 "Pharma and bank shares gain amid choppy trades")
Benchmark shares indices were trading flat, amid choppy trades, as gains in pharma and bank shares helped offset losses in select IT majors.
At 1:25PM, the 30-share Sensex was down 18 points at 25,846 and the 50-share Nifty was up 1 point at 7,870.
In the broader market, the BSE MidCap index was up 0.3% and the SmallCap index was up 0.5%. Market breadth was positive with 1,282 gainers and 1,156 losers on the BSE.
Further, in the first ever merger of two regulators, over 60-year-old FMC (Forward Markets Commission) will merge with the younger but much bigger capital markets watchdog Sebi to create a unified regulatory body.
GLOBAL MARKETS
Global markets were trading mixed with shares in Japan easing after recent gains. The benchmark Nikkei ended down 1.3% while Shanghai COmposite was up 0.3% and Hang Seng gained 0.4%.
European shares were trading marginally lower in early trades today weighed down by losses in telecom major Vodafone. FTSE, CAC-40 and DAX down 0.2-0.3% each.
SECTORS & STOCKS
BSE Realty index was the top gainer up 2.5% followed by Consumer Durables, Healthcare and Bankex among others.
Dr Reddy's Labs was up 5.6% after the drug maker announced the launch of Esomeprazole Magnesium Delayed-release capsules, which is the generic version of AstraZeneca's Nexium, in the US market. Lupin, Cipla were up 1-3% each.
However, Sun Pharmaceutical was down 2.5% after the US Food and Drugs Administration (USFDA) withdrew an approval granted in March to SPARC’s anti-epileptic drug due to regulatory compliance issues at Sun Pharma's Halol plant.
Bank stocks gained after the Reserve Bank of India (RBI) announced measures to enhance commercial banks' ability to recover loans to borrowing entities which are under stress primarily due to operational/managerial inefficiencies of the existing promoters. ICICI Bank, HDFC Bank, Axis Bank and SBI were up 0.3-1.3% each.
Select IT shares were down amid an appreciating rupee. Infosys and Wipro were down 1.2-2.5% each.
Other Sensex losers include, Coal India, ONGC and Vedanta among others.
Among other shares, Gammon India surged over 10% to Rs 12.50 on the Bombay Stock Exchange after the company announced that it has received a huge order from the National Highways Authority of India (NHAI).
At 1:25PM, the 30-share Sensex was down 18 points at 25,846 and the 50-share Nifty was up 1 point at 7,870.
In the broader market, the BSE MidCap index was up 0.3% and the SmallCap index was up 0.5%. Market breadth was positive with 1,282 gainers and 1,156 losers on the BSE.
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Meanwhile, the Indian rupee continued to appreciate against the US dollar and was trading higher by 5 paise at 66.10 amid dollar sales by banks and exporters.
Further, in the first ever merger of two regulators, over 60-year-old FMC (Forward Markets Commission) will merge with the younger but much bigger capital markets watchdog Sebi to create a unified regulatory body.
GLOBAL MARKETS
Global markets were trading mixed with shares in Japan easing after recent gains. The benchmark Nikkei ended down 1.3% while Shanghai COmposite was up 0.3% and Hang Seng gained 0.4%.
European shares were trading marginally lower in early trades today weighed down by losses in telecom major Vodafone. FTSE, CAC-40 and DAX down 0.2-0.3% each.
SECTORS & STOCKS
BSE Realty index was the top gainer up 2.5% followed by Consumer Durables, Healthcare and Bankex among others.
Dr Reddy's Labs was up 5.6% after the drug maker announced the launch of Esomeprazole Magnesium Delayed-release capsules, which is the generic version of AstraZeneca's Nexium, in the US market. Lupin, Cipla were up 1-3% each.
However, Sun Pharmaceutical was down 2.5% after the US Food and Drugs Administration (USFDA) withdrew an approval granted in March to SPARC’s anti-epileptic drug due to regulatory compliance issues at Sun Pharma's Halol plant.
Bank stocks gained after the Reserve Bank of India (RBI) announced measures to enhance commercial banks' ability to recover loans to borrowing entities which are under stress primarily due to operational/managerial inefficiencies of the existing promoters. ICICI Bank, HDFC Bank, Axis Bank and SBI were up 0.3-1.3% each.
Select IT shares were down amid an appreciating rupee. Infosys and Wipro were down 1.2-2.5% each.
Other Sensex losers include, Coal India, ONGC and Vedanta among others.
Among other shares, Gammon India surged over 10% to Rs 12.50 on the Bombay Stock Exchange after the company announced that it has received a huge order from the National Highways Authority of India (NHAI).