Sensex regains 35,000 in volatile trade

Volatility ruled the roost in early trade as the key benchmark indices cut initial losses triggered by negative Asian stocks. At 9:30 IST, the barometer index, the S&P BSE Sensex, was down 123.36 points or 0.35% at 35,045.80. The Nifty 50 index was down 59.40 points or 0.56% at 10,539.85. The Sensex regained the psychological 35,000 level soon after sliding below that level in early trade.

The S&P BSE Mid-Cap index was down 0.23%. The S&P BSE Small-Cap index was down 0.12%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 738 shares rose and 609 shares fell. A total of 54 shares were unchanged.

Overseas, Asian stocks were trading lower after US equities fell to a three-week low amid the surge in bond yields. US stocks dropped yesterday, 4 October 2018 as the rout in Treasuries that took yields to multiyear highs fueled a repricing of risk assets.

Back home, ONGC (down 10.54%), Bajaj Auto (down 3.06%), Hindustan Unilever (down 1.91%), Reliance Industries (down 1.3%) and ITC (down 1.17%) edged lower from the Sensex pack.

Pharma major Lupin rose 1.2% announced the launch of Potassium Chloride Oral Solution USP, 20 mEq/15mL {10%) and 40 mEq/15 mL (20%), having received an approval from the United States Food and Drug Administration (FDA) earlier.

Lupin's Potassium Chloride Oral Solution USP, 20 mEq/15mL (10%) and 40 mEq/15 mL (20%), is the generic equivalent of Genus Lifesciences, Inc.'s Potassium Chloride Oral Solution. It is indicated for the treatment and prophylaxis of hypokalemia with or without metabolicalkalosis, in patients for whom dietary management with potassium-rich foods and/or diureticdose reduction are insufficient. Potassium Chloride Oral Solution had annual sales of approximately $184.95 million in the US {IQVIA MAT June 2018).

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