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Mumbai: Shares of drug makers and healthcare companies were among the top performers on Wednesday boosted by the Reserve Bank of India’s move to provide an on-tap liquidity window of Rs 50,000 crore for the sector to fight Covid-19. Analysts said the announcement could push investors to raise their stakes in defensive sectors like pharma and technology as the second wave of the pandemic has reduced their appetite for cyclicals.
The Nifty Pharma index rallied 4 per cent on Wednesday as against the 1 per cent gains in the Nifty.
Sun Pharma, Lupin, Cadila Healthcare, Aurobindo and Torrent Pharma among others rallied more than 5 per cent.
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Market Watch (ETMarkets.com)
05:40 Min | May 05, 2021, 7:13 PM IST
Tune in as we discuss what RBI s new measures mean for the market, what the Nifty charts are suggesting, and more!
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Welcome to ETMarkets Watch, the show about stocks, market trends and money-making ideas. I am Nikhil Agarwal and here are the top headlines at this hour.
RBI Governor Shaktikanta Das announces loan recast for individuals, MSMEs
Rs 50,000 crore fund unveiled to support healthcare sector
RBI to purchase G-Secs worth Rs 35,000 crore on May 20
India records 46% of world s new Covid cases
Read more about Market Wrap, May 05: Here s all that happened in the markets today on Business Standard. RBI announced a Covid-19 healthcare package of Rs 50,000 crore for vaccine makers, medical equipment suppliers, hospitals and patients in need of funds.
After Sun Pharma, Lupin, Cadila Healthcare and Torrent Pharma, now Ipca Laboratories invests Rs 25 crore in ABCD Technologies freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Benchmarks pare early losses; pharma shares extend gains business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.