In overseas markets, Asian markets were trading lower as a new poll showing Republican candidate Donald Trump leading the US presidential race spooked investors. US markets closed lower yesterday, 1 November 2016 as investors grappled with a tightening presidential race, economic data, corporate earnings, and the Federal Reserve's monetary policy decision. Polls reportedly show the race between Democratic nominee Hillary Clinton and Republican rival Donald Trump continues to tighten. Another poll reportedly showed Trump taking a one-point lead, while the polling average showed Clinton's lead narrowed to 2.2 percentage points from more than 7 points two weeks ago. Clinton is seen as the more market-friendly candidate by many investors. Meanwhile, the Federal Open Market Committee (FOMC)'s two-day meet on monetary policy will concludes today, 2 November 2016 and is widely expected to leave rates unchanged. FOMC in its September meet had kept policy rate unchanged.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 123.96 crore yesterday, 1 November 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 192.10 crore yesterday, 1 November 2016, as per provisional data.
Lupin announced that it has received final approval for Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Janssen Pharmaceuticals, Inc.'s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). The approved product will be manufactured at Lupin's Pithampur facility. Lupin's Norgestimate and Ethinyl Estradiol Tablets USP, 0.25 mg/0.035 mg are the AB rated generic equivalent of Janssen Pharmaceuticals, Inc.'s Ortho-Cyclen 28 Tablets (Norgestimate/Ethinyl Estradiol). It is indicated for use by females of reproductive potential to prevent pregnancy. Ortho-Cyclen Tablets had US sales of $178.2 million as per IMS MAT June 2016. The announcement was made after market hours yesterday, 1 November 2016.
NTPC announced that in continuation with company's earlier disclosures in respect of Hindustan Urvarak & Rasayn (HURL), a joint venture company formed between NTPC (NTPC) and Coal India (CIL), a supplemental joint venture agreement has been signed on 31 October 2016 amongst NTPC, CIL, Indian Oil Corporation (IOC), Fertilizer Corporation of India (FCIL) and Hindustan Fertilizer Corporation (HFCL) in order to induct IOC, FCIL and HFCL, as joint venture partners and shareholders in HURL. Now, HURL shall also take up revival of Barauni plant of HFCL in addition to revival of Gorakhpur and Sindri plants of FCIL by setting up ammonia urea plants at each locations. The announcement was made after market hours yesterday, 1 November 2016.
Eicher Motors said total volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 14.42% to 4,560 units in October 2016 over October 2015. The announcement was made after market hours yesterday, 1 November 2016.
A divergent trend was witnessed as the barometer index, the S&P BSE Sensex, settled with small losses while the Nifty 50 index settled a tad higher. The Sensex fell 53.60 points or 0.19% to settle at 27,876.61, its lowest closing level since 26 October 2016.
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