 "Pharma, auto shares weaken in a rangebound market")
Benchmark share indices remained range bound in late morning deals as gains in select index heavyweights led by Reliance Industries helped offset losses in pharma and auto majors.
At 11:50am, the 30-share Sensex was up 56 points at 25,092 and the 50-share Nifty was up about 15 points at 7,628.
In the broader markets, the BSE Midcap and Smallcap indices were also trading flat with positive bias.
Meanwhile, the RBI said it would intervene in the exchange-traded currency derivatives (ETCD) markets, if required. The Indian rupee was trading marginally higher at 66.79 to the US dollar compared to its previous close of 66.83.
Infosys gained nearly 1% on the NSE after the IT major announced that it has made an investment of $4 million in CloudEndure, a startup that provides cloud migration and cloud-based disaster recovery software.
Oil and gas shares were among the top gainers with Reliance Industries and GAIL (India) were up over 2% while ONGC was marginally up.
Sun Pharmaceutical Industries was down 2.5%. The company today announced research collaboration with Weizmann Institute of Science, Israel & Health Research Institute of Santiago, Spain for brain therapies". Lupin was down 1.5%.
Tata Motors witnessed profit taking and was down 1.5% after recent gains post 8% rise in its global sales, including that of Jaguar Land Rover (JLR) vehicles, at 90,695 units in November. Among other auto majors, Maruti Suzuki and M&M were down 0.9-1.3% each.
Wipro was up 0.5% after it announced that Wipro Digital, its digital business unit opened new London pod, furthering its commitment to offer enhanced digital transformation services at close proximity to its UK and European customers.
Havells India was up over 4% after it announced today that it has sold 80% stake in Sylvania Malta, and Havells Exim Hong Kong to Shanghai Feilo Acoustics for Rs 1,340 crore. Havells had invested Rs 980 crore in both the subsidiaries.
Select realty shares such as Phoenix Mills, Prestige Estates, Unitech, Sobha and HDIL were up 1.3-3.7% each after the The Cabinet approved some amendments to the Real Estate (Regulation and Development) Bill, in the making since 2009.
Aurobindo Pharma was up over 1% after the pharma company received US Food and Drug Administration (USFDA)approval to manufacture and market two drugs- Eptifibatide Injection and Levonorgestrel Tablet.
At 11:50am, the 30-share Sensex was up 56 points at 25,092 and the 50-share Nifty was up about 15 points at 7,628.
In the broader markets, the BSE Midcap and Smallcap indices were also trading flat with positive bias.
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Further, foreign portfolio investors (FPIs) remained net sellers in equities worth Rs 527 crore on Wednesday as per provisional data released by the stock exchanges.
Meanwhile, the RBI said it would intervene in the exchange-traded currency derivatives (ETCD) markets, if required. The Indian rupee was trading marginally higher at 66.79 to the US dollar compared to its previous close of 66.83.
Infosys gained nearly 1% on the NSE after the IT major announced that it has made an investment of $4 million in CloudEndure, a startup that provides cloud migration and cloud-based disaster recovery software.
Oil and gas shares were among the top gainers with Reliance Industries and GAIL (India) were up over 2% while ONGC was marginally up.
Sun Pharmaceutical Industries was down 2.5%. The company today announced research collaboration with Weizmann Institute of Science, Israel & Health Research Institute of Santiago, Spain for brain therapies". Lupin was down 1.5%.
Tata Motors witnessed profit taking and was down 1.5% after recent gains post 8% rise in its global sales, including that of Jaguar Land Rover (JLR) vehicles, at 90,695 units in November. Among other auto majors, Maruti Suzuki and M&M were down 0.9-1.3% each.
Wipro was up 0.5% after it announced that Wipro Digital, its digital business unit opened new London pod, furthering its commitment to offer enhanced digital transformation services at close proximity to its UK and European customers.
Havells India was up over 4% after it announced today that it has sold 80% stake in Sylvania Malta, and Havells Exim Hong Kong to Shanghai Feilo Acoustics for Rs 1,340 crore. Havells had invested Rs 980 crore in both the subsidiaries.
Select realty shares such as Phoenix Mills, Prestige Estates, Unitech, Sobha and HDIL were up 1.3-3.7% each after the The Cabinet approved some amendments to the Real Estate (Regulation and Development) Bill, in the making since 2009.
Aurobindo Pharma was up over 1% after the pharma company received US Food and Drug Administration (USFDA)approval to manufacture and market two drugs- Eptifibatide Injection and Levonorgestrel Tablet.