Indices trade with decent gains; pharma shares rally for 3rd day

The headline equity benchmarks traded with modest gains in mid-afternoon trade, extending their upward momentum on the back of sustained buying interest. Investor focus remained on domestic macroeconomic indicators, global tariff-related cues, and corporate earnings announcements. The Nifty traded above the 25,150 mark. Pharma shares extending gains for third day in a row.

At 14:26 IST, the barometer index, the S&P BSE Sensex advanced 301.97 points or 0.37% to 82,556.01. The Nifty 50 index added 100.45 points or 0.40% to 25,184.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.60% and the S&P BSE Small-Cap index added 0.99%.

The market breadth was strong. On the BSE, 2,570 shares rose and 1,392 shares fell. A total of 177 shares were unchanged.

Economy:

India's retail inflation, measured by the Consumer Price Index (CPI), cooled to a multi-year low of 2.10% in June 2025, thanks to a sharp dip in food prices. The data, released by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday, 14 July 2025, marks the lowest year-on-year inflation rate since January 2019. For comparison, CPI inflation stood at 2.82% in May 2025 and 5.08% in June 2024.

Buzzing Index:

The Nifty Pharma index jumped 0.95% to 22,624.25. The index rallied 2.47% in three consecutive trading sessions.

Natco Pharma (up 3.04%), Biocon (up 2.84%), Sun Pharmaceutical Industries (up 2.77%), Lupin (up 1.60%), Alkem Laboratories (up 1.45%), Torrent Pharmaceuticals (up 1.15%), Granules India (up 1.14%), Aurobindo Pharma (up 0.95%), Ipca Laboratories (up 0.91%) and Gland Pharma (up 0.68%) advanced.

On the other hand, Mankind Pharma (down 1.78%), Divis Laboratories (down 0.32%) and Laurus Labs (down 0.08%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.06% to 6.315 from the previous close of 6.311.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 85.8050 compared with its close of 85.9200 during the previous trading session.

MCX Gold futures for 5 August 2025 settlement rose 0.16% to Rs 97,931.

The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.11% to 97.66.

The United States 10-year bond yield fell 0.25% to 4.418.

In the commodities market, Brent crude for September 2025 settlement declined 46 cents or 0.66% to $68.75 a barrel.

Stocks in Spotlight:

Swaraj Engines surged 9.80% after the company reported a 15.7% increase in net profit to Rs 49.97 crore on a 15.8% increase in net operating revenue to Rs 484.10 crore in Q1 FY26 as compared with Q1 FY25.

Trishakti Industries shed 0.85%. The company announced that it has undertaken a significant deployment of heavy lifting equipment for a renewable energy project from Reliance Industries.

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