Indian shares at record highs, boosted by pharma stocks, Adani Ports
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 27 2024
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Source: reuters
- India's Stock Market Performance: India's bluechip indexes reached record highs for the third consecutive session, driven by strong quarterly reports from companies like Torrent Pharma and Divi's Labs.
- Nifty 50 and Sensex: The NSE Nifty 50 rose by 0.2% to 23,010.9 points, while the S&P BSE Sensex increased by 0.3% to 75,607.83 points.
- Pharma Sector Growth: Pharma stocks surged by 0.4%, with companies like Divi's Lab, Torrent Pharma, and Glenmark Pharma seeing gains between 3% and 5% after reporting fourth-quarter results.
- Adani Ports Inclusion: Adani Ports, India's largest port operator, saw a 1.6% increase after being announced to be included in the 30-stock Sensex index starting June 24.
- Sector Performance: Ten out of thirteen major sectors experienced gains during this period.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
