Markets Gain Momentum as Realty and Pharma Stocks Boost Sentiment
Godrej Properties launches a high-end residential project in Bengaluru, while Biocon Ltd receives positive feedback from the USFDA. These developments, along with other positive corporate news, are driving the market sentiment higher.
Real EstatePharmaceuticalsMarket SentimentSensexNiftyReal EstateJun 16, 2025
On the pharma front, Biocon Ltd shared updates related to inspections by the United States Food and Drug Administration (USFDA). A recent Good Clinical Practices (GCP) audit conducted between June 9 and 13 at its Semicon Park, Bengaluru site concluded successfully with no observations or Form 483 issued. The inspection was classified as “No Action Indicated” (NAI), reflecting full compliance.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, commented, “The week opened positively, but once again, the market faced resistance near 25,200/82,800 and reversed. Technically, on weekly charts, it has formed a long bearish candle and is currently trading comfortably below the 20-day SMA (Simple Moving Average), which is largely negative. We believe that as long as the market remains below the 20-day SMA or 24,850/81,600, weak sentiment is likely to continue. On the downside, the market could retest the level of 24,500/80,500. A breach of 24,500/80,500 could accelerate selling pressure. Below this level, the index could slip to the 50-day SMA around 24,300/79,900.”
“On the upside, a break above 24,750/81,300 could extend the pullback move up to 24,850/81,600. Further gains may also continue, lifting the market toward 24,950–25,000/81,900–82,100. For Bank Nifty, the key support zone is between 55,000 and 55,200. Above this range, it could bounce back toward 56,100–56,300. Conversely, a fall below 55,000 increases the likelihood of testing the 50-day SMA or 54,500,” added Chouhan.
Overall, the market mood remained upbeat in early trade, aided largely by positive company-specific news, despite volatility in the global market.
Frequently Asked Questions
What is the estimated revenue potential of Godrej Properties' new residential project in Bengaluru?
The new residential project by Godrej Properties in East Bengaluru’s Hoskote area is estimated to have a revenue potential of approximately ₹1,500 crore.
What was the outcome of the USFDA inspection at Biocon Ltd's Semicon Park site?
The USFDA inspection at Biocon Ltd's Semicon Park, Bengaluru site concluded successfully with no observations or Form 483 issued, classified as ‘No Action Indicated’ (NAI).
What is the current technical outlook for the market according to Shrikant Chouhan of Kotak Securities?
Shrikant Chouhan of Kotak Securities believes that as long as the market remains below the 20-day SMA or 24,850/81,600, weak sentiment is likely to continue. On the downside, the market could retest the level of 24,500/80,500.
What are the key support and resistance levels for Bank Nifty according to Shrikant Chouhan?
The key support zone for Bank Nifty is between 55,000 and 55,200. Above this range, it could bounce back toward 56,100–56,300. Conversely, a fall below 55,000 increases the likelihood of testing the 50-day SMA or 54,500.
What factors are driving the market sentiment higher in early trade?
The market sentiment is being driven higher by positive company-specific news, such as the launch of a new residential project by Godrej Properties and the successful USFDA inspection at Biocon Ltd, despite global market volatility.
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