The Nifty started trading above 70 points on the day. However, the Nifty did not return to 11,584 points at the start of trading. The market has seen an increase in the intensity of volatility. Meanwhile, Nifty fell to 11,446 points during the trading and closed above 11,500. The stock closed at 11,505.

The Sensex started trading above the psychological level of 39,000 points but dropped during the trading session. It fell to 38,653 points at one point during trading. It closed at 38,845 points.

Most of the 50 stocks in the Nifty traded higher on the day. Twenty-eight stocks gained while 22 lost. Pharma stocks were the main contributor to the market on the day. Leading pharma stocks Dr. Reddy’s gained 9.92 per cent and Cipla 7.11 per cent. The Nifty Pharma index gained 5 per cent.

Dr. Reddy’s is up 20 per cent this week. Dr. Reddy’s ‘Laboratories’ signing of agreement with Russia to test and distribute the vaccine for COVID caused the stock price to rise sharply. Pharma stocks such as Dr. Reddy’s, Cipla, Lupin, Divis Lab, Cadillac Healthcare and Biocon were at 52-week highs on the day.

Dr. Reddy’s Cipla, Adani Ports, Bharti Airtel and Mahindra & Mahindra were the top five gainers in the Nifty. Adani Ports and Bharti Airtel gained over 3 per cent each.

The biggest losers were HDFC Bank, Sree Cements, Bajaj Finserv, Kotak Mahindra Bank and Maruti Suzuki. HDFC Bank fell 2.28 per cent.

Bank stocks continued to decline. Similarly, the Nifty Banking Index lost 1.30 per cent. Bandan Bank, IDFC First Bank, HDFC Bank and Punjab National Bank lost over two per cent.

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The Sensex closed above 39,000 points and the Nifty closed above 11,500. Volatility was as visible as in the previous days but at no point in trading did it go down from September 14’s closing level.

The Sensex ended at 39,044 points. The Sensex has surpassed the psychological level of 39,000. The day’s low is 38,753 points. Similarly, the Nifty closed at 11,521 points. It had fallen to 11,442 points at one point but closed above 11,500.

Most of the index-based stocks were profitable on the day. Thirty-one stocks in the Nifty gained while 19 lost. Pharma and bank stocks were the main gainers of the day. IndusInd Bank, UPL, Cipla, Bharti Airtel and Axis Bank are the top five gainers in the Nifty. IndusInd Bank rose 4.27 per cent. Shares of UPL, Cipla, Bharti Airtel, Axis Bank, Sun Pharma, Bajaj Finance and ICICI Bank rose more than 2 per cent.

The Nifty Pharma index was up 1.93 per cent. Shares of Lupin, Aurobindo Pharma, Cipla, Biocon, Torrent Pharma and Sun Pharma rose more than 20 per cent. Similarly, Nifty rose by 1.65 per cent. The major gainers were IndusInd Bank, IDFC First Bank, Axis Bank and ICICI Bank. Shares of smallcap continued to rise on the day.

Titan Industries, Maruti Suzuki, ITC, HDFC Life and Asian Paints were the biggest losers in the Nifty.

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The Sensex ended 171 points lower at 38,194 points. Similarly, Nifty declined by 39 points to close at 11,278 points. The Nifty was down by 11,185 points during the day.

The Indian stock market started with a loss following the fall in the US stock market on September 8. At no point in the trade did the indices returned a profit.

Whiles 25 shares in Nifty were up 24 shares were down. There was no change in the share price. Tata Steel, Zee Limited, Cipla, Reliance Industries and Grasim Industries were the top five gainers in the Nifty. Tata Steel rose 3.57 per cent. Pharma and metal stocks were the main gainers of the day. The decline was visible in other areas. Bank stocks fell sharply.

SBI, GAIL, Bajaj Finserv, Axis Bank and IOC were the biggest losers in the Nifty. SBI fell 4.90 per cent. Shares of GAIL, Bajaj Finserv, Axis Bank and IOC lost more than 2 per cent each.

The Nifty Bank Index lost 2.1 per cent. The market is mainly looking at a petition before the Supreme Court seeking a waiver of interest during the moratorium period. Concerns over whether the verdict in the case would be adverse led to a fall in bank shares.

The Nifty Pharma Index gained 1.9 per cent. Shares of Biocon, Cipla, Arbindo Pharma, Lupine and Torrent Pharma gained more than 2 per cent each.

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Thirty-five Nifty stocks rose while 15 stocks declined. Bharti Airtel, JSW Steel, Hindalco, Asian Paints and Bajaj Finance were the top five gainers in the Nifty. Bharti Airtel rose 7.11%. Shares of JSW Steel, Hindalco, Asian Paints, Bajaj Finance, NTPC and Tata Steel gained over 4%.

The Supreme Court ruling on the payment of AGR arrears by telecom companies has created a mixed reaction among stocks in the sector. Shares of Bharti Airtel rose 70 per cent, while Vodafone Idea fell more than 12 per cent.

The September 1 verdict was eagerly awaited one of the Supreme Court. The Supreme Court has allowed telecom companies 10 years to pay AGR arrears. This deadline will start on April 1, 2021. The court also ordered that 10 per cent of the amount be paid by March 31. The telecom companies had asked the Supreme Court to allow them 15 years. The verdict has generated a positive response in the market in general.

Metal stocks performed the best on September 1. The Nifty Metal Index was up 3.15 per cent. Shares of JSW Steel, Jindal Steel, Hindalco, Tata Steel, SAIL and National Aluminum rose over 40 per cent. The Nifty Pharma index was up 2.34 per cent and the Nifty FMCG was up 1.28 per cent. Leading pharma stocks Biocon gained 7.63%.

Infratel, ONGC, Axis Bank, Adani Ports and Infosys were the biggest losers in the Nifty.

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Considering the unmet medical needs to treat COVID-19, Drugs Controller General of India, Dr V G Somani, approved monoclonal antibody injection Itolizumab, an already approved drug of Biocon, for restricted emergency use for the treatment of “cytokine” release syndrome in moderate to severe acute respiratory distress syndrome patients due to COVID-19, they said.

“The approval was given after its clinical trials on COVID-19 patients in India was found satisfactory by the expert committee comprising pulmonologists, pharmacologists and medicine experts from AIIMS, among others, for treatment of cytokine release syndrome,” an official was quoted as saying.

“It is already an approved drug of Biocon for treating psoriasis for last many years,” the official said.

Written informed consent of each patient is required before the use of this drug, he said.

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