Realty, telecom stocks fall

Key benchmark indices extended gains and hit fresh intraday high in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was up 103.54 points or 0.4% to 25,910.64. The Nifty 50 index was currently up 25.15 points or 0.32% at 7,933.40. Gains in pharma and oil & gas stocks boosted sentiment on domestic bourses.

In side indices, the BSE Mid-Cap index was currently up 0.38%. The BSE Small-Cap index was currently up 0.29%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,069 shares rose and 806 shares fell. A total of 108 shares were unchanged.

Back home, Cipla (up 1.87%), Lupin (up 1.56%) and Sun Pharmaceutical Industries (up 1.2%) were the major gainers from the Sensex pack.

Realty stocks declined. DLF (down 3.18%), Indiabulls Real Estate (down 4.67%), Housing Development and Infrastructure (down 2.12%), D B Realty (down 3.16%), Unitech (down 1.97%), Sobha (down 0.51%), Prestige Estates Projects (down 2.45%), Oberoi Realty (down 1.16%) fell. Godrej Properties (up 0.34%) rose.

Telecom stocks fell. Bharti Airtel (down 0.89%), Idea Cellular (down 0.86%), Tata Teleservices (Maharashtra) (down 0.85%) and Reliance Communications (down 0.3%) edged lower. MTNL (up 5.82%) gained.

Shares of Bharti Infratel rose 0.43%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

Glenmark Pharmaceuticals rose 0.41% after the company said it received abbreviated new drug application approval for Tretinoin capsules. The announcement was made during trading hours today, 27 December 2016.

Glenmark Pharmaceuticals Inc., USA (Glenmark) received final approval from the United States Food & Drug Administration (USFDA) for Tretinoin capsules, 10 milligrams (mg), the generic version of Vesanoid capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).

According to IMS Health sales data for the 12 month period ending October 2016, the Vesanoid Capsules, 10 mg market achieved annual sales of approximately $22 million.

Deepak Nitrite rose 2.63% to Rs 83.80, with the stock recovering on bargain hunting after recent steep slide. Shares of Deepak Nitrite had dropped 17.6% in the preceding seven trading sessions to settle at Rs 81.65 yesterday, 26 December 2016, from its close of Rs 99.10 on 15 December 2016.

Overseas, Asian stocks were trading with slim gains, in thin trade and with little to guide them as most major markets were closed yesterday, 26 December 2016 for Christmas holidays. Markets in Australia, New Zealand and Hong Kong remain shut today, 27 December 2016 while those in the US and the UK will resume trading after the Christmas break.

Powered by Capital Market - Live News