Key benchmark indices hovered with small losses in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, fell 24.74 points or 0.07% at 33,318.06. The Nifty 50 index lost 4.45 points or 0.04% at 10,279.15. Key indices swung between gains and losses in a narrow range around the flat line so far. Mixed Asian cues failed to provide clear direction to the domestic bourses.
The S&P BSE Mid-Cap index rose 0.34%. The S&P BSE Small-Cap index advanced 0.63%. Both these indices outperformed the Sensex.
Overseas, Asian stocks were mixed after a retreat on Wall Street on Friday, 17 November 2017, amid tax reform uncertainty. Meanwhile, among macroeconomic data from major economies, Japan's export growth held steady in October. Ministry of Finance (MOF) data showed that exports rose 14% year-on-year in October.
US stocks finished the week on a subdued note on Friday, 17 November 2017, as worries over US tax reform and a delay of the promises cut in corporate taxation, weighed on investors' minds. The US House of Representatives passed their version of a tax overhaul bill that would cut corporate taxes last week, but the Senate continued to wrangle over its rival tax bill, with investors uncertain about whether Congress will be able to reach a compromise.
Closer home, the breadth, indicating the overall health of the market, was strong. On BSE, 1,532 shares rose and 989 shares declined. A total of 145 shares were unchanged.
Realty stocks nudged higher. Indiabulls Real Estate (up 1.84%), HDIL (up 1.25%), Sobha (up 1.17%), Oberoi Realty (up 1.1%), DLF (up 0.65%), Prestige Estates Projects (up 0.56%) and Godrej Properties (up 0.23%) gained. Unitech (down 0.96%) and D B Realty (down 0.14%) edged lower.
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Pharma stocks were mixed. Glenmark Pharmaceuticals (up 1.3%), Divi's Laboratories (up 1.07%) and Aurobindo Pharma (up 0.04%) edged higher. Alkem Laboratories (down 0.73%), Lupin (down 0.24%), Dr Reddy's Laboratories (down 0.25%) and Sun Pharmaceutical Industries (down 0.19%) declined.
Cipla declined 1.67%. The company announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Decitabine Injection 50 mg single-use sterile vial from the United States Food and Drug Administration (USFDA) to market generic version of Otsuka America Pharmaceutical Inc.'s Dacogen. It is indicated for treatment of patients with myelodysplastic syndromes (MDS). The product is available for shipping immediately. The announcement was made before market hours today, 20 November 2017.
Cadila Healthcare rose 0.67% after the company said that it received US drug regulator's final approval for Ethacrynate Sodium. The drug is used to decrease the swelling (edema) caused by various disease conditions such as liver disease, kidney disease, congestive heart failure, cancer etc. and will be produced at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The announcement was made on Saturday, 18 November 2017.
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