Barometers trade with decent gains

Key benchmark indices were trading with decent gain in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 93.66 points or 0.24% at 39,709.56. The Nifty 50 index was up 29.10 points or 0.25% at 11,899.75.

In the foreign exchange market, the rupee inched lower against the dollar. The partially convertible rupee was hovering at 69.5375, compared with its close of 69.46 during the previous trading session.

Indices opened higher and hit fresh intraday high in early trade. Benchmarks started regressing from the day's high in morning trade as profit booking emerged at higher level. Barometers regained composure and traded with decent gains in mid-afternoon trade.

Broader market underperformed benchmark indices. The BSE Mid-Cap index was up 0.01% The BSE Small-Cap index was down 0.52%.

The market breadth was tilted in favour of losers. On BSE, 912 shares rose and 1599 shares fell while 159 shares were unchanged.

Pharma stocks were mixed. Cadila Healthcare (up 3.05%), Dr. Reddy's Laboratories (up 1.30%), Glenmark Pharmaceuticals (up 0.88%), Aurobindo Pharmaceuticals (up 0.85%),Piramal Enterprise (up 0.76%), Cipla (up 0.73%) and Biocon (up 0.54%), increased. While, Divi's Laboratories (down 0.46%), Lupin (down 0.69%) and Sun Pharmaceuticals (down 0.81%), declined.

Titan Company was up 0.68% at Rs 1275. On BSE, the stock hit an intraday high of Rs 1287.55, which is also a record high for the counter. Titan surged nearly 43% in last 12 months compared to 16% rise in Sensex.

Bharat Heavy Electricals (Bhel) announced that it has secured three major orders in quick succession, for setting up Solar Photovoltaic (SPV) Power Plants totaling to 135 MW, on Engineering, Procurement and Construction (EPC) basis. The orders have been secured from Maharashtra State Power Generation Company (MAHAGENCO), Gujarat State Electricity Corporation (GSECL) and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC). The stock was up 0.29% at Rs 68.45.

Parag Milk Foods has announced the launch of its farm-to-home premium milk brand 'Pride of Cows' in Singapore. Pride of Cows', the flagship brand of Parag Milk Foods was introduced with the proposition of a Farm to Home concept targeted towards customers seeking premium quality cow milk. The stock was down 0.31% at Rs 241.

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