12-Sep-2025 11:37
Market trade near day's high; pharma shares jump for 4th day
The key equity indices continued to trade with modest gains in mid-morning trade amid positive global cues. Investors remained optimistic on signs of improving India-U.S. relations and prospects of a U.S. Fed rate cut next week. Market participants awaited for CPI inflation data, scheduled later today. The Nifty traded above the 25,100 level.
Pharma shares witnessed buying demand for the fourth consecutive trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex gained 372 points or 0.46% to 81,922.19. The Nifty 50 index rose 114.85 points or 0.46% to 25,120.35.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index jumped 0.37%.
The market breadth was positive. On the BSE 2,230 shares rose and 1,598 shares fell. A total of 228 shares were unchanged.
IPO Update:
The Initial Public Offer (IPO) of Urban Company received bids for 1,68,15,35,130 shares as against 10,67,73,244 shares on offer, according to stock exchange data at 11:30 IST on Friday (12 September 2025). The issue was subscribed 15.75 times.
The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 98 and 103 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.
The Initial Public Offer (IPO) of Shringar House of Mangalsutra received bids for 24,73,02,450 shares as against 1,70,16,000 shares on offer, according to stock exchange data at 11:25 IST on Friday (12 September 2025). The issue was subscribed 14.53 times.
The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 155 and 165 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.
The Initial Public Offer (IPO) of Dev Accelerator received bids for 33,82,09,885 shares as against 1,31,47,075 shares on offer, according to stock exchange data at 11:25 IST on Wednesday (10 September 2025). The issue was subscribed 25.73 times.
The issue opened for bidding on 10 September 2025 and it will close on 12 September 2025. The price band of the IPO is fixed between Rs 56 and 61 per share. An investor can bid for a minimum of 145 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Pharma index rallied 0.70% to 22,379. The index jumped 2.35% in the four trading sessions.
Lupin (up 2.49%), Gland Pharma (up 1.86%), Natco Pharma (up 1.26%), Cipla (up 0.95%) and Laurus Labs (up 0.9%) were the top gainers. Among the other gainers were Zydus Lifesciences (up 0.89%), Alkem Laboratories (up 0.86%), Ipca Laboratories (up 0.84%), Dr Reddys Laboratories (up 0.78%) and Divis Laboratories (up 0.77%) advanced.
Stocks in Spotlight:
Consolidated Construction Consortium surged 19.09% after the company secured orders worth Rs 180 crore from various clients under its Buildings & Factories (B&F) division for constructing 13.5 lakh sq ft of buildings and factories.
Lodha Developers shed 0.54%. The company has signed a memorandum of understanding (MoU) with the Maharashtra government to develop a Green Integrated Data Centre Park in Palava, Mumbai Metropolitan Region (MMR). Global market:
Asian market traded higher on Friday, mirroring the positive close in U.S. equities recorded the previous day.
Equities in several parts of the world have been rallying as easing inflation pressures and expectations for U.S. rate cuts boost investor sentiment.
Overnight in the U.S., all three major indexes ended higher, as investors bet that the upcoming consumer inflation data would not prevent the Federal Reserve from cutting interest rates next week.
The Dow Jones Industrial Average finished up 617.08 points, or 1.36%, at 46,108.00, while the S&P 500 ended up 0.85% at 6,587.47. The Nasdaq Composite advanced 0.72% to 22,043.07. All three major averages scored new intraday all-time highs in the trading day and closed at record levels.
The U.S. CPI rose 0.4% last month, the biggest gain since January, after increasing 0.2% in July, the Labor Department's Bureau of Labor Statistics said. The CPI was driven by a 0.4% jump in the cost of shelter. Food prices increased 0.5%, with prices at the supermarket soaring 0.6%.
The larger-than-expected rise in the Consumer Price Index reported by the Labor Department on Thursday resulted in the biggest year-on-year increase in inflation since January. Higher inflation and softening labor market conditions fanned fears of stagflation, and pose a dilemma for the U.S. central bank, beyond Wednesday's anticipated rate decision.
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