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Market sees a lacklustre trade

In a lacklustre trading session, key benchmark indices traded with minuscule losses in afternoon trade. At 13:19 IST, the barometer index, the S&P Sensex, was down 25.26 points or 0.09% at 28,747.87. The 50 index was currently down 4.80 points or 0.05% at 8,862.65.

In overseas stock markets, European stocks edged lower as investors paused for breath after recent gains and awaited the latest data on manufacturing and services activity in the euro zone. Asian stocks edged lower amid a slew of economic data. In mainland China, the Shanghai Composite settled 0.28% lower. In Hong Kong, the Hang Seng was currently down 0.39%. The MNI China business sentiment index came it at 55.8 in September 2016, up from a marginally revised 54.1 in August, driven by a faster increase in new orders and a further strengthening in confidence among manufacturing companies. In Japan, the Nikkei 225 Average ended 0.32% lower. Japanese manufacturing activity expanded for the first time in seven months in September, a preliminary survey showed today, 23 September 2016. The IHS Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) rose to 50.3 in September from a final 49.5 in August on a seasonally adjusted basis.

US stocks registered modest gains yesterday, 22 September 2016, extending previous trading session's gains as investors digested several economic data releases and the Federal Reserve's latest monetary policy decision. US home resales unexpectedly fell in August 2016. The National Association of Realtors said yesterday, 22 September 2016 that existing home sales declined 0.9% to an annual rate of 5.33 million units.

Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,277 shares rose and 1,198 shares declined. A total of 234 shares were unchanged. The Mid-Cap index was currently up 0.55%. The Small-Cap index was currently up 0.54%. Both these indices outperformed the Sensex.

Index heavyweight Reliance Industries (RIL) rose 1.07% to Rs 1,099.30. The stock hit a high of Rs 1,100.50 and a low of Rs 1,088 so far during the day.

FMCG stocks were mixed. Godrej Consumer Products (down 1.26%), Jyothy Laboratories (down 0.86%), Dabur India (down 0.82%), Colgate Palmolive (India) (down 0.76%), Hindustan Unilever (down 0.58%), GlaxoSmithKline Consumer Healthcare (down 0.56%) and Marico (down 0.24%), edged lower. Nestle India (up 0.09%), Bajaj Corp (up 0.15%), Britannia Industries (up 0.67%), Procter & Gamble Hygiene & Health Care (up 1.34%) and Tata Global Beverages (up 2.70%), edged higher.

Most pharmaceutical shares edged higher. Glenmark Pharmaceuticals (up 1.81%), Cadila Healthcare (up 1.42%), Strides Shasun (up 1.26%), GlaxoSmithKline Pharmaceuticals (up 0.90%), Piramal Enterprises (up 0.84%), Cipla (up 0.83%), Dr Reddy's Laboratories (up 0.70%), Alkem Laboratories (up 0.46%), Divi's Laboratories (up 0.17%) and Aurobindo Pharma (up 0.12%), edged higher. Sun Pharmaceutical Industries (down 0.1%), Wockhardt (down 0.12%), IPCA Laboratories (down 1.35%) and Lupin (down 1.54%), edged lower.

Morepen Laboratories surged 8.87% at Rs 27 on reports that the company may sell its over-the-counter (OTC) brands to focus on active pharmaceutical ingredient and home diagnostics business as growth drivers. As per reports, Morepen Laboratories is considering a business rejig which could lead to a potential sale of the over-the-counter brands, including antiseptic cream Burnol. The company's OTC portfolio include Lemolate cold and cough relief remedy, Sat-Isabgol, anti-fungal and antibacterial cream Itch Beat, Fever-X, Pain-X, a face wash and 2 Cool hair oil, among other brands.

Jubilant Life Sciences gained 3.92% at Rs 644.65 after the company said that its material wholly-owned subsidiary's board of directors approved offering of unsecured high yield bonds. The board of directors of company's material wholly-owned subsidiary, Jubilant Pharma (JPL) at a meeting held today, 23 September 2016, approved the proposal to launch a benchmark offering of unsecured high yield bonds (notes) outside India by JPL. The notes are proposed to be listed on the Singapore Exchange Securities Trading. Jubilant Pharma is a company incorporated under the laws of Singapore outside India. The announcement was made during market hours today, 23 September 2016.

Gayatri Projects rose 1.11% to Rs 683.05 ater the company secured a Rs 1255 crore contract in a joint venture with Russian construction company PTPS. The contract is for rehabilitation and upgradation of four laning of a highway in Odisha on engineering, procurement, and construction (EPC) mode. The announcement was made during market hours today, 23 September 2016.

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

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Business Standard

Market sees a lacklustre trade

Capital Market 

In a lacklustre trading session, key benchmark indices traded with minuscule losses in afternoon trade. At 13:19 IST, the barometer index, the S&P Sensex, was down 25.26 points or 0.09% at 28,747.87. The 50 index was currently down 4.80 points or 0.05% at 8,862.65.

In overseas stock markets, European stocks edged lower as investors paused for breath after recent gains and awaited the latest data on manufacturing and services activity in the euro zone. Asian stocks edged lower amid a slew of economic data. In mainland China, the Shanghai Composite settled 0.28% lower. In Hong Kong, the Hang Seng was currently down 0.39%. The MNI China business sentiment index came it at 55.8 in September 2016, up from a marginally revised 54.1 in August, driven by a faster increase in new orders and a further strengthening in confidence among manufacturing companies. In Japan, the Nikkei 225 Average ended 0.32% lower. Japanese manufacturing activity expanded for the first time in seven months in September, a preliminary survey showed today, 23 September 2016. The IHS Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) rose to 50.3 in September from a final 49.5 in August on a seasonally adjusted basis.

US stocks registered modest gains yesterday, 22 September 2016, extending previous trading session's gains as investors digested several economic data releases and the Federal Reserve's latest monetary policy decision. US home resales unexpectedly fell in August 2016. The National Association of Realtors said yesterday, 22 September 2016 that existing home sales declined 0.9% to an annual rate of 5.33 million units.

Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,277 shares rose and 1,198 shares declined. A total of 234 shares were unchanged. The Mid-Cap index was currently up 0.55%. The Small-Cap index was currently up 0.54%. Both these indices outperformed the Sensex.

Index heavyweight Reliance Industries (RIL) rose 1.07% to Rs 1,099.30. The stock hit a high of Rs 1,100.50 and a low of Rs 1,088 so far during the day.

FMCG stocks were mixed. Godrej Consumer Products (down 1.26%), Jyothy Laboratories (down 0.86%), Dabur India (down 0.82%), Colgate Palmolive (India) (down 0.76%), Hindustan Unilever (down 0.58%), GlaxoSmithKline Consumer Healthcare (down 0.56%) and Marico (down 0.24%), edged lower. Nestle India (up 0.09%), Bajaj Corp (up 0.15%), Britannia Industries (up 0.67%), Procter & Gamble Hygiene & Health Care (up 1.34%) and Tata Global Beverages (up 2.70%), edged higher.

Most pharmaceutical shares edged higher. Glenmark Pharmaceuticals (up 1.81%), Cadila Healthcare (up 1.42%), Strides Shasun (up 1.26%), GlaxoSmithKline Pharmaceuticals (up 0.90%), Piramal Enterprises (up 0.84%), Cipla (up 0.83%), Dr Reddy's Laboratories (up 0.70%), Alkem Laboratories (up 0.46%), Divi's Laboratories (up 0.17%) and Aurobindo Pharma (up 0.12%), edged higher. Sun Pharmaceutical Industries (down 0.1%), Wockhardt (down 0.12%), IPCA Laboratories (down 1.35%) and Lupin (down 1.54%), edged lower.

Morepen Laboratories surged 8.87% at Rs 27 on reports that the company may sell its over-the-counter (OTC) brands to focus on active pharmaceutical ingredient and home diagnostics business as growth drivers. As per reports, Morepen Laboratories is considering a business rejig which could lead to a potential sale of the over-the-counter brands, including antiseptic cream Burnol. The company's OTC portfolio include Lemolate cold and cough relief remedy, Sat-Isabgol, anti-fungal and antibacterial cream Itch Beat, Fever-X, Pain-X, a face wash and 2 Cool hair oil, among other brands.

Jubilant Life Sciences gained 3.92% at Rs 644.65 after the company said that its material wholly-owned subsidiary's board of directors approved offering of unsecured high yield bonds. The board of directors of company's material wholly-owned subsidiary, Jubilant Pharma (JPL) at a meeting held today, 23 September 2016, approved the proposal to launch a benchmark offering of unsecured high yield bonds (notes) outside India by JPL. The notes are proposed to be listed on the Singapore Exchange Securities Trading. Jubilant Pharma is a company incorporated under the laws of Singapore outside India. The announcement was made during market hours today, 23 September 2016.

Gayatri Projects rose 1.11% to Rs 683.05 ater the company secured a Rs 1255 crore contract in a joint venture with Russian construction company PTPS. The contract is for rehabilitation and upgradation of four laning of a highway in Odisha on engineering, procurement, and construction (EPC) mode. The announcement was made during market hours today, 23 September 2016.

Powered by Capital Market - Live News

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

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Market sees a lacklustre trade

In a lacklustre trading session, key benchmark indices traded with minuscule losses in afternoon trade. At 13:19 IST, the barometer index, the S&P BSE Sensex, was down 25.26 points or 0.09% at 28,747.87. The Nifty 50 index was currently down 4.80 points or 0.05% at 8,862.65.

In a lacklustre trading session, key benchmark indices traded with minuscule losses in afternoon trade. At 13:19 IST, the barometer index, the S&P Sensex, was down 25.26 points or 0.09% at 28,747.87. The 50 index was currently down 4.80 points or 0.05% at 8,862.65.

In overseas stock markets, European stocks edged lower as investors paused for breath after recent gains and awaited the latest data on manufacturing and services activity in the euro zone. Asian stocks edged lower amid a slew of economic data. In mainland China, the Shanghai Composite settled 0.28% lower. In Hong Kong, the Hang Seng was currently down 0.39%. The MNI China business sentiment index came it at 55.8 in September 2016, up from a marginally revised 54.1 in August, driven by a faster increase in new orders and a further strengthening in confidence among manufacturing companies. In Japan, the Nikkei 225 Average ended 0.32% lower. Japanese manufacturing activity expanded for the first time in seven months in September, a preliminary survey showed today, 23 September 2016. The IHS Markit/Nikkei Japan Flash Manufacturing Purchasing Managers Index (PMI) rose to 50.3 in September from a final 49.5 in August on a seasonally adjusted basis.

US stocks registered modest gains yesterday, 22 September 2016, extending previous trading session's gains as investors digested several economic data releases and the Federal Reserve's latest monetary policy decision. US home resales unexpectedly fell in August 2016. The National Association of Realtors said yesterday, 22 September 2016 that existing home sales declined 0.9% to an annual rate of 5.33 million units.

Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,277 shares rose and 1,198 shares declined. A total of 234 shares were unchanged. The Mid-Cap index was currently up 0.55%. The Small-Cap index was currently up 0.54%. Both these indices outperformed the Sensex.

Index heavyweight Reliance Industries (RIL) rose 1.07% to Rs 1,099.30. The stock hit a high of Rs 1,100.50 and a low of Rs 1,088 so far during the day.

FMCG stocks were mixed. Godrej Consumer Products (down 1.26%), Jyothy Laboratories (down 0.86%), Dabur India (down 0.82%), Colgate Palmolive (India) (down 0.76%), Hindustan Unilever (down 0.58%), GlaxoSmithKline Consumer Healthcare (down 0.56%) and Marico (down 0.24%), edged lower. Nestle India (up 0.09%), Bajaj Corp (up 0.15%), Britannia Industries (up 0.67%), Procter & Gamble Hygiene & Health Care (up 1.34%) and Tata Global Beverages (up 2.70%), edged higher.

Most pharmaceutical shares edged higher. Glenmark Pharmaceuticals (up 1.81%), Cadila Healthcare (up 1.42%), Strides Shasun (up 1.26%), GlaxoSmithKline Pharmaceuticals (up 0.90%), Piramal Enterprises (up 0.84%), Cipla (up 0.83%), Dr Reddy's Laboratories (up 0.70%), Alkem Laboratories (up 0.46%), Divi's Laboratories (up 0.17%) and Aurobindo Pharma (up 0.12%), edged higher. Sun Pharmaceutical Industries (down 0.1%), Wockhardt (down 0.12%), IPCA Laboratories (down 1.35%) and Lupin (down 1.54%), edged lower.

Morepen Laboratories surged 8.87% at Rs 27 on reports that the company may sell its over-the-counter (OTC) brands to focus on active pharmaceutical ingredient and home diagnostics business as growth drivers. As per reports, Morepen Laboratories is considering a business rejig which could lead to a potential sale of the over-the-counter brands, including antiseptic cream Burnol. The company's OTC portfolio include Lemolate cold and cough relief remedy, Sat-Isabgol, anti-fungal and antibacterial cream Itch Beat, Fever-X, Pain-X, a face wash and 2 Cool hair oil, among other brands.

Jubilant Life Sciences gained 3.92% at Rs 644.65 after the company said that its material wholly-owned subsidiary's board of directors approved offering of unsecured high yield bonds. The board of directors of company's material wholly-owned subsidiary, Jubilant Pharma (JPL) at a meeting held today, 23 September 2016, approved the proposal to launch a benchmark offering of unsecured high yield bonds (notes) outside India by JPL. The notes are proposed to be listed on the Singapore Exchange Securities Trading. Jubilant Pharma is a company incorporated under the laws of Singapore outside India. The announcement was made during market hours today, 23 September 2016.

Gayatri Projects rose 1.11% to Rs 683.05 ater the company secured a Rs 1255 crore contract in a joint venture with Russian construction company PTPS. The contract is for rehabilitation and upgradation of four laning of a highway in Odisha on engineering, procurement, and construction (EPC) mode. The announcement was made during market hours today, 23 September 2016.

Powered by Capital Market - Live News

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

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