Key benchmark indices were hovering in a narrow range in early afternoon trade. At 12:19 IST, the barometer index, the S&P BSE Sensex, was up 116.08 points or 0.35% at 33,273.30. The Nifty 50 index was up 46.80 points or 0.45% at 10,369.85. Most pharmaceutical shares rose. IT shares were mixed.
The Sensex and the Nifty, both, hit their record high levels in morning trade. The Sensex rose 174.84 points, or 0.53% at the day's high of 33,332.06 in morning trade, its record high level. The index rose 49.71 points, or 0.15% at the day's low of 33,206.93 at the onset of trading session. The Nifty rose 60.75 points, or 0.59% at the day's high of 10,383.80 in morning trade, its record high level. The index rose 21.25 points, or 0.21% at the day's low of 10,344.30 at the onset of trading session.
Among secondary barometers, the BSE Mid-Cap index was up 1.16%. The BSE Small-Cap index was up 1.19%. Both these indices outperformed the Sensex.
The broad market depicted strength. There were two gainers against every loser on BSE. 1,686 shares rose and 841 shares fell. A total of 130 shares were unchanged.
Most pharmaceutical shares rose. IPCA Laboratories (up 1.84%), Wockhardt (up 1.43%), Piramal Enterprises (up 1.34%), Dr Reddy's Laboratories (up 1.30%), GlaxoSmithKline Pharmaceuticals (up 0.95%), Sun Pharmaceutical Industries (up 0.39%), Divi's Laboratories (up 0.34%), Aurobindo Pharma (up 0.30%), Cadila Healthcare (up 0.26%), Glenmark Pharmaceuticals (up 0.25%), Cipla (up 0.11%) and Lupin (up 0.07%), edged higher. Strides Shasun (down 0.11%) and Alkem Laboratories (down 0.5%), edged lower.
IT shares were mixed. Hexaware Technologies (up 1.62%), MindTree (up 1.62%), Tech Mahindra (up 1.23%), MphasiS (up 0.50%) and Persistent Systems (up 0.33%), edged higher. Infosys (down 0.26%), Oracle Financial Services Software (down 0.5%), HCL Technologies (down 0.7%) and Wipro (down 0.91%), edged lower.
IT major TCS was up 1.16%. The company announced the successful implementation of a large-scale and industry-first transformation project to migrate Malaysia Airlines' datacenter to a 100% hybrid-cloud model. In the latest evolution of a multi-year partnership, Malaysia Airlines selected TCS to lead the airline's largest ever IT transformation project. To better enable a competitive-edge and future readiness for the airline, TCS orchestrated the massive and complex project to migrate the airline's core mission-critical datacenter infrastructure and myriad applications to a hybrid-cloud model operating 80% on Microsoft Azure and 20% on a private cloud. The pioneering move makes Malaysia Airlines the world's first full-service airline to completely replace its existing data centres and adopt full-scale cloud solutions for its entire range of nearly 200 applications running mission critical commercial, operations and corporate systems. The announcement was made during trading hours today, 30 October 2017.
Cadila Healthcare was up 0.68% to Rs 494.75. The company announced that it has received the final approval from the US Food and Drug Administration (USFDA) to market Clobetasol Propionate Ointment USP, 0.05%. The drug is indicated to treat variety of skin conditions (e.g., eczema, dermatitis, allergies, rash). It will be manufactured at the group's Topical manufacturing facility at Ahmedabad. The group now has more than 165 approvals and has so far filed over 300 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in FY 2003-2004. The announcement was made during trading hours today, 30 October 2017.
Jayant Agro-Organics tumbled 5.76% after consolidated net profit fell 6.2% to Rs 15 crore on 58.2% growth in net sales to Rs 609.53 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 28 October 2017.
Jindal Worldwide gained 1.53% after the company said that its board of directors approved 2 for 1 stock split. The announcement was made on Saturday, 28 October 2017.
Overseas, Asian stocks were trading on a mixed note as investors awaited an announcement on who will helm the US Federal Reserve.
In the US, the S&P 500 and Nasdaq Composite closed at records on Friday, 27 October 2017, fueled by large gains in technology shares following better-than-expected quarterly results from heavyweights Amazon.com Inc., Microsoft Corp., Alphabet Inc. and Intel Corp. Equities were also buoyed by data showing the US economy expanded at a solid 3% annual pace for a second straight quarter despite damages from two hurricanes, while the University of Michigan reported consumer sentiment in October was the strongest it has seen in 13 years. The S&P 500 gained 0.8%, the Dow Jones Industrial Average rose 0.1% and the Nasdaq Composite Index meanwhile, advanced 2.2%.
According to reports, US President Donald Trump will interview Janet Yellen Thursday, 2 November 2017, about potentially staying on as chair of the Federal Reserve after her first term ends in February. Yellen was appointed to the fed by former President Barack Obama in 2014. She is the first female head of the institution, which sets the country's monetary policy and regulates its major banks.
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