Indices trade with small gains

Key indices traded with small gains in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, advanced 88.44 points or 0.26% at 33,566.79. The Nifty 50 index rose 16.10 points or 0.16% at 10,343. Firmness in Asian stocks supported gains on the domestic bourses.

The market had opened higher on firm Asian stocks and record close for US stocks. However, stocks soon pared gains and slipped into the red. Indices regained positive terrain in mid-morning trade and traded with small gains in early afternoon trade.

The S&P BSE Mid-Cap index declined 0.15%, underperforming the Sensex. The S&P BSE Small-Cap index rose 0.35%, outperforming the Sensex.

The breadth, indicating the overall health of the market, was even. On BSE, 1,231 shares fell and 1,243 shares rose. A total of 148 shares were unchanged.

Most capital goods stocks dropped. BEML (down 0.54%), Bharat Heavy Electricals (Bhel) (down 0.74%), CG Power & Industries (down 0.7%), Thermax (down 0.14%), and Havells India (down 1.2%) declined. L&T (up 0.19%) and Siemens (up 1.16%) gained.

Metal and mining stocks dropped on profit booking after gaining in prior four-days. Jindal Steel & Power (down 0.12%), Vedanta (down 0.62%), Tata Steel (down 0.18%), NMDC (down 0.16%), Hindalco Industries (down 1.19%), Steel Authority of India (down 1.27%), JSW Steel (down 0.62%), Hindustan Zinc (down 0.05%) and National Aluminium Company (down 1.14%) edged lower. Bhushan Steel (up 0.5%) and Hindustan Copper (up 1.12%) gained.

Glenmark Pharmaceuticals rose 0.19% after the company said that it received US drug regulator's approval for Norethindrone Acetate and Ethinyl Estradiol tablets. The announcement was made during trading hours today, 22 November 2017. Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for HAILEY Fe 1/20 (Norethindrone Acetate and Ethinyl Estradiol tablets USP, 1 mg/20 mcg and Ferrous Fumarate tablets), the generic version of Loestrin 1 Fe 1/20 tablets, of Allergan Pharmaceuticals International.

According to IQVIA sales data for the 12 month period ended September 2017, the Loestrin Fe 1/20 tablets market achieved annual sales of approximately $116.80 million.

TeamLease Services rose 9.77% to Rs 2,076.90 after a global investment management firm T Rowe Price purchased stake in the company via bulk deals on NSE yesterday, 21 November 2017. T. Rowe Price International A/C - T Rowe Price International Small-Cap Equity Trust bought 85,736 shares (0.50% stake) and International Discovery Fund bought 7.50 lakh shares (4.39% stake) in TeamLease Services at Rs 1,885 per share through separate bulk deals on NSE yesterday, 21 November 2017.

GPE (India) sold 6.56 lakh shares (3.84% stake) in TeamLease Services at Rs 1,885.04 per share through a bulk deal on NSE yesterday, 21 November 2017. Gaja Capital India Fund I sold 1.53 lakh shares (0.9% stake) in TeamLease Services at Rs 1,885 per share through a bulk deal on NSE yesterday, 21 November 2017.

As on 30 September 2017, GPE (India) held 17.71 lakh shares (10.36% stake) and Gaja Trustee Company 4.13 lakh shares (2.419% stake) in TeamLease Services.

Overseas, Asian shares joined a global rally as strong world growth and rising corporate profits lured hordes of investors into equities. US stock-market indexes ended at records and near session highs yesterday, 21 November 2017, finding support on another round of strong earnings, with technology shares leading the way. The Chicago Fed national activity index rose to 0.65 in October from 0.36 in September. Sales of previously-owned homes jumped to a seasonally adjusted annual pace of 5.48 million in October.

Powered by Capital Market - Live News