Sensex pares losses to end flat, Nifty above 10,100; Dr Reddy's up 7%
Catch all that happened in the market here
 "US Sensex")
US Sensex
Benchmark indices pared some of the morning losses to end flat after pharma stocks rallied on positive corporate announcements. The Nifty Pharma index rose over 3% hitting 7-week high on Thursday.
The fall in the first half of the day was mainly led by fall in banks as investors booked profits a day after the US Federal Reserve signalled one more rate hike by the end of this year.
The Fed held interest rates steady and announced a plan to start shrinking its balance sheet by reducing its holdings of US Treasury bonds and mortgage-backed securities.
In line with expectations the Fed said it would begin in October to cut its roughly $4.2 trillion in US Treasury bonds and mortgage-backed securities holdings by initially cutting up to $10 billion each month from the amount of maturing securities it reinvests.
3:55 PM
Market rundown by Vinod Nair, Head of Research of Geojit Financial Services
Fall in rupee on account of FEDs plan to unwind balance sheet and a rate hike by the end of the year impacted the market sentiment. However, market gradually recovered from low as liquidity was driven to export oriented sectors like IT & Pharma to take the benefit of the dollar and of regulatory approvals.
3:48 PM
Sectoral Trend
Source: NSE
3:42 PM
Nifty PSU Bank index fell over 1% post the Fed announced possibility of one more hike before the end of this year. All constituents were trading in red in the index.
Source: NSE
3:38 PM
Nifty Pharma gained over 3%, hitting 7-week high with all constituents ending in green for the day
Source: NSE
3:36 PM
Top gainers and losers on BSE Sensex
Source: BSE
3:34 PM
Broader Markets
The broader markets underperformed the frontline indices with BSE midcap and BSE Smallcap down 0.3% and 0.5% respectively
The broader markets underperformed the frontline indices with BSE midcap and BSE Smallcap down 0.3% and 0.5% respectively
3:33 PM
Markets at close
The S&P BSE Sensex ended the day at 32,370, down 30 points while the broader Nifty50 index settled at 10,121, down 19 points
Benchmark indices pared some of the morning losses to end flat after pharma stocks rallied on positive corporate announcements. The Nifty Pharma index rose over 3% hitting 7-week high on Thursday.
The S&P BSE Sensex ended the day at 32,370, down 30 points while the broader Nifty50 index settled at 10,121, down 19 points
3:26 PM
Bhagiradha Chemicals zooms 41% in two days on fund raising plan
Bhagiradha Chemicals & Industries was locked in upper circuit for the second straight session, up 20% at Rs 291 on BSE ahead of its board meeting on Friday, September 22, to consider fund raising plan.
Bhagiradha Chemicals & Industries was locked in upper circuit for the second straight session, up 20% at Rs 291 on BSE ahead of its board meeting on Friday, September 22, to consider fund raising plan.
“A meeting of the board of directors of the company will be held on September 22, 2017 to consider and approve, raising of funds by way of issue of convertible warrants and equity shares on preferential basis,” Bhagiradha Chemicals & Industries said in a BSE filing.
3:19 PM
Zydus Pharma recalls 44,800 bottles of antidepressant in US
Cadila Healthcare's US arm, Zydus Pharmaceuticals USA Inc, is recalling 44,800 bottles of antidepressant Paroxetine tablets from the American market, the US health regulator said in a report.
In its latest Enforcement Report, United States Food and Drug Administration (USFDA) has said Zydus Pharmaceuticals USA Inc is recalling the Paroxetine tablets in the strength of 30 mg, manufactured by Cadila Healthcare Ltd.
The reason for the recall is the presence of foreign tablets. "Risperidone tablets were found in the bottle of paroxetine tablets", the report said.
3:09 PM
Market Check
The benchmark indices pared all losses to turn flat in the last leg of the trade, lifted by pharma stocks. At 3:08 pm, the S&P BSE Sensex was trading at 32,374, up 26 points while the broader Nifty50 index was ruling at 10,122, down 18 points.
The benchmark indices pared all losses to turn flat in the last leg of the trade, lifted by pharma stocks. At 3:08 pm, the S&P BSE Sensex was trading at 32,374, up 26 points while the broader Nifty50 index was ruling at 10,122, down 18 points.
2:57 PM
Orchid Pharma up over 15%
Orchid Pharma gained over 15% after it received the Establishment Inspection Report (EIR) from USFDA on the successful inspection of the Active Pharmaceutical Ingredients (API) manufacturing facility located at SIDCO Industrial Estate, Aalthur, Kanchipuram District, Tamil Nadu, India.
Orchid Pharma gained over 15% after it received the Establishment Inspection Report (EIR) from USFDA on the successful inspection of the Active Pharmaceutical Ingredients (API) manufacturing facility located at SIDCO Industrial Estate, Aalthur, Kanchipuram District, Tamil Nadu, India.
2:44 PM
Europe Check
European markets opened slightly higher, after the Federal Reserve announced a plan to begin unwinding its balance sheet and signaled one more interest rate hike for this year.
The pan-European Stoxx 600 edged up around 0.27% shortly after the opening bell, with almost all sectors and major bourses in positive territory.
2:31 PM
The Nifty PSU bank index fell 1% heading for a fourth session of fall in five, on profit-booking
Source: NSE
2:16 PM
Buzzing Stock
ITI soared 19% to Rs 121, also its 52-week high on BSE, after the company announced that it has been declared as the lowest (L1) bidder for the contract value of Rs 7,000 crore.
ITI soared 19% to Rs 121, also its 52-week high on BSE, after the company announced that it has been declared as the lowest (L1) bidder for the contract value of Rs 7,000 crore.
“The company has been declared as L1 in the “ASCON Phase IV Project” by Ministry of Defence. The contract value of the project is approximately Rs 7,000 crore,” ITI said in a BSE filing.
READ FULL REPORT HERE
READ FULL REPORT HERE
2:02 PM
Note ban, GST pull business confidence of CFOs to 1.5-yr low in Q3: Survey
Amid subdued demand after goods and services (GST) implementation and demonetisation woes, the business confidence in India’s chief financial officers (CFOs) touch one-and-a-half-year low in the July-September period, reveals a survey.
The Composite CFO Optimism Index for Q3FY17 declined by 11% year-on-year and by 5.7% on a quarter-on-quarter basis, says Dun & Bradstreet Composite Optimism Index for Q1 2017.
Only 41 per cent of the CFOs expressed optimism about liquidity position of their companies — the lowest since Q2 (April-June) 2014. READ MORE
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First Published: Sep 21 2017 | 3:31 PM IST