Markets at Noon: Nifty and Sensex Edge Higher, Aerospace & Defense Soars
By ScanX News Team
Indian markets show positive momentum with Nifty 50 at 24,594.65 (+0.21%) and Sensex at 80,920.77 (+0.23%). Aerospace & Defense leads sectors (+1.67%), while Diamond, Gems and Jewellery lags (-1.75%). Sun Pharma Advanced Research plunges 18.02% on drug discontinuation, and Aditya Birla Fashion drops 10.71% following Flipkart's stake sale.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets are showing positive momentum at midday, with both the Nifty 50 and BSE Sensex trading in the green. The Nifty 50 is currently at 24,594.65, up 52.15 points or 0.21% from its previous close. Similarly, the BSE Sensex is trading at 80,920.77, registering a gain of 183.26 points or 0.23%.
Sectoral Performance
Top Performing Sectors
| Sector | Avg. Per Change |
|---|---|
| Aerospace & Defense | 1.67% |
| Transport Services | 1.44% |
| Printing & Stationery | 1.26% |
| Diversified | 0.88% |
Underperforming Sectors
| Sector | Avg. Per Change |
|---|---|
| Diamond, Gems and Jewellery | -1.75% |
| Cables | -0.87% |
| Trading | -0.83% |
Buzzing Stocks
Sun Pharma Advanced Research: The company's shares plummeted by 18.02% to Rs 160.01 after announcing the discontinuation of its SCD-044 drug for psoriasis and atopic dermatitis. The decision came after Phase 2 trials failed to meet primary endpoints, impacting the company's specialty pipeline.
Aditya Birla Fashion & Retail Ltd: The stock is down 10.71% to Rs 76.79 following news of Flipkart Investments Pvt. selling its 6% stake (7.3 crore shares) through a block deal. The floor price was set at Rs 79.5 per share, a 7.6% discount to the previous closing price. A block trade of approximately 2,003,266 shares also occurred during pre-open trading at Rs 81.7 per share.
Conclusion
As the trading day progresses, the Indian markets are showing resilience with modest gains. The Aerospace & Defense sector is leading the charge, while the Diamond, Gems and Jewellery sector faces the most pressure. Investors are closely watching the developments in Sun Pharma Advanced Research and Aditya Birla Fashion & Retail Ltd, which have seen significant price movements based on recent corporate actions and stake sales.
