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Sensex pares losses to end flat, Nifty above 10,100; Dr Reddy's up 7%

Catch all that happened in the market here

SI Reporter  |  New Delhi 

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 ...

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Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

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.

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

Sectoral Trend Source: NSE

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

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

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

Nifty Pharma gained over 3%, hitting 7-week high with all constituents ending in green for the day Source: NSE

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

Top gainers and losers on BSE Sensex Source: BSE

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

Broader Markets The broader markets underperformed the frontline indices with BSE midcap and BSE Smallcap down 0.3% and 0.5% respectively

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

Markets at close 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

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

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.   “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.

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

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.

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

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.

Sensex pares losses to end flat, Nifty above 10,100; Dr Reddys up 7%

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.  

First Published: Thu, September 21 2017. 15:31 IST
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Sensex pares losses to end flat, Nifty above 10,100; Dr Reddy's up 7%

Catch all that happened in the market here

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 ...

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