7 percent intraday after a media report indicated that Mumbai
Alembic Pharmaceuticals shares rallied nearly 6 percent intraday as the US health regulator approved Febuxostat tablets that lower uric acid levels.
Febuxostat tablets are xanthine oxidase (XO) inhibitor indicated for the chronic management of hyperuricemia in adult patients with gout who have an inadequate response to a maximally titrated dose of allopurinol, who are intolerant to allopurinol, or for whom treatment with allopurinol is not advisable. Benchmark indices traded marginally lower amid volatility as traders turned cautious ahead of Union Budget later this week.
The BSE Sensex fell 44.24 points to 39,642.26 and the Nifty50 slipped 13.90 points to 11,851.70.
It is a flat start for the Indian indices on July 2 with Nifty above 11,850.
At 09:16 hrs IST, the Sensex is up 3.70 points or 0.01% at 39690.20, and the Nifty up 1.90 points or 0.02% at 11867.50. About 352 shares have advanced, 220 shares declined, and 34 shares are unchanged.
HPCL, BPCL, IndusInd Bank, ONGC, Infosys, Britannia, Bajaj Auto, Maruti Suzuki, and Asian Paints are among the major gainers on the indices, while losers are Yes Bank, Eicher Motors, Tata Motors, JSW Steel, Kotak Mahindra Bank, Cox & Kings, and Dr. Reddy's Lab.
Among sectors, buying seen in the energy, FMCG space, while auto, IT, metal and pharma are under pressure.
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