Amid a bout of volatility, key benchmark indices pared losses in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was down 13.29 points or 0.05% at 24,603.68. The 50-unit Nifty 50 index was down 6.10 points or 0.08% at 7,483.
The market breadth indicating the overall health of the market was positive. On BSE, 1,119 shares rose and 769 shares fell. A total of 90 shares were unchanged. The BSE Mid-Cap index was currently up 0.49%. The BSE Small-Cap index was currently up 0.49%. Both these indices outperformed the Sensex.
The Sensex rose 29.60 points, or 0.12% at the day's high of 24,646.57 in morning trade. The index fell 86.54 points, or 0.35% at the day's low of 24.530.43 in morning trade. The Nifty 50 index rose 7.55 points, or 0.10% at the day's high of 7,496.65 in morning trade. The index fell 25.15 points, or 0.34% at the day's low of 7,463.95 in morning trade.
In the overseas market, Japan's Nikkei 225 index bounced back after early losses today, 8 February 2016, as most major Asian markets remain closed for the Lunar New Year holidays. Markets in mainland China and Taiwan are closed all week. Other markets closed today include Hong Kong, South Korea, Malaysia, the Philippines, Vietnam and Singapore. Meanwhile, a rout in tech stockshighlighted by LinkedIn Corp.'s massive drop after the business-oriented social network delivered a poor outlookdrove US equities to their largest weekly drop in a month on Friday, 5 February 2016. Adding to negative sentiment was a jobs report that showed weaker-than-forecast growth in January. The US generated 151,000 nonfarm jobs in the first month of 2016, the Labor Department said. The unemployment rate fell a tick to 4.9% the lowest reading in eight years.
Most pharmaceutical stocks edged lower. Divi's Laboratories (down 2.64%), Aurobindo Pharma (down 2.43%), Strides Shasun (down 1.6%), Cipla (down 1.22%), IPCA Laboratories (down 0.96%), Wockhardt (down 0.81%), Lupin (down 0.64%), Sun Pharmaceutical Industries (down 0.32%) and GlaxoSmithKline Pharmaceuticals (down 0.13%), edged lower. Piramal Enterprises (up 0.01%), Glenmark Pharmaceuticals (up 0.83%), Alkem Laboratories (up 0.95%) and Cadila Healthcare (up 1.13%), edged higher.
Dr Reddy's Laboratories was down 0.47% at Rs 3,094.30 . The company announced before trading hours today, 8 February 2016, that its US subsidiary, Promius Pharma, LLC, U.S., has received approval for Sernivo (betamethasone dipropionate) Spray, 0.05% from the U.S. Food and Drug Administration (FDA). Semivo Spray, a prescription topical steroid, is indicated for the treatment of mild to moderate plaque psonasis in patients 18 years of age or older. The commercial launch of the product is planned for the coming quarter, the company said.
Realty shares were mixed. Oberoi Realty (up 1.31%), DLF (up 1.10%), Housing Development and Infrastructure (HDIL) (up 1%), Anant Raj (up 0.69%), Prestige Estates Projects (up 0.52%), Indiabulls Real Estate (up 0.38%), D B Realty (up 0.32%) and Mahindra Lifespace Developers (up 0.01%), edged higher. Parsvnath Developers (down 0.28%), Unitech (down 0.4%), Peninsula Land (down 0.56%), Phoenix Mills (down 0.9%), Sunteck Realty (down 1.22%), Godrej Properties (down 1.31%) and Sobha (down 4.75%), edged lower.
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