Sensex, Nifty Trade Edge Higher As Pharma Stocks Lead Rise
NDTV
Sensex, Nifty Updates: The Nifty pharma index was the top gainer, rising 0.9 per cent a day after India approved Merck's COVID-19 pill and two more vaccines for emergency use.
Shares crept higher on Wednesday, with pharmaceutical stocks leading the rise after the country approved a COVID-19 pill, although year-end portfolio adjustments limited the gains.
At 1:00 pm, the NSE Nifty 50 index was up 0.02 per cent at 17,237.65 and the benchmark S&P BSE Sensex rose 0.05 per cent to 57,926.52.
"We are nearing expiry (of derivatives) and it's December-end... There is volatility and we are also coming close to some amount of stability in the markets," said Anita Gandhi, a whole-time director at Arihant Capital Markets.
Indian markets have fallen more than seven per cent since hitting a peak in October, driven by worries over higher valuations and as the Omicron variant of COVID-19 rapidly spreads across the globe.
