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Market holds firm

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Firmness prevailed on the bourses in mid-afternoon trade on steady buying in pivotals. At 14:16 IST, the barometer index, the Sensex, was up 198.94 points or 0.56% at 35,642.61. The was up 63.55 points or 0.59% at 10,831.20. Most and stocks rose. Shares of gained.

Trading for the week began on upbeat note as the key benchmark indices drifted higher in early trade. Stocks extended early gains and hit fresh intraday high in morning trade. Stocks held firm in mid-morning trade on sustained buying demand in pivotals. Indices hovered near the day's high in afternoon trade.

The Mid-Cap index was up 0.4%, underperforming the Sensex. The Small-Cap index was up 0.98%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,679 shares rose and 903 shares fell. A total of 127 shares were unchanged.

rose 1.19% to Rs 1,614.

Most and stocks rose. (Sail) (up 2.99%), Vedanta (up 0.24%), (up 1.08%), (up 1.29%), (up 1.03%) and (up 0.71%) edged higher. (down 1.5%), (down 0.12%), (down 0.8%) and NMDC (down 0.68%) fell.

was locked in 20% upper circuit at Rs 521.80 after the company said it received US drug regulator's approval for Hydrochloride tablets in strength of 75 and 100 milligrams. The announcement was made during trading hours today, 11 June 2018.

announced that the company has received approval from the (USFDA) for its Application (ANDA) Hydrochloride tablets USP, 75 mg and 100 mg. The approved ANDA is therapeutically equivalent to the reference listed (RLD), tablets, 75 mg and 100 mg, of

Hydrochloride tablets USP, 75 mg and 100 mg is indicated for the depressive disorder. tablets USP, 75 mg and 100 mg, have an estimated market size of $37 million for twelve months ending December 2017 according to IMS.

Overseas, European shares were trading higher ahead of a historic meeting between the US and the North Korean leader. Asian stocks were mixed with limited fallout from a tumultuous meeting. Australia's markets are shut for a holiday. US stocks closed higher on Friday, 8 June 2018 as investors brushed aside tensions between the US and major allies.

Traders and investors are closely awaiting a series of domestic and global events this week. Consumer price index (index of industrial production (IIP) data is due tomorrow, 12 June 2018 while the wholesale price index (WPI) inflation data will be announced on Thursday, 14 June 2018.

On the global front, US and North Korean leader will meet for an historic summit in tomorrow, 12 June 2018. The meeting takes place after tensions emerged between Trump and Western allies in the aftermath of a meeting. Trump decided to reject the joint statement after comments from Canadian that Canadians would not be pushed around. The spat emerged due to different views on tariffs and world trade.

UK faces votes that could derail her Brexit policy tomorrow, 12 June 2018. The is expected to raise interest rates Wednesday, 13 June 2018 as the US economy remains solid. rates decision on Thursday, 14 June 2018 and briefing with June monetary policy decision and news conference will follow on Friday, 15 June 2018.

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

First Published: Mon, June 11 2018. 14:21 IST
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