Monday, December 23, 2024 | 01:19 PM ISTEN Hindi

MARKET WRAP: Sensex ends 353 pts higher; metals shine, pharma stocks slip

Nifty metal was the top gainer, up over 2 per cent, followed by Nifty public sector bank index, up over 1 per cent.

SI Reporter New Delhi

MARKET WRAP: Sensex ends 353 pts higher; metals shine, pharma stocks slip

12:36 PM

NEWS ALERT | Kora management to invest another Rs 350 cr in Edelweiss Group, says Edelweiss Fin

-- To raise up to $200 million in advisory business

-- Kora first investor with $75 million

(As reported by CNBC TV18)

12:34 PM

MARKET CHECK | India VIX declines 6%

12:19 PM

NEWS ALERT | Linde India to sell south region investment biz to Air Water India on slump sale basis: CNBC TV18

12:03 PM

NEWS ALERT | July WPI inflation at 1.08% vs 2.02% (MoM)

-- July's WPI inflation lowest in 25 months

-- Fuel & Power inflation at -3.64%

-- Manufactured products inflation at 0.34%

-- Non-food articles inflation at 4.29%

-- Vegetable inflation at 10.67%

-- Wholesale eggs, meat, and fish inflation at 3.16%

-- Pulses inflation at 20.08%

-- Onion inflation at 7.63%

12:02 PM

Neuland Labs surges 10%

11:51 AM

Nifty Pharma index hits 5-year low; Glenmark at 7-year low post Q1 results

Shares of pharmaceutical companies were under pressure during the morning trade on Wednesday with Nifty Pharma index hitting a 5-year low of 7,550, down nearly 4 per cent on the NSE. The pharma index fell below its previous low of 7,602 touched on June 6, 2014. Among individual stocks, Glenmark Pharmaceuticals plunged 9 per cent intra-day to Rs 380 apiece, hitting an over 7-year low after its June quarter result missed analysts' expectations. READ MORE

Growth in the US market was the reason for the overall revenue rise of many companies

11:47 AM

Moody's says Reliance's 20% stake sale to Saudi Aramco credit positive

Moody's Investors Service on Wednesday said Reliance Industries' announcement of sale of a 20 per cent stake in its oil to chemicals (O2C) business to Saudi Arabian Oil Company (Aramco) will reduce the company's net leverage and is credit positive.

"The O2C business, which has an enterprise valuation of $75 billion, includes RIL's refining and petrochemical divisions, and RIL's 51 per cent stake in its fuel marketing business," Moody's said in a report. READ MORE

11:35 AM

NMDC, Tata Steel, Vedanta: What does tech chart indicate for metal stocks?

NMDC Ltd (NMDC): It is the only stock trading above its 200-DMA placed at Rs 99 with a positive sentiment. As the Golden Cross suggests an upside, one can stay bullish till the counter trades above the average. The 100-DMA is placed at Rs 105.50, which is acting as an immediate resistance. All major technical indicators relative strength index (RSI) and moving average convergence divergence (MACD) are trading in negative crossovers, a sign of weak strength. READ MORE

Asia to dominate global stock markets, IPO over the next few decades

11:22 AM

Vedanta gains 4%, top gainer on the S&P BSE Sensex

11:21 AM

NEWS ALERT | Government's FY18 outstanding liabilities understated by Rs 7.1 lakh crore: CAG to Finance Commission

-- Liabilities of FCI, PFC, NHAI, and IFRC, NABARD, OMCs understated

-- FY18 liabilities at Rs 84.93 lakh crore; 49.6% of GDP

(As reported by CNBC TV18, quoting unnamed sources)

11:10 AM

Pharma stocks trade under pressure

COMPANY	LATEST(rs)	CHG(rs)	CHG(%)	VOLUME
SUN PHARMA.INDS.	412.50	-25.05	-5.73	522805
GLENMARK PHARMA.	383.35	-33.65	-8.07	111319
AUROBINDO PHARMA	590.25	-12.65	-2.10	55262
CIPLA	475.25	-0.15	-0.03	46971
LUPIN	729.00	-19.25	-2.57	45745

» More

10:56 AM

EXPERT TAKE | Benign inflation continues to provide some more space for MPC: Kotak Securities

CPI inflation in July remained well below the RBI’s target of 4%. Even though core inflation surprised on the upside, it is unlikely to sustain this momentum on the back of weak growth impulses. In this context, MPC’s acknowledgement to consider growth as the highest priority strengthens our belief of another 25-50 bps cut through the rest of FY2020. Impact of skewed rainfall distribution and geopolitical developments remain key risks.

10:53 AM

Dr Reddy's Labs slumps 8% as US FDA issues CRL for its version of NuvaRing

Shares of Dr. Reddy's Laboratories Limited cracked 8 per cent on the BSE in Wednesday's early morning trade on reports that the company has received a Complete Response Letter (CRL) from the US Food and Drug Administration for its generic version of contraceptive NuvaRing. According to a CNBC report, brokerage firm Citi believes that the NuvaRing launch is unlikely to happen before mid CY20. READ MORE