Key benchmark indices extended gains in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was up 199.24 points or 0.78% at 25,809.77. The gain in the BSE Sensex was higher than that of the Nifty 50 index in percentage terms. The Nifty 50 index was up 52.85 points or 0.68% at 7,815.10.
The Sensex rose 202.07 points or 0.79% at the day's high of 25,812.60 in mid-afternoon trade. The Nifty rose 61.90 points or 0.80% at the day's high of 7,824.15 in mid-afternoon trade. The Sensex fell 159.11 points or 0.62% at the day's low of 25,451.42 in the morning trade, its lowest level since 29 September 2015. The Nifty fell 48.10 points or 0.61% at the day's low of 7,714.15 in the morning trade, its lowest level since 29 September 2015.
Meanwhile, latest data released by the government showed that the annual rate of inflation, based on monthly wholesale price index (WPI) stood at minus 3.81% for the month of October 2015 as compared to minus 4.54% for the previous month and 1.66% during the corresponding month of the previous year.
In overseas stock markets, European market declined after Paris suffered the worst terror attacks in Europe's history in more than a decade. Asian markets declined today, 16 November 2015, after terror attacks in Paris unnerved investors and data showed Japan entered a recession for the second time in two years. Selling hit Wall Street for a third straight day on Friday, 13 November 2015, amid a selloff in retail stocks, capping the worst week for the major averages since August.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,323 shares rose and 1,201 shares fell. A total of 154 shares were unchanged. The BSE Mid-Cap index was up 0.29%. The BSE Small-Cap index was up 0.49%. Both these indices underperformed the Sensex.
Capital goods shares were mixed. Bharat Electronics (up 2.14%), Larsen & Toubro (up 1.79%), Crompton Greaves (up 1.60%), Bharat Heavy Electricals (up 0.98%), Thermax (up 0.80%), Pipavav Defence and Offshore Engineering Company (up 0.75%), ALSTOM India (up 0.48%), Havells India (up 0.31%) and AIA Engineering (up 0.18%), edged higher. SKF India (down 0.17%), BEML (down 0.22%), Suzlon Energy (down 0.22%), ABB India (down 0.24%), Jindal Saw (down 0.62%), Siemens (down 0.67%), Lakshmi Machine Works (down 1.42%), Alstom T&D India (down 1.59%) and Praj Industries (down 1.65%), edged lower.
IT shares were mixed. HCL Technologies (down 0.74%), Tech Mahindra (down 1%), TCS (down 1.13%), Infosys (down 1.15%), MindTree (down 1.82%) and Hexaware Technologies (down 3.57%), edged lower. MphasiS (up 6.44%), Oracle Financial Services Software (up 1.34%), Wipro (up 0.38%), Persistent Systems (up 0.35%) and CMC (up 0.03%), edged higher.
Shasun Pharmaceuticals rose 1.43% after the company announced that it has received approval from the United States Food & Drug Administration for Carisoprodol Tablets 250 mg and 350 mg. The company made announcement during market hours today, 16 November 2015. Shasun Pharmaceuticals said Carisoprodol Tablets 250 mg and 350 mg has annual sales of approximately $38 million in the US. While, the 350 mg has few generic players, Shasun expects to be the first marketed generic player in the $16 million Carisoprodol Tablets 250 mg opportunity. Carisoprodol is a muscle relaxer. The product will be manufactured at the company's Pondicherry facility and distributed in the US through a partner. The product is expected to be launched shortly.
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