Pharma Shares Surge Amid Market Decline and Fuel Price Hikes
Barometers pare gains; pharma shares rally
Business Standard
Image: Business Standard
Indian stock markets experienced minor losses with the S&P BSE Sensex dropping 0.06% and the Nifty 50 index down 0.04%. Despite this, the Nifty Pharma index rose 0.38%, marking a 3.33% increase over four sessions. Fuel prices increased nationwide, with petrol prices rising by up to ₹3 per liter due to global crude fluctuations.
- 01The S&P BSE Sensex fell by 45.01 points to 75,353.71.
- 02Petrol prices in Delhi increased to ₹97.77 per liter, while in Kolkata, it rose to ₹108.74.
- 03Biocon's stock rose by 2.63%, contributing to the Nifty Pharma index's performance.
- 04The yield on India's 10-year benchmark federal paper increased to 7.083%.
- 05Chalet Hotels' net profit surged 31.64% to ₹163.02 crore in Q4 FY26.
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In mid-afternoon trading on the Indian stock market, the S&P BSE Sensex declined by 45.01 points or 0.06%, settling at 75,353.71, while the Nifty 50 index slipped 10 points or 0.04% to 23,678.70. The broader market showed underperformance, with the BSE 150 MidCap Index down 0.30% and the BSE 250 SmallCap Index down 0.20%. Amidst these declines, the Nifty Pharma index saw a positive trend, rising 0.38% to 24,644.10, accumulating a 3.33% increase over four consecutive trading sessions. Key contributors included Biocon, Zydus Lifesciences, and Mankind Pharma, with respective rises of 2.63%, 2.13%, and 1.8%. Concurrently, fuel prices were increased nationwide, with petrol prices in Delhi rising to ₹97.77 per liter and diesel prices seeing similar hikes. This fuel price adjustment reflects ongoing fluctuations in global crude oil prices. Additionally, Chalet Hotels reported a significant profit increase, showcasing a 31.64% rise in net profit for Q4 FY26, which positively impacted its stock performance.
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The rise in fuel prices will likely increase transportation costs, affecting consumers and businesses alike.
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