Sensex, Nifty fall for second day; NTPC down two pct

The market on Monday recouped some losses as the equity benchmarks fell for the second consecutive session. The Sensex traded down 91.46 points at 27985.54, while the Nifty traded down 37.75 points at 8629.15.

Shares such as Lupin, TCS, Sun Pharma and NTPC topped the selling list on Sensex, whereas ITC, HUL and BHEL gained one to two percent.

India's largest power generation company NTPC announced profit in April-June quarter grew by 4.1 percent year-on-year to Rs. 2,369 crore from Rs. 2,276 crore in year-ago period.

Revenue stood at Rs. 19,063 crore for the quarter, up 11.5 percent YoY.

Profit was estimated at Rs. 2,346 crore on revenue of Rs. 18,487 crore for the quarter, according to average of estimates of analysts' poll.

Drug firm Lupin also announced receiving approval from the Central Drugs Standard Control Organisation (CDSCO) for Acotiamide 100 mg tablets used for treatment of indigestion.

It said the company will shortly start promoting the product in India.

In a BSE filing, it said, "Acotiamide is a first-in-class novel drug to be introduced into the Indian pharmaceutical market which could benefit millions of patients suffering from dyspepsia or indigestion, amongst the most common stomach complaints encountered in clinical practice."

Acotiamide is approved by Pharmaceuticals and Medical Devices Agency (PMDA) Japan and is actively marketed in Japan, it added.