Key indices are trading higher in early trade on buying demand in index pivotals. At 9:21 IST, the barometer index, the S&P BSE Sensex, was up 155.86 points or 0.39% at 40,512.55. The Nifty 50 index was up 42.80 points or 0.36% at 11,938.25. Most Asian stocks are trading higher.
The S&P BSE Mid-Cap index was up 0.38%. The S&P BSE Small-Cap index was up 0.3%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 780 shares rose and 369 shares fell. A total of 55 shares were unchanged.
Meanwhile, the Winter Session of the Parliament begins today, 18 November 2019. Many key bills are scheduled to be tabled in the Winter Session of the Parliament. The Winter Session is scheduled to go on till 13 December 2019.
Among stocks, shares of Cadila Healthcare gained 1.94%. Zydus Cadila has received the tentative approval from the USFDA to market Apremilast Tablets (US RLD Otezla) 10 mg, 20 mg, and 30 mg. This medication is used to treat a certain type of arthritis (psoriatic arthritis) and a certain type of skin condition (moderate to severe plaque psoriasis). t is also used to treat mouth sores in people who have Behcet's disease, a type of inflammatory disorder and helps to reduce the pain and improve the healing of these mouth sores.
Unichem Laboratories advanced 3.7%. Unichem Laboratories announced that it has received ANDA approval for its Buspirone Hydrochloride Tablets USP, 5 mg, 10 mg, 15 mg, and 30 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Bristol-Myers Squibb Company (BMS), Buspar Tablets, 5 mg, 10 mg, 15 mg, and 30 mg.
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Tata Motors rose 1.13%. Tata Motors said that the board approved committee has approved allotment of 5000 Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures (NCDs) E28-A Series of face value Rs 10 lakh each, at par, aggregating to Rs 500 crore in three tranches, on private placement basis.
Hinduja Global Solutions gained 4.89%. Hinduja Global Solutions said that Hinduja Global Solutions UK, a subsidiary of the company which holds 57% equity interest in Element Solutions LLC, USA has, acquired an additional 14.33% equity interest in the Element Solutions LLC, USA in accordance with the purchase agreement entered on 29 March 2018.
HIL surged 4.12%. HIL said the company has added additional capacities and commenced the production of its CpVC, UpVC and 'SWR (Soil, Waste & Rain) Pipes at its plant located at Thimmapur, Telangana.
Overseas, most Asian stocks were trading higher on Monday as investors awaited real evidence on progress in the U.S.-China trade dispute.
U.S. stocks closed at fresh record highs on Friday on revived hopes for a U.S. - China trade deal. The Dow hit 28,000 for the first time.
The first phase of an agreement that may have as many as three phases will be relatively limited in scope, with the major focus being on current trade and whether China is willing to commit to $40 billion to $50 billion of agriculture purchases, Commerce Secretary Wilbur Ross reportedly said on Friday.
In economic data, U.S. retail sales growth rebounded in October, rising 0.3% after a 0.3% decline in September. But U.S. industrial output fell by the most in 17 months in October, down 0.8%.
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