Nifty Gives Up Gains but Pharma and Midcaps Shine; US Futures in Red

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Nifty Gives Up Gains but Pharma and Midcaps Shine; US Futures in Red

By Aditya Raghunath -- Nifty 50  and the BSE Sensex 30 gave up gains to end flat today. Nifty closed 0.1% lower and the Sensex closed 0.13% today.

Sun Pharmaceutical Industries Ltd. (NS: SUN ) was the breakout stock today, closing up 10.04% after it reported stellar numbers for Q1 FY22. Net profit came in at Rs 1,444.17 crore compared to a loss of Rs 1,655.6 in the corresponding quarter last fiscal. Cipla Ltd. (NS: CIPL ) also closed up 4.24%. In IT, Tech Mahindra Ltd (NS: TEML ) gained 7.08%.

Nifty Midcap 50 gained 1.38% today. SRF Ltd (NS: SRFL ) closed up 9.25% while Ashok Leyland Ltd. (NS: ASOK ), Sun TV Network Ltd (NS: SUTV ) and Mahanagar Gas Ltd (NS: MGAS ) gained over 5% each. Bank of India (NS: BOI ) closed up 4.75%.

Nifty reached a high of 15,862 today. However, every time it looks to break the 15,900 barrier, selling pressure sets in. Bajaj Finance Ltd (NS: BJFN ), Bajaj Finserv Ltd (NS: BJFS ), State Bank Of India (NS: SBI ) and Hindalco Industries Ltd. (NS: HALC ) lost over 2% each.

Markets gave up their gains at the fag-end of the trading sessions due to weakness in Europe. European stock markets weakened Friday, with investors focused on a fresh reversal of market sentiment in China. FTSE 100 is down 0.91%, Lyxor UCITS CAC 40 (DR) D-EUR (PA: CAC ) is down 0.25% and DAX is down 0.87% as of this report.

US futures are all trading lower. Dow Jones 30 Futures are down 0.28%, S&P 500 Futures are down 0.64% and Nasdaq 100 Futures are down 1.07%.

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