Key benchmark indices cut losses after an initial slide triggered by negative Asian stocks. At 9:26 IST, the barometer index, the S&P BSE Sensex, was off 12.37 points or 0.04% at 25,806.97. The Nifty 50 index was off 7.05 points or 0.09% at 7,842.20.
The market breadth indicating the overall health of the market was strong. On BSE, 949 shares rose and 411 shares fell. A total of 74 shares were unchanged. The BSE Mid-Cap index was up 0.37%. The BSE Small-Cap index was up 0.47%. Both these indices outperformed the Sensex.
In overseas markets, Asian markets were trading lower after a healthcare mega-merger between Pfizer and Allergan failed to impress investors and amid heightened expectations that the US Federal Reserve might raise interest rates next month. US markets closed marginally lower yesterday, 23 November 2015 as Pfizer's plan to buy Allergan plc in a $160 billion deal quickly drew criticism from politicians as a tax dodge.
Hero MotoCorp (up 1.01%), Bajaj Auto (up 0.73%) and Coal India (up 0.59%) edged higher from the Sensex pack.
Infosys fell 0.65%. Infosys announced after market hours yesterday, 23 November 2015, that its product subsidiary, Infosys Finacle, launched a new offering 'Finacle as a managed service on Oracle Cloud'. This offering will enable banks globally to leverage Finacle's industry-leading solution suite, along with other enterprise-class applications hosted on premise or in an external environment, to gain agility and cost efficiencies, Infosys said in a statement. With this offering, Finacle becomes one of the first comprehensive banking platforms to be available as a managed service on Oracle Compute Cloud, Infosys said.
Sun Pharmaceutical Industries (Sun Pharma) slipped 0.46%. Sun Pharma after market hours yesterday, 23 November 2015 said that it has made payment of interest on and redemption amount pertaining to 5,000 secured rated redeemable non-convertible debentures (NCD) of the face value of Rs 10 lakh each aggregating to Rs 500 crore (listed on National Stock Exchange of India), on 23 November 2015 to the NCD holders of the company whose names stand registered on the Register of beneficial owners maintained by depositories in respect of the NCDs held in electronic form on 10 November 2015.
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