BSE Healthcare surprised investors with a gain of around 2 percent in such a weak market, led by IOL Chemicals and Pharmaceuticals.
Asian markets experienced mixed sentiment from investors. Although India’s main indices started the day higher, losses in the FMCG, oil and gas and power sectors quickly pushed them lower. In contrast, BSE Healthcare surprised investors with a gain of around 2 percent in such a weak market, led by IOL Chemicals and Pharmaceuticals.
Shares of IOL Chemicals and Pharmaceuticals surged over 15 percent, making it the top gainer on the BSE Small-Cap Actions. Pharmaceutical stocks Panacea Biotec, Solara Active Pharma Sciences and Morepen Laboratories were also heavily bought.
At 12:45 p.m., the BSE Sensex was down 0.53 percent at 61,375. The Nifti 50 index fell by 0.48 percent to 18,296. On the Sensex were Sun Pharmaceutical Industries, Tech Mahindra and HCL Technologies Top Gainerswhile Maruti Suzuki, ICICI Bank and HDFC were Top Losers.
The rupee depreciated against the US dollar in early trade today as the US currency strengthened, while Wall Street indices ended the last session modestly higher. To support the rupee, which is trading at a much lower level, the Reserve Bank of India (RBI) sold $922 million of foreign currency in October.
The following is a list of cheap stocks that were locked in the top round on December 21:
|Stock Name||LTP||Change (%)|
|Balkrishna Paper Mills||46.3||19.95|
|Hybrid financial services||23.59||9.98|
|Contil India Ltd||72.5||5|