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Market ends with decent gains

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Key benchmark indices ended with decent gains after bouts of volatility in the intraday. The barometer index, the S&P Sensex, rose 77.52 points or 0.24% to 31,924.41, as per the provisional closing data. The 50 index rose 28.20 points or 0.28% to 10,016.95, as per the provisional closing data.

The and the Nifty, both, pared gains after hitting their highest intraday levels in more than two weeks in mid-morning trade. The provisionally ended above the psychologically important 10,000 mark after breaching that level in opening trade.

The rose 147.88 points, or 0.46% at the day's high of 31,994.77 in mid-morning trade, its highest level since 25 September 2017. The index rose 50.01 points, or 0.16% at the day's low of 31,896.90 in mid-afternoon trade. The rose 45.25 points, or 0.45% at the day's high of 10,034 in mid-morning trade, its highest level since 22 September 2017. The index rose 13.55 points, or 0.14% at the day's low of 10,002.30 in mid-afternoon trade.

Among secondary barometers, the Mid-Cap index provisionally rose 0.64%. The Small-Cap index provisionally rose 0.95%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,576 shares rose and 1,143 shares fell. A total of 127 shares were unchanged.

The total turnover on amounted to Rs 3878.69 crore, higher than turnover of Rs 3666.34 crore registered during the previous trading session.

Most auto stocks rose. Ashok Leyland (up 1.85%), TVS Motor Company (up 1.53%), Escorts (up 0.32%), Bajaj Auto (up 0.22%), Hero MotoCorp (up 0.20%) and Maruti Suzuki India (up 0.05%), edged higher. Mahindra & Mahindra (down 0.16%) and Eicher Motors (down 0.59%), edged lower.

Tata Motors was down 0.42% to Rs 424.10. The Tata Motors Group global wholesales in September 2017, including Jaguar Land Rover, were at 1.16 lakh units, higher by 14%, over September 2016. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in September 2017 were at 41,503 units, higher by 20%, over September 2016. Global wholesales of all passenger vehicles in September 2017 were at 74,916 units, higher by 10%, compared to September 2016. Global wholesales for Jaguar Land Rover were 57,365 vehicles (*JLR number for September 17 includes CJLR volumes of 8,045 units). Jaguar wholesales for the month were 17,284 vehicles, while Land Rover wholesales for the month were 40,081 vehicles. *CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR. The announcement was made during trading hours today, 10 October 2017.

Bank of Baroda rose 0.11%. The bank announced that the designated committee of the board has approved issuance of AT-I Capital Bonds compliant with Basel Ill Capital Regulations of the Reserve Bank of India for minimum amount of Rs 500 crore with Green Shoe Option, total issuance not to exceed Rs 1650 crore in one or multiple issuance. This is within overall board approved limit of Rs 3000 crore for AT-I Bonds. The announcement was made during trading hours today, 10 October 2017.

Drug major Lupin rose 2.22% at Rs 1062.85. The company announced the launch of its Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg having received an approval from the United States Food and Drug Administration (FDA) earlier. The drug is AA rated generic equivalent of Allergan Sales LLC's Norco Tablets. It is indicated for the relief of moderate to moderately severe pain. Hydrocodone Bitartrate and Acetaminophen tablets had annual sales of approximately $710 million (IMS MAT Jun 2017). The announcement was made during trading hours today, 10 October 2017.

In a separate announcement after market hours yesterday, 9 October 2017, Lupin said that it has received final approval for its Nadolol Tablets USP, 20mg, 40 mg and 80 mg from the United States Food and Drug Administration (USFDA) to market a generic version of US WorldMeds LLC's Corgard Tablets, 20 mg, 40 mg and 80 mg. The drug is indicated for management of patients with angina pectoris and for the treatment of hypertension. Nadolol Tablets USP, 20mg, 40 mg and 80 mg Tablets had annual US sales of around $109.8 million as per IMS MAT June 2017.

Overseas, most European shares were trading lower following a slightly weaker session on Wall Street as stocks tired from a streak of record highs.

German exports surged in August due to strong demand from the eurozone. The Federal Statistical Office of Germany said Tuesday that total goods exports in August rose 3.1% from July, taking account of seasonal swings and calendar effects. Exports leapt 7.2% from August 2016, led by a 10.6% increase in exports to eurozone countries.

French industrial production unexpectedly fell in August as manufacturing output contracted from July, statistics showed Tuesday. Industrial output in the eurozone's second-largest economy fell 0.3% in August from July, statistics agency Insee said.

Most Asian stocks ended higher as Japan and South Korea reopened for trading after holiday. Taiwan was shut for public holiday.

US equities were lower at the close on Monday, as losses in the healthcare, consumer services and consumer goods sectors dragged shares lower. The Dow Jones Industrial Average declined 0.06%, while the S&P 500 index declined 0.18%, and the Nasdaq Composite index lost 0.16%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 10 2017. 15:32 IST
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