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Indices hit fresh intraday low

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Key benchmark indices extended early losses and hit fresh intraday low in the morning trade. The Nifty struggled to hold 10,950 level and edged lower. The Sensex gave up its crucial support of 37,000. At 10:14 IST, the barometer index, the S&P BSE Sensex, was down 178.8 points or 0.48% at 36,944.51. The Nifty 50 index was down 50.35 points or 0.46% at 10,953.15.

The S&P BSE Mid-Cap index was up 0.04%. The S&P BSE Small-Cap index was up 0.16%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 999 shares rose and 718 shares fell. A total of 78 shares were unchanged.

HDFC AMC was up 0.34% to Rs 2672.8. The stock hit an intraday high of Rs 2703.95 which is also a 52-week high for the counter. Shares of HDFC AMC have advanced 18.07% in last month as compared to 0.61% rise in Sensex.

IT major TCS announced a global partnership with General Motors in future global vehicle engineering. Under this partnership agreement TCS will acquire certain assets at the GM Technical Center in Bengaluru and the IT major will also partner General Motors in supporting its global vehicle programs with engineering design services over the next 5 years. TCS was down 0.81% at Rs 2131.8.

Realty major DLF announced that it has sold over 9 acres of land located in Sector 74 A in Gurugram to American Express (India) for Rs 32 crore an acre. The proposed extension of the Gurugram metro route passes through SPR opposite the land acquired by American Express and so will be the planned Rapid Rail between Delhi & Alwar. DLF was up 0.37% at Rs 162.25.

GVK Power & Infrastructure declined 2.72% after the company announced that its step down subsidiary, GVK Deoli Kota Expressway has terminated its contract with National Highways Authority of India (NHAI) on account of material breach and defaults on NHAI's part. Post this development, GVK Deoli Kota has handed over the toll operations to NHAI.

NBCC (India) announced that it has signed an Memorandum of Understanding (MoU) with Utkal University, Bhubaneswar, Odisha for construction of various infrastructure buildings in existing campus of the University at Bhubneswar and new campus at Chandikhol, Odisha. The cost of the project is Rs 390 crore. NBCC was trading flat at Rs 37.65

SMS Pharmaceuticals tanked 4% after USFDA issued "DMF information request" to demonstrate that Ranitidine API manufacturing process does not contain N-Nitrosodimethylamine (NDMA) impurity. The company assured that is evaluating Ranitidine manufacturing process and will furnish the FDA requested data within specific time period.

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

First Published: Tue, September 17 2019. 10:17 IST
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