the pharmaceutical company, fueled by new product launches and expanding margins. They anticipate a 14.8% revenue CAGR and a 44.7% EBITDA CAGR from FY24-27E. Glenmark recently reported a consolidated total income of Rs 3473.

Four Nifty50 stocks showed RSI trending up, signaling strengthening momentum and potential upward movement: Tech Mahindra, Wipro, HDFC Bank, and Mahindra & Mahindra. Traders may consider these as buying opportunities.

As of 30-Sep-2024, promoters held 68.43 per cent stake in the company, while FIIs held 11.96 per cent and domestic institutional investors had 3.62 per cent.

The surging US dollar, driven by a strengthening US economy and potential policy shifts, is impacting Indian markets. Import-heavy sectors like oil and gas and auto are facing margin pressures, while export-dependent sectors remain resilient for now. Market sentiment is cautious as investors await clarity on the future direction of the dollar and its impact on Indian equities.

So, clearly this is a sector which has interesting dynamics going forward. And if your investors are invested here, I think that this is a sector to stay invested in.

Gold futures continued their rally at MCX, supported by geopolitical tensions and safe-haven demand, while silver faced slight decline.

A total of 3,011 shares changed hands on the counter till 10:49AM (IST).

The stock quoted a 52-week high of Rs 6575.00 and a 52-week low of Rs 4518.35.