Nifty off day’s low, Sensex back above 28000; Lupin drops 3%

Epic Update Lupin

The market recouped some of its losses in afternoon trade with the Sensex reclaiming 28000 level, driven by select banks and IT stocks.
The 30-share BSE Sensex was down 114.35 points at 28,068.22 and the 50-share NSE Nifty declined 37.55 points to 8,673.80 while the BSE Midcap fell 0.5 percent.
The market breadth remained weak as about 1574 shares declined against 1079 advancing shares on the Bombay Stock Exchange.
Lupin fell 3 percent after the company missed analysts’ expectations on operational front, though profit and revenue grew by 55 percent and 40.7 percent, respectively. US business surged 82 percent on yearly basis but fell 0.1 percent sequentially.

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