Volatility struck bourses in early trade as the key benchmark indices extended fall after staging a recovery after an initial decline. The barometer index, the S&P BSE Sensex, briefly regained positive zone. The S&P BSE Sensex was currently down 21.14 points or 0.08% at 27,298.71. The market breadth indicating the overall health of the market was strong with over two gainers for every loser. Cipla rose after the company announced the commercial collaboration with UK-based S&D Pharma in the Czech Republic and Slovakia.
At 9:28 IST, the S&P BSE Sensex was down 21.14 points or 0.08% at 27,298.71. The index rose 8.23 points at the day's high of 27,328.08 in early trade. The index fell 59.50 points at the day's low of 27,260.35 in early trade.
The CNX Nifty was down 4.30 points or 0.05% at 8,169.60. The index hit a high of 8,174.55 in intraday trade. The index hit a low of 8,153.65 in intraday trade.
The market breadth indicating the overall health of the market was strong with over two gainers for every loser. On BSE, 1,059 shares gained and 525 shares fell. A total of 57 shares were unchanged.
The BSE Mid-Cap index rose 30.98 points or 0.32% to 9,824.65. The BSE Small-Cap index rose 39.62 points or 0.37% to 10,891.45. Both these indices outperformed the Sensex.
The total turnover on BSE amounted to Rs 259 crore by 09:30 IST.
Among the 30-share Sensex pack, 19 stocks declined and rest of them gained.
Hindalco Industries (down 1.08%), Infosys (down 0.88%) and Sesa Sterlite (down 0.76%) edged lower from the Sensex pack.
Cipla gained 1.58% to Rs 572.25. Cipla after market hours on Monday, 8 September 2014, announced the commercial collaboration with UK-based S&D Pharma in the Czech Republic and Slovakia. This collaboration will enable Cipla to focus on its core therapy areas, while S&D Pharma will be the key partner for generics, the company said. Under the collaboration, Cipla will be driving its respiratory product portfolio in both Czech Republic and Slovakia through a Cipla owned sales force team, managed by Cipla commercial head. S&D Pharma will physically distribute all products, including respiratory products, and this portfolio will increase over the next few years, Cipla said.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 1162.98 crore on Monday, 8 September 2014, as per provisional data from the stock exchanges.
Prime Minister Narendra Modi will reportedly meet with US President Barack Obama in Washington on 29-30 September 2014 to discuss ways to accelerate economic growth and increase security cooperation. The two leaders will discuss a range of issues of mutual interest in order to expand and deepen the US-India strategic partnership, the report added.
Most Asian stocks were trading higher today, 9 September 2014. Key benchmark indices in Singapore, Japan and Taiwan rose by 0.17% to 0.45%. Key benchmark indices in China and Indonesia fell 0.12% to 0.61%. Markets in Hong Kong and South Korea are closed for a holiday.
US markets edged lower on Monday, 8 September 2014 as declining oil prices sent shares of energy companies lower.
The European Union on Monday, 8 September 2014 reportedly agreed on new sanctions against Russia over its alleged role in the Ukrainian conflict, but will wait a few days before implementing them in view of the current ceasefire in eastern Ukraine. The EU sanctions are to extend measures already imposed on Moscow in July for its alleged role in supporting and fomenting a months-long insurgency by pro-Russian separatists in eastern Ukraine that has killed thousands of people. They will target more individuals with travel bans and asset freezes, as well as tightening access to capital markets for Russian oil and defense companies, the report added.
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