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Sensex, Nifty continue trading lower

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Key benchmark indices continued trading lower in morning trade. At 10:23 IST, the barometer index, the S&P BSE Sensex, was down 89.84 points or 0.23% at 39,651.52. The index was down 31.26 points or 0.26% at 11,882.85

Among secondary barometers, the BSE Mid-Cap index was down 0.27%. The BSE Small-Cap index was down 0.05%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 711 shares rose and 988 shares fell. A total of 105 shares were unchanged.

rose 2.70%. The company announced that it has acquired 100% shares of and Softech, a wholly owned subsidiary of for a total cash consideration of $182 million. Mobiquity creates digital products for brands like Amazon Web Services, Rabobank, Philips, Wawa, Backbase and Otsuka.

Pharma shares declined. (down 2.05%), (down 1.83%), (down 1.76%), (down 0.95%), (down 0.92%), (down 0.64%), (down 0.28%) and Lupin (down 0.19%), edged lower. (up 1.26%), (up 0.36%) and (up 0.14%), edged higher.

was down by 1.32%. The company announced that it entered into a definitive asset purchase agreement with would sell its US and select territory rights for 'Zembrace Symtouch' 3 mg and Tosymra 10 mg, also known as "DFN-02", which are commercialized through its wholly owned subsidiary, Under the agreement, Dr.Reddy's Laboratories will receive $70 million as upfront consideration, $40.5 million in near term milestones and additional financial considerations including, existing contractual obligation and inventory.

Most realty stocks witnessed selling. Unitech (down 6.03%), (down 3.06%), Sobha (down 1.61%), (down 1.36%), (down 0.78%), (down 0.47%) and (down 0.29%), all declined. Only (up 0.17%) and Anant Raj (up 0.51%), higher.

On the domestic front, the markets regulator on Thursday directed credit rating agencies (CRAs) to start disclosing the probability of default for the issuers they rate. According to the latest Sebi circular, rating companies, in consultation with the regulator, will now create a uniform probability of default benchmark for each rating category on their website, for one-year, two-year and three-year cumulative default rates, both for the short term and long term.

India's based on wholesale price index (WPI) for May 2019 will be unveiled today, 14 June 2019. WPI-based inflation, base year 2011-12, declined to 3.1% in April 2019 from 3.2% in March 2019, while snapping rise for last two straight months.

Overseas, Asian stock markets were trading lower on Friday as sovereign bonds rate dip. prices rallied after an attack on tankers in the Gulf of Hong Kong's Hang Sang remained under pressure and continued to trade lower.

US stocks gained on Wednesday on expectations that trade officials from the US and will clinch a deal on the sidelines of a

steadied following attacks on two tanker ships in the Gulf of on Thursday. In the global commodities markets, Brent for August 2019 settlement rose $1.34 a barrel or 2.23% to settle at $61.31 a barrel during the previous trading session.

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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, June 14 2019. 10:20 IST
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