Nifty Mid-Day Update 14:30: Glenmark to begin clinical trial on potential Covid-19 drug, Nifty Open- 9099.75, High- 9161.65 Low- 8996.65 and Last- 9025. Though European indices and DJIA Futures are in green Nifty is feeling pressure due to the selloff happening in NBFC Stocks. VIX at 32.10, INR vs $ is at 75.89.
Nifty is pushed lower today with pressure from NBFC Stocks. Glenmark is all set to begin new clinical trial with combination of favipiavir and umifenovir (anti-viral drugs) on over 150 patients suffering from Covid-19. Tech stocks drag indices down down over 1.8%. TCS dragging the IT Index with over -4% while TechM, NIITTech, Infosys and Infoedge down by -1.5%. Media and Pharma are down by 1% each Metals index is shining with +2.6% followed by Auto 1.1% and FMCG 0.8%.
85 stocks are in Red from Nifty200 while 116 Stocks are in Green. GodrejInd top gainer from Nifty200 at 11.8% followed by JindalSteel 11.6%, AdaniPower 10.3%, RamcoCem 6.5% and JSWSteel 6.2% while Aritel remained as top loser with -5.2% followed by DMart -5%, AUBank -4%, TCS -4% and Escorts -4%. Lupin, Coromandel, AuroPharma and Cipla had hit fresh highs today while AUBank, IBVentures, BajFinance and PFC had hit fresh low.