Weakness prevails in key indices

Key benchmark indices continued to hover in negative terrain in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was down 65.10 points or 0.25% at 25,799.37. The Nifty 50 index was down 19.05 points or 0.24% at 7,818.50.

The BSE Sensex fell 78.68 points, or 0.30% at the day's low of 25,785.79 in mid-morning trade. The Nifty 50 fell 24.45 points, or 0.31% at the day's low of 7,813.10 in morning trade. The BSE Sensex rose 25.89 points, or 0.10% at the day's high of 25,890.36 in early trade. The Nifty 50 index rose 5.85 points, or 0.07% at the day's high of 7,843.40 in early trade.

The market breadth indicating the overall health of the market was positive. On BSE, 1,209 shares rose and 965 shares fell. A total of 148 shares were unchanged. The BSE Mid-Cap index was up 0.19%. The BSE Small-Cap index was up 0.31%. Both these indices outperformed the Sensex.

In overseas markets, Asian shares were mixed today, 18 November 2015, as investors remain cautious over the latest global geopolitical developments in the wake of Paris terror attacks. US stocks gave up earlier gains to end almost flat yesterday, 17 November 2015, as falling oil prices overshadowed strong earnings from giant retailers Wal-Mart Stores and Home Depot Inc. The evacuation of a soccer stadium in Germany also rekindled terror fears, unnerving investors.

Capital goods shares were in demand. Havells India (up 2.90%), BEML (up 0.94%), Pipavav Defence and Offshore Engineering Company (up 0.87%), Larsen & Toubro (up 0.85%), Alstom T&D India (up 0.83%), Siemens (up 0.71%), Crompton Greaves (up 0.55%), Praj Industries (up 0.41%), SKF India (up 0.24%), ALSTOM India (up 0.23%), Suzlon Energy (up 0.23%), ABB India (up 0.22%), Bharat Heavy Electricals (up 0.17%), AIA Engineering (up 0.15%), Thermax (up 0.14%) and Lakshmi Machine Works (up 0.08%), edged higher. Bharat Electronics (down 0.12%) and Jindal Saw (down 0.39%), edged lower.

Power generation stocks edged higher. GMR Infrastructure (up 5.86%), NTPC (up 1.89%), NHPC (up 1.36%), JSW Energy (up 0.95%), CESC (up 0.72%), Adani Power (up 0.70%), Reliance Power (up 0.70%), Torrent Power (up 0.56%), Tata Power (up 0.52%) and Reliance Infrastructure (up 0.48%), edged higher.

Dr Reddy's Laboratories was down 1.73%. The company announced during trading hours today, 18 November 2015, that it has completed the purchase of worldwide exclusive intellectual property rights for Fondaparinux sodium, its generic anti-coagulant drug from its Australian partner, Aichemia. Earlier, the company had signed a term sheet for this transaction in September 2015. Alchemia's shareholders approved the sale of Fondaparinux at the company's annual general meeting held on 10 November 2015, post which Dr Reddy's and Alchemia have executed a purchase and sale agreement, together with various patent assignment deeds. Alchemia has received $17.5 million from Dr Reddy's as consideration for the sale. The agreement is effective July 2015, Dr Reddy's Laboratories said in a statement.

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