Nifty Holds Record Gains As Consumer Goods Offset Pharma Losses

Indian shares closed near record highs, led by consumer goods stocks like Hindustan Unilever, but gains were capped as below-estimate earnings by Sun Pharmaceuticals weighed on healthcare sector.

The S&P BSE Sensex rose 0.26 percent to 31,109 while the NSE Nifty advanced 0.10 percent to 9,604. Both the indexes closed at record highs on Friday.

Among the sectoral indices, S&P BSE S&P BSE Realty slumped 4.4 percent while the S&P BSE Healthcare declined 2.90 percent.

The market breadth was skewed in the favour of losers, with about 6 stocks declining to every 3 stocks that advanced.

Correction In The Offing?

“Markets are absolutely range-bound as the rally extended for longer than expected. We could see a correction coming-in anytime now,” said PK Agarwal, an independent market expert.

• Shares down as much as 4.5% to Rs 188, the lowest since April 25, 2016
• Q4 loss Rs 337 crore vs loss Rs 200 crore last year
• Q4 revenue Rs 390 crore vs Rs 630 crore last year

• Shares up as much as 5% to a record high of Rs 674
• Q4 net income Rs 59.4 crore vs estimate Rs 45.1 crore
• Q4 revenue Rs 1,060 crore vs estimate Rs 993 crore last year
• Declares dividend of Rs 1.50 a share

• S&P BSE Sensex index up 0.37% at 31,141, NSE Nifty index up 0.21% at 9,614
• S&P BSE Consumer Durables index (+1.1%), S&P BSE Auto Index (+0.34%)
• Top Sensex gainers: HDFC (+3.1%), HUL (2.7%), Cipla (2.6%)
• Top Sensex Losers: Sun Pharma (-10.3%), Adani Ports (-5.1%), Infosys (-1.6%)
• S&P BSE Healthcare index now down 1.7%, recouping from 3.8% slump earlier in the session

• Q4 net income Rs 38.4 crore vs estimate Rs 42.9 crore
• Q4 revenue Rs 1,280 crore vs estimate Rs 1,410 crore last year
• Shares reversed earlier gains to trade down 0.1% at Rs 359