NewsMarketsMarkets Dip at Midday: Nifty and Sensex in Red, Alembic Pharma Surges on FDA ApprovalMarkets Dip at Midday: Nifty and Sensex in Red, Alembic Pharma Surges on FDA Approval
By ScanX News Team
Indian markets show a slight downward trend at midday, with Nifty 50 at 25,568.60 (-0.27%) and BSE Sensex at 83,808.27 (-0.30%). Cables sector leads gains (+9.05%), while Engineering Services sees the biggest loss (-0.82%). Alembic Pharmaceuticals surges 13.47% on FDA approval news, while Karnataka Bank drops 5.56% amid leadership changes. The market displays mixed sectoral performance, with pharmaceuticals boosted and banking facing uncertainty.
*this image is generated using AI for illustrative purposes only.
Market Overview
As of midday on June 30, 2025, Indian markets are showing a slight downward trend. The Nifty 50 is currently trading at 25,568.60, down 69.20 points or 0.27% from its previous close. Similarly, the BSE Sensex stands at 83,808.27, reflecting a decline of 250.63 points or 0.30%.
Sectoral Performance
Top Performing Sectors
| Sector | Avg. Per Change |
|---|---|
| Cables | +9.05% |
| Printing & Stationery | +5.25% |
| Packaging | +3.21% |
| Trading | +1.94% |
| Castings, Forgings & Fasteners | +1.87% |
Top Losing Sectors
| Sector | Avg. Per Change |
|---|---|
| Engineering Services | -0.82% |
| Education | -0.51% |
| Energy | -0.13% |
| Construction | -0.07% |
Buzzing Stocks
Alembic Pharmaceuticals Ltd
- Current Price: ₹1,099.40
- Percentage Change: +13.47%
Alembic Pharmaceuticals has received final FDA approval for Doxorubicin Hydrochloride Liposome injection, used in treating ovarian cancer, AIDS-related Kaposi Sarcoma, and multiple myeloma. The approved ANDA is for 20mg/10ml and 50mg/25ml strengths, with an estimated market size of $29 million for the 12 months ending March 2025. This news has propelled the company's stock to a six-month high.
Karnataka Bank Ltd
- Current Price: ₹196.10
- Percentage Change: -5.56%
Karnataka Bank has announced significant leadership changes. Managing Director & CEO Srikrishnan Hari Hara Sarma and Executive Director Sekhar Rao have both resigned from their positions. Their resignations will be effective from July 15 and July 31, respectively. The bank has formed a search committee to find replacements and has appointed a new COO starting July 2.
Conclusion
As the trading day progresses, the market shows a slight bearish trend with both Nifty and Sensex in the red. While most sectors are experiencing mixed performance, the pharmaceutical sector has seen a notable boost with Alembic Pharma's FDA approval news. On the other hand, the banking sector faces uncertainty with Karnataka Bank's leadership reshuffle.
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