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Pharma Stocks Rebound Post-Fed Rate Cut as Nifty Pharma Gains 0.62%
Pharma Stocks Rebound Post-Fed Rate Cut as Nifty Pharma Gains 0.62%
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BTCCSquare news:
Pharmaceutical stocks staged a sharp recovery during Thursday's morning session following the Federal Reserve's 25 basis point rate cut. The Nifty Pharma index climbed 138.70 points to 22,380.05, marking a 0.62% gain from its previous close. Broad-based buying dominated the sector with 14 advancing stocks against 6 declines, reversing Wednesday's profit-booking trend.
Natco Pharma led the rally with a 3.92% surge to ₹890.85, followed by Biocon's 2.27% gain. The Fed's dovish pivot is expected to channel foreign capital into emerging markets, potentially strengthening the rupee and benefiting equity indices. Trading volumes remained robust, with Biocon seeing 49.91 lakh shares traded worth ₹180.25 crores.
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