Key benchmark indices settled with tiny gains after a rangebound and lackluster session of trade amid mostly lower global stocks. The barometer index, the S&P BSE Sensex, rose 17.10 points or 0.05% at 33,359.90, as per the provisional closing data. The Nifty 50 index gained 14.35 points or 0.14% at 10,297.95, as per the provisional closing data. Key indices swung between gains and losses in a narrow range around the flat line throughout the session. Market gained for the third straight day.
The Sensex gained 106.73 points or 0.32% at the day's high of 33,449.53 in morning trade. The index fell 54.59 points or 0.16% at the day's low of 33,288.21 in afternoon trade. The Nifty gained 26.25 points or 0.26% at the day's high of 10,309.85 in morning trade. The index fell 22.10 points or 0.21% at the day's low of 10,261.50 in afternoon trade, its lowest level since 16 November 2017.
The S&P BSE Mid-Cap index provisionally rose 0.63%. The S&P BSE Small-Cap index provisionally advanced 0.81%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was strong. On BSE, 1,623 shares rose and 1,028 shares declined. A total of 195 shares were unchanged.
The total turnover on BSE amounted to Rs 3559.37 crore, lower than turnover of Rs 4675.89 crore registered during the previous trading session.
Realty stocks jumped. D B Realty (up 0.98%), Indiabulls Real Estate (up 7.81%), HDIL (up 0.23%), Sobha (up 0.12%), Oberoi Realty (up 3.19%), DLF (up 1.61%), Prestige Estates Projects (up 0.72%) and Godrej Properties (up 1.41%) gained. Unitech declined 0.16%.
Navkar Corporation rose 4.2% to Rs 188.55 after a bulk deal of 5.01 lakh shares was executed on the scrip at Rs 190 per share at 11:57 IST on BSE.
Glenmark Pharmaceuticals rose 1.4% after the company said that Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for HAILEYTM 24 Fe (Norethindrone Acetate and Ethinyl Estradiol Tablets, USP and Ferrous Fumarate Tablets), 1 mg/20 mcg, the generic version of Loestrin 1 24 Fe Tablets, of Allergan Pharmaceuticals International.
According to IQVIATM sales data for the 12 month period ended September 2017, the Loestrin 1 24 Fe Tablets market achieved annual sales of approximately $96.7 million. The announcement was made before market hours today, 20 November 2017.
Mangalam Drugs & Organics rose 2.23% after net profit rose 3% to Rs 6.69 crore on 8.78% increase in revenue from operations to Rs 83.14 crore in Q2 September 2017 over Q2 September 2016. The result was announced during trading hours today, 20 November 2017.
Overseas, most European stocks edged lower and 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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
