A bout of volatility was witnessed as key benchmark indices languished in negative zone in mid-afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was off 85.78 points or 0.33% at 26,133.13. The 50-unit CNX Nifty was off 23.40 points or 0.29% at 7,958.50. The Sensex continued to trade above the psychological 26,000 mark. Earlier during the trading session, the Sensex reclaimed the psychological 26,000 mark after falling below that level in early trade.
In overseas markets, European stocks reversed initial losses. Asian stocks edged lower after the US Federal Reserve's decision last week to keep interest rates at record low raised fresh concerns about global economic growth. The US central bank cited concerns about the global economy and a lack of inflation growth in the United States as the reasons for its decision to leave interest rates at record low after the conclusion of a two-day monetary policy meeting on 17 September 2015.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,435 shares rose and 1065 shares fell. A total of 122 shares were unchanged. The BSE Mid-Cap index was up 0.18%. The BSE Small-Cap index was up 0.8%. Both these indices outperformed the Sensex.
Most realty shares edged higher. Parsvnath Developers (up 2.63%), Anant Raj (up 2%), Unitech (up 1.63%), Peninsula Land (up 1.61%), Prestige Estates Projects (up 1.14%), Housing Development and Infrastructure (HDIL) (up 1.02%), Phoenix Mills (up 0.77%), D B Realty (up 0.74%), Godrej Properties (up 0.28%), Sobha (up 0.16%) and Sunteck Realty (up 0.02%), edged higher. DLF (down 0.32%), Indiabulls Real Estate (down 0.62%) and Oberoi Realty (down 2.84%), edged lower.
IT stocks witnessed selling pressure. Hexaware Technologies (down 0.91%), Oracle Financial Services Software (down 0.77%), MphasiS (down 0.67%), HCL Technologies (down 0.56%), TCS (down 0.36%), Tech Mahindra (down 0.36%), Wipro (down 0.32%), Infosys (down 0.25%) and CMC (down 0.16%), edged lower. MindTree (up 0.11%) and Persistent Systems (up 0.32%) edged higher.
Vivimed Labs rose 2.11% after the company received a favourable outcome for its active pharmaceutical ingredients (API) manufacturing facility at Spain after inspection from the US Food and Drug Administration. Vivimed Labs said that the audit of active pharmaceutical ingredients (API) manufacturing facility of the company located in Llica de Vall, Spain by the US Food and Drug Administration (USFDA) was conducted during the second week of September and concluded on 18 September 2015. On completion of the inspection, the USFDA inspectors concluded that the facility, its systems and practices comply with USFDA requirements with no observations reported on the form 483. During the last one year, Vivimed has had a satisfactory outcome on the regulatory compliance front with all four of its USFDA approved manufacturing plants including Sant Celoni, Spain (May 2015), Alathur, India (February 2015), Cuemavaca, Mexico (September 2014) and now Llica de Vall, Spain.
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