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Informist, Monday, Jun. 8, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: Pharma, healthcare stocks gain amid bearish market sentiment

 

MUMBAI--1124 IST--Shares of healthcare and pharmaceutical companies rose amid bearish market sentiment Monday. Pharmaceutical companies are expected to mitigate the rise in raw materials costs due to the West Asia war by taking price hikes. Probable defensive buying is also aiding the sector, according to analysts tracking the sector. 

 

Shares of Max Healthcare Institute and Apollo Hospital Enterprises rose nearly 3% and 2%, respectively, to be the top gainers among the Nifty 50 constituents. Dr. Reddy's Laboratories gained 1%. Shares of Fortis Healthcare, Max Healthcare Institute, Mankind Pharma, Alkem Laboratories, and Torrent Pharmaceuticals rose 1-3% in the Nifty 200. Nifty Healthcare was the best performing sectoral index, up 0.7%, supported by the gains in the stock of Fortis Healthcare. Meanwhile, Nifty Pharma rose 0.3% and was aided by Mankind Pharma.

 

Pharma companies are likely to pass on the higher raw materials costs to customers amid a stable demand environment, according to Vishal Manchanda, senior vice-president, institutional research at Systematix Institutional Equities. Manchanda also highlighted the possibility of defence buying in the sector. Worldwide stockpiling of medicines amid a war situation is also aiding the sector, he added. 

 

The government is planning a new support scheme for the bulk drug industry without any price hikes on medicines despite higher input costs due to the West Asia war, said Manoj Joshi, secretary, the Department of Pharmaceuticals, in an interview with Business Standard. Joshi said that the scheme would go beyond the production-linked incentive scheme and will focus more on research and development, long-term capacity addition, and stronger academia-industry partnerships, the report said.  (Adhithya Aji)

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Equity Alert: Indices off lows; Nifty 50 stays lower but holds on to 23200

 

MUMBAI--1046 IST--Headline indices came slightly off their lows but remained in the red as crude oil prices stayed higher amid renewed tensions between Iran and Israel. At 1033 IST, Brent crude oil futures were 4.3% higher at around $97.10 per barrel. Less than 15 constituents in the Nifty 50 index were in the green, with healthcare and pharmaceutical companies being the main gainers. Stocks of financial institutions and metal companies were among the main laggards.

 

At 1035 IST, the Nifty 50 and the BSE Sensex were down 0.7?ch at 23208.85 and 73732.14, respectively. All broader market indices were in the red. While the Nifty midcap indices fell 0.2–0.5%, the Nifty small-cap indices were down 0.6–0.7%. Most sectoral indices were in the red as well, with the Nifty Realty, Nifty Metal, and Nifty Auto indices being the worst struck, down 1.0-1.3%. Among the few gainers, the Nifty Healthcare and Nifty Pharma indices rose 0.7% and 0.4%, respectively.

 

Healthcare stocks, Max Healthcare Institute and Apollo Hospitals Enterprise, rose 2% and 1%, respectively, and were among the top gainers in the Nifty 50. Pharmaceutical majors Sun Pharmaceutical Industries and Dr. Reddy's Laboratories rose 0.5% and 1.0%, respectively. On Sunday, Manoj Joshi, pharmaceutical secretary, said the government was working on a new scheme to support the bulk drugs industry with a focus on building long-term capacity and enabling research and development, in an interview with Business Standard.

 

Wipro fell 5.4% and was the worst performer across Nifty 50, Nifty 200, and Nifty 500 indices. Stocks of financial services companies Jio Financial Services, Bajaj Finance, and Shriram Finance, down 1.2–2.0%, were also among the main laggards in the Nifty 50. Heavyweight stocks ICICI Bank and HDFC Bank shed 1?ch, further dragging down the 50-stock index. Metal companies, Hindalco Industries and JSW Steel were down 1.8% and 1.2%, respectively. Peer Tata Steel shed 1?ter the company said its plans for its electric steel-making furnace in the UK may be delayed for up to eight months due to issues with electrical connectivity. The project was initially expected to be completed by the end of 2027.

 

The mix of gainers and laggards in the Nifty 200 broadly mirrored those in the Nifty 50. Metal companies Steel Authority of India and National Aluminium Co. were near the bottom of the index, down around 3?ch. Financial services companies were also among the notable laggards. Muthoot Finance, L&T Finance, and Aditya Birla Capital fell 2–3%. Healthcare and pharmaceutical companies Alkem Laboratories, Torrent Pharmaceuticals, and Fortis Healthcare rose 1.6–3.1%. Physicswallah rose over 6% and was the top gainer in the Nifty 500 index. (Shruti Nair)

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Equity Alert: Mkts open lower as Iran-Israel conflict intensifies, crude oil gains

 

MUMBAI--0940 IST--Benchmark indices opened sharply lower Monday amid the escalating West Asia war where Israel and Iran launched fresh strikes on each other's territories. The July Futures of Brent Crude oil rose to around $96 per barrel. Asian markets opened lower and sell-off in technology shares intensified. Indian indices' fear gauge India VIX was over 15% higher. At 0937 IST, the Nifty 50 was at 23143.75, down 222.95 or 1%, and the BSE Sensex was at 73544.38, down 698.96 or 0.9%. 

 

Pharmaceutical stocks Sun Pharmaceutical Industries and Dr. Reddy's Laboratories were the sole gainers in the Nifty 50 after open. A few minutes later, Nestle India, Power Grid Corp. of India, State Bank of India, and Axis Bank gained, and were up 0.4-0.6%. On other hand, Wipro was the worst hit stock, down over 5%. Hindalco Industries, InterGlobe Aviation, Tata Consultancy Services, and Eternal were down around 2?ch. Financial services companies Shriram Finance, Jio Financial Services, Bajaj Finance, HDFC Life Insurance Co., and Bajaj Finserv fell 1-2%. 

 

All the broader market indices were in the red, the Nifty Smallcap indices fell 0.5-0.7%, and the Nifty Midcap indices were down 0.5-0.8%. Nifty PSU Bank rose 0.6% and was the best performer among the sectoral indices, while Nifty IT was the underperformer and fell 1.6%. 

 

Public sector banks--Union Bank of India, Bank of India, and Indian Bank--gained 1?ch in the Nifty 200. In contrast, Wipro was the worst hit in both the Nifty 200 and Nifty 500 indices. GE Vernova T&D India and Steel Authority of India declined over 4% and 3%, respectively. In the Nifty 500, Pfizer was the top gainer, up over 3%, and Wipro was the worst hit as well.  (Adhithya Aji)

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Equity Alert: May open lower on new West Asia war worries, higher oil prices

 

MUMBAI--0830 IST--Domestic benchmark indices may open lower Monday, on fresh escalations in the West Asia war and higher crude oil prices. They are also expected to track the early fall in all Asian markets. A renewed fight emerged between Iran and Israel, and the still clouded US-Iran peace deal talks may dampen market sentiment ahead. Analysts say market sentiment may get a boost only if there is some positive news regarding a peace deal between the US and Iran to end the war and crude oil prices fall.

 

According to the latest development, Iran Sunday reportedly fired missiles at Israel. The reports of missile fired from Iran came after the Iranian Parliamentary Speaker, M.B. Ghalibaf, posted on his X account that the US "naval blockade and violation of agreements regarding Lebanon" amounted to violations of the ceasefire, CNBC reported.

 

US President Donald Trump has been briefed on renewed fighting after Iran fired a missile at Israel for the first time since the start of the ceasefire, CNBC reported, as the White House confirmed to MS NOW. The report also said Trump Sunday told Fox News that the missile attacks were "certainly not going to help negotiations." Trump was going to call Israeli Prime Minister Benjamin Netanyahu to urge him not to strike back at Iran, the CNBC report said, quoting Axios. At 0827 IST, Brent crude oil August futures were over 3% higher at $96.12 a barrel. In a week, crude oil prices have risen nearly 6%.

 

According to media reports, Prime Minister Narendra Modi Saturday chaired a meeting with the members of the Economic Advisory Council to deliberate on strategies to further bolster India's economic growth amid global turmoil. The discussion focused on policy measures to support India's economic growth while making it resilient against external shocks, a media reported, quoting sources.

 

He also said in a social media post that the figures of GDP growth for the financial year 2025-26 (Apr-Mar), particularly the figures for the March quarter, show the "inherent strength" of India's economy and the success of reforms. He said the country's growth momentum is strong.

 

At 0826 IST, the June futures contract of GIFT Nifty was up 0.4% at 23188, lower than nearly 180 points from the Nifty 50's Friday close of 23366.70. "A fresh geopolitical escalation in the Middle East (West Asia) will take a toll on global equity markets," said Vipin Kumar, technical and derivatives analyst at Globe Capital Market. "Technically, the Nifty index is hovering in a consolidation phase (23000–24000 range), facing intraday resistance around the 23500–23550 spot levels and support near the 23150–23000 spot levels."

 

In the markets in Asia, South Korea's Kospi was the major loser, down almost 6%. All the three major US indices had settled significantly lower Friday, with the Nasdaq Composite down over 4%. The index was down for the third straight session.  (Arundathi A R)

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Equity Alert: Asian indices bleed following tech-led rout on Wall Street

 

MUMBAI--0825 IST--All the major indices in Asia were lower Monday morning, following the sharp sell-off in technology stocks on Wall Street Friday. South Korea's key index, KOSPI, fell the most in the region, and was followed by Japan's Nikkei 225. Further, Brent crude oil futures rising almost 4% from Friday's lows back to around $96 per barrel also likely worsened sentiment. Crude oil prices inched up after Israel and Iran exchanged fire, escalating tensions. 

 

Among the constituents of KOSPI, heavyweights Samsung Electronics Co. and SK Hynix were lower by 6% and 3%, respectively. Owing to heightened volatility, trading in the index was also briefly halted, the DowJones Newswires reported. South Korea's broader market, KOSDAQ, was also down nearly 7%. Japan's benchmark Nikkei 225 fell over 4%, with shares of key stocks Advantest Corp. down 5%, SoftBank Group Corp. down almost 8%, and Tokyo Electron down over 6%. Among others, semiconductor player Renesas Electronics Corp. fell over 10% and electronic component manufacturer Murata Manufacturing Co. was down nearly 9%. Japan's TOPIX, meanwhile, fell amost 3%. The Australian stock market was closed on Monday for the King's Birthday. 

 

"Blockbuster offerings have marked the peak of excess in past market cycles, so there seems to be an awkward silence around what this could signal for sentiment," Callie Cox, the chief market strategist at Ritholtz Wealth Management, told CNBC. 

 

In macroeconomic news, the second estimate of Japan's GDP showed the economy expanded 1.8% year on year for the quarter ended March. This figure has been revised lower from the preliminary estimate of a 1.8% rise on an annualised basis. On a quarterly basis, the Asian country's GDP rose 0.5% for the first three months of 2026. A Reuters poll had projected the GDP to grow 1.3% on year.

 

"My view is that the Jan-Mar GDP data show Japan's economy was still resilient before tensions in the Middle East escalated. Given incoming data for the Apr-Jun quarter, as well as government actions and economic policy, the economy is likely to remain firm. That suggests the BOJ may have to tilt more toward rate hikes," Kento Minami, senior economist at Daiwa Securities, told Reuters.

 

The following were the levels of major Asian indices at 0819 IST:

 

Index	Level	Change in %
CSI 300 Index	4764.3295	(-)1.09
Hang Seng Index	24747.68	(-)0.86
Nikkei 225 Day	64022.72	(-)3.85
TOPIX FIRST SECTION	3844.11	(-)2.66
KOSPI	7755.14	(-)4.97
FTSE Singapore Strait Times	4979.37	(-)1.40

 

(Ruchira Kagita)

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Equity Alert: US indices end sharply lower Fri, technology stocks tumble

 

MUMBAI--0745 IST--US indices ended sharply lower Friday, led by declines in technology stocks. The NASDAQ Composite slipped 4.2% to post its worst day since April. The S&P 500 fell 2.6%, while the Dow Jones Industrial Average was slightly better off, falling by just 1.4%. Further, the May jobs data made the case for a rate hike by the US Federal Reserve.

 

On Friday, shares of Advanced Micro Devices and Oracle Corp. fell by 10?ch, while those of Micron Technology declined by 14%, Intel Corp. and Qualcomm by 11?ch, Broadcom by 8%, and NVIDIA Corp. and Meta Platforms by 6?ch. The NASDAQ ended lower for the week after two straight weeks of gains, down about 5%. The S&P 500 snapped its nine-week run of advances, lower by almost 3%. The Dow Jones also closed in the red after advancing for two weeks in a row, down 0.3%. 

 

"The market reaction today (Friday) was more driven by positioning rather than fundamentals," Ohsung Kwon, chief equity strategist at Wells Fargo, told Reuters. "The semiconductor sector was way overbought. That's why we're seeing the selloff. I don't think it's the end of the semi bull market," Kwon said. 

 

The US added 172,000 jobs in May, topping expectations. The country's unemployment rate was unchanged at 4.3%. Economists had expected the US to add around 80,000 jobs in the previous month.  The recent data indicate some resilience in the labour market. The question of when the US Federal Reserve will raise interest rates has become more prominent in light of this data. "This is a labor market that is stronger than it was last year and is looking pretty darn solid, despite high energy prices and higher inflation generally," Gus Faucher, chief economist at PNC, told CNBC.

 

The following were the closing levels of major US indices on Friday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50866.78	(-)1.35
NASDAQ Composite	25709.43	(-)4.18
S&P 500	7383.74	(-)2.64

 

(Ruchira Kagita)

 

US$1 = INR 95.66

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Deepshikha Bhardwaj

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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