Bank Nifty (Future) Resistance 14,620 Resistance 33,000 Support 14,420 Support 31,620 PROGRESSIVE’S EVENING STROLL DATE: 26 April, 2021

PROGRESSIVE’S EVENING STROLL DATE: 26 April, 2021

Market Snapshot: Led by private banking stocks, BankNifty pushed the Index higher in the opening trade but started correcting very quickly. After a range-bound mid-session, Index pared off half of its gains as Pharma stocks-built pressure on the Index. With the gains of 143.65 points, Nifty50 ended the session at 14485. Apart from Banking, Metal was the another outperformer of the day. Mid and Small-cap sectors was stuck in a range but ended the day with gains.

HOW THE DAY TRENDED

INDICES MARKET ACTION Index Close Points % chg A/D BSE NSE Sensex 48386.51 508.06 1.06 Advances 1881 1239 Nifty 14485.00 143.65 1.00 Declines 1053 660 Nifty Midcap 100 23675.10 182.35 0.78 Unchanged 216 394 Nifty Small Cap 100 8343.95 93.40 1.13 A/D TREND BULL BULL

SECTORAL GAINERS / LOSERS NIFTY TOP GAINERS / LOSERS Sectors Close Points % chg Gainers %chg Losers % chg NIFTY METAL 4536.30 89.45 2.01 AXIS BANK 4.33 CIPLA (3.23) NIFTY PSU BANK 2001.95 34.75 1.77 ICICI BANK 3.71 BRITANNIA (3.04) NIFTY BANK 32275.15 552.85 1.74 ULTRATECH 3.43 HCL TECH (2.81) NIFTY PHARMA 13203.85 (115.90) (0.87) JSW STEEL 3.21 BPCL (0.98)

INDICES LEVELS FOR April 27,2021

Nifty (future) Bank Nifty (future) Resistance 14,620 Resistance 33,000 Support 14,420 Support 31,620 PROGRESSIVE’S EVENING STROLL DATE: 26 April, 2021

KEY TAKEAWAYS OF THE DAY

 Natco seeks Emergency approval of Molnupiravir capsules for Covid-19 treatment: Natco has applied to the Central Drugs Standard Control Organization (CDSCO) in India for approval of Phase-III clinical trial of Molnupiravir Capsules for the treatment of Covid-19 positive patients. Natco is hoping that CDSCO would give emergency approval of this drug based on “compassionate use” for patients. “Compassionate use” approval is given for investigational drugs so a patient with an immediately life-threatening condition can gain access to the drug. The company is ready to launch the product this month if approval is given.

 Reliance Industries, BP start production from satellite cluster gas field in KG D6 block: Reliance Industries and BP announced the start of production from the Satellite Cluster gas field in block KG D6 off the east coast of India. RIL and BP have been developing three deep-water gas developments in block KG D6 –R Cluster, Satellite Cluster and MJ – which together are expected to produce around 30 mmscmd (1 billion cubic feet a day) of natural gas by 2023, meeting up to 15% of India’s gas demand. The developments will each utilize the existing hub infrastructure in the KG D6 block.

 Blackstone offers USD1.1bn to buy 26% of India’s Mphasis: Blackstone Group Inc plans to acquire an additional 26% in Indian IT outsourcing services provider Mphasis Ltd. for Rs82.6bn (USD1.1bn). The private equity firm will offer Rs1,677.16 a piece for the Mphasis shares. Blackstone bought a 60.5% stake in Mphasis from Hewlett Packard Enterprise Co. in 2016 at Rs430 ($5.87) per share.

 Olectra Greentech receives LoA for supply of 50 electric buses: Olectra Greentech announced that out of the tenders Olectra Greentech (Olectra/ Company) and Evey Trans (EVEY) were declared as least quoted (L-1) bidders for 353 Buses, for 50 Electric Buses Olectra has received Letter of Award from one of the State Transport Authorities under FAME-II scheme of Government of India. This order for supply of 50 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 10 years (Contract Period). These Buses shall be delivered over a period of 12 months. The maintenance of these buses shall also be undertaken by the Olectra during the Contract Period.

 Glenmark Pharma to launch its nasal spray Ryaltris in EU: Glenmark Pharma said it is concluding the final, national phase of its marketing approval application process to launch its nasal spray Ryaltris in 17 countries in the European Union (EU). Glenmark said Ryaltris is now approved in Europe for the first line treatment of allergic rhinitis in patients over 12 years of age. Glenmark said it will commercialise Ryaltris on its own in select markets. Glenmark has also partnered with Hikma Pharmaceuticals and Bausch Health for the commercialisation of Ryaltris in the US and Canada, respectively.

 Biocon Biologics, Viatris receive EC nod for biosimilar Bevacizumab: Biocon Biologics Ltd., a subsidiary of Biocon Ltd has announced that Abevmy 100 & 400 mg, a biosimilar of Bevacizumab co-developed with Viatris Inc., has received marketing authorisation approval from the European Commission. The addition of biosimilar Bevacizumab will strengthen the company''s portfolio of biosimilars for cancer in the EU, which include biosimilar Trastuzumab and biosimilar Pegfilgrastim

Source: Media Reports