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Barometers trade almost flat

Capital Market 

Key equity indices were trading near the flat line with a positive bias in morning trade. At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 21.38 points or 0.06% at 38,861.70. The Nifty 50 index added 9.70 points or 0.08% at 11,458.95.

In the broader market, the S&P BSE Mid-Cap index gained 0.37% while the S&P BSE Small-Cap index rose 0.57%.

The market breadth is positive. On the BSE, 1156 shares rose and 877 shares fell. A total of 146 shares were unchanged.

The foreign ministers of India and China have reportedly agreed that troops of the two countries must quickly disengage from a border standoff, they said in a joint statement issued on Friday. The two foreign ministers agreed that the current situation in the border areas is not in the interest of either side. They agreed therefore that the border troops of both sides should continue their dialogue, quickly disengage, maintain proper distance and ease tensions.

Earning Today:

BHEL (up 1.21%), IRCTC (down 0.51%), MIDHANI (down 0.37%), Rail Vikas Nigam (up 0.48%), Puravankara (up 0.23%), Adani Green Energy (up 3.69%), Future Supply Chain (up 3.68%), Premier Explosives (up 4.27%) and Orissa Minerals Development Company (up 1.27%) are some of the companies that will announce their quarterly earnings today.

Buzzing Index:

The Nifty Realty index rose 2.47% to 217.50. The index has added 3.1% in two sessions.

Indiabulls RE (up 4.26%), Prestige Estates (up 3.37%), Brigade Enterprises (up 3.36%), DLF (up 3.30%), Godrej Properties (up 2.98%), Oberoi Realty (up 1.78%), Omaxe (up 1.23%) and The Phoenix Mills (up 0.88%) advanced.

Stocks in Spotlight:

Yes Bank rose 2.95% to Rs 14.33. The bank's chairman, Sunil Mehta, at the AGM held on Thursday informed that the bank has fully repaid Rs 50,000 crore towards the Special Liquidity Facility (SLF) extended by RBI, well before the due date. Addressing investor queries on whether the bank was going to be merged with State Bank of India (SBI) eventually, Mehta said that no such plans were afoot. He added that neither the bank nor any authority had discussed such a proposal as far as he knew.

Granules India gained 0.66% to Rs 373.50 after the pharmaceutical company announced that its US subsidiary has received marketing approval from the USFDA for Dexmethylphenidate HCI extended-release capsules. The drug is used for the treatment of of attention-deficit hyperactivity disorder (ADHD) from the US Health Regulator (FDA). Granules' capsule product is bioequivalent to the reference listed drug (RLD), Focalin XR. Dexmethylphenidate HCI ER Capsules had US sales of approximately $556 million for the most recent twelve months ending in July 2020 (As per IQVIA MAT July 2020).

National Fertilizers (NFL) added 2.98% to Rs 36.25 after the company's total fertilizer sales rose 16% to 23.81 lakh MT in April-August 2020 over 20.57 lakh MT in April-August 2019. The company produced 16.11 lakh MT urea in the first five months of 2020-21, recording 13% jump against 14.26 lakh MT produced during the same period in 2019-20.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 11 2020. 10:28 IST