Equity Alert: Sun Pharma up 2.5% as defensive bet in weak market
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K.Karthik Raja
Jun 27, 2008, 1:29:16 AM6/27/08
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Equity Alert: Sun Pharma up 2.5% as defensive bet in weak market
Friday, Jun 27
Equity Alert: Sun Pharma up 2.5% as defensive bet in weak market
MUMBAI--10:50AM--The Sun Pharma stock was up 2.5% at 1,378 rupees,
top gainer in Nifty, as a defensive bet amid weakness in the broad
market
Key indices were down over 3%, while the BSE Healthcare index
declined 1%.
The gains in the stock are not sustainable because the volume does
not support it adequately, said a technical analyst with a domestic
brokerage.
On NSE, Sun Pharma registered a volume of 75,000 shares so far
today.
Sun Pharma July futures were trading at a marginal premium to the
spot price.
Friday, Jun 27
Equity Alert: Sun Pharma up 2.5% as defensive bet in weak market
MUMBAI--10:50AM--The Sun Pharma stock was up 2.5% at 1,378 rupees,
top gainer in Nifty, as a defensive bet amid weakness in the broad
market
Key indices were down over 3%, while the BSE Healthcare index
declined 1%.
The gains in the stock are not sustainable because the volume does
not support it adequately, said a technical analyst with a domestic
brokerage.
On NSE, Sun Pharma registered a volume of 75,000 shares so far
today.
Sun Pharma July futures were trading at a marginal premium to the
spot price.
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