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Share market update: Nifty Pharma top sectoral gainer, jumps over 3%

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NEW DELHI: The pharma index finished Tuesday's session as the top gainer among the sectoral indices on NSE. The index settled at 9,481, up by 3.21 per cent with nine stocks in the green and only one in the red. Sun Pharmaceutical Industries (up 7.39 per cent) led the pack of gainers. The drug major on Tuesday beat Street estimates to report a consolidated profit of Rs 982.51 crore for the June quarter against Rs 424.92 crore loss reported for the corresponding quarter of last financial year.

Lupin (up 3.30 per cent), Biocon (up 3.16 per cent), Divi's Laboratories (up 3.12 per cent) and Cipla (up 2.81 per cent) also clocked decent gains. Piramal Enterprises (up 2.17 per cent), Aurobindo Pharma (up 2.10 per cent), Dr.

Reddy's Laboratories (up 1.67 per cent) and Glenmark Pharmaceuticals (up 0.19 per cent) too closed with gains. Cadila Healthcare (down 4.01 per cent) remained the only stock in the pharma index that suffered losses despite reporting better numbers for the June quarter. Cadila on Monday reported over three-fold jump in consolidated net profit to Rs 460.5 crore for the quarter ended June 30, 2018 on account of robust sales, PTI reported.

Snapping the losses of two consecutive sessions, equity benchmarks Sensex and Nifty closed higher on Tuesday owing to gains led by bank, energy, metal and FMCG stocks. Buying was observed in most sectors today as positive inflation numbers influenced the sentiment.

The retail inflation fell to a 9-month low of 4.17 per cent in July on declining vegetable prices.

After hitting a four-year high in June, the WPI inflation has ebbed a little to 5.09 per cent in the month of July, official data released today showed.

But, the unabating fall of Indian rupee remains an overhang.

The local currency, in line with the currencies of other emerging markets, has been in a hole for some time now as it went past the 70-mark for the first time ever on Tuesday.

Sensex climbed 207 points, or 0.55 per cent, closing the day at 37,852, with 18 stocks advancing and 13 declining. The Nifty50 settled 79 points, or 0.70 per cent, up at 11,435, with 30 stocks in the green and 20 in the red.




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