According to media reports, the regulator has communicated through the Indian Drug Manufacturers’ Association (IDMA) to identify companies that can immediately supply ifosfamide injection, a generic chemotherapy drug used in the treatment of several cancers, including testicular, bladder and lung cancer.
US Cancer drug shortage puts India’s pharma stocks in focus- Daily Market Update 23rd June 2026
Overview and Outlook
Global Stock Market Today
- The US Stock markets, barring Dow Jones, settled lower.
- European equity markets, barring CAC, settled on a positive note.
- Majority of asian equity markets are trading in red.
- GIFT Nifty is little changed, Nifty futures is likely to open around 24120 levels.
The benchmark Nifty index opened with a gap on the higher side, traded sideways for the entire session to settle at 24103 spot levels up 90 points from its previous closing values.
The broader markets traded in line with the benchmark as Mid and Small cap indices ended on a positive note, up around half a percent each.
All sectoral indices, barring FMCG and Consumer Durables, settled higher. Among them, Nifty Media, Pharma and Healthcare index were the best performers, gained over 1% each followed by IT, Metal, PSU Banks and Oil & Gas index that rose in range 0.5% to 1%.
Gift Nifty is indicating a muted opening for the domestic markets. The benchmark Nifty index is consolidating in a 400 points range (23800-24200 spot zone) around its breakout levels of 24200 spot. A decisive close above 24200 spot could lead the index towards 24500-24600 spot levels. Conversely, sustained trading below 23800-23750 zone could drag it towards 23600-23500 spot zone in immediate near term.
Derivatives Overview & Outlook
Yesterday, short covering was seen among Nifty, Banknifty and Finnifty futures that shed 1.5%, 4.1% and 2.6% of open interest respectively. On the other hand, Midcapnifty futures remain unchanged on price front but shed around 14% of open interest.
Majority of the sectoral indices settled on a positive note. Amongst them, Chemicals, Infrastructure, Oil & Gas and Technology stocks witness maximum addition of long positions. On the other hand, some short buildup was seen among Textile stocks.
On option front, both put and call writing were seen at multiple strikes. Maximum positions are at 24200 CE closely followed by 24100 CE and 24000 PE followed by 24100 PE. Options data is indicating a sideways session in intraday.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 636 Cr in the cash segment, bought index futures worth Rs 598 Cr and sold stocks futures worth Rs 1426 Cr. DIIs were net buyers in the cash segment to the tune of Rs 1036 Cr.
Nifty Futures, Banknifty Futures and Finnifty Futures Key Levels
Nifty – Resistances 24200-24350; Supports 23900-23800
Banknifty – Resistances 58300-58700; Supports 57600-57200
Finnifty – Resistances 26750-26850; Supports 26400- 26300
F&O stocks in ban today: KAYNES
Disclosure
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