Key benchmark indices turned range bound in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 84.07 points or 0.24% at 34,415.75. The Nifty 50 index was up 32.45 points or 0.31% at 10,558.65. Positive global stocks boosted sentiment on the domestic bourses.
Key indices resumed uptrend after taking a one-day pause yesterday, 18 April 2018, on positive Asian stocks. Indices hovered in near day's high in morning trade. Indices were range bound in afternoon trade.
The S&P BSE Mid-Cap index was up 0.53%. The S&P BSE Small-Cap index was up 0.46%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,336 shares rose and 1,149 shares fell. A total of 155 shares were unchanged.
Pharmaceutical shares were mixed. Divi's Laboratories (up 1.02%), Piramal Enterprises (up 0.85%), Dr Reddy's Laboratories (up 0.54%), GlaxoSmithKline Pharmaceuticals (up 0.45%), Glenmark Pharmaceuticals (up 0.34%), Alkem Laboratories (up 0.29%) and Cipla (up 0.20%), edged higher. Wockhardt (down 0.01%), Lupin (down 0.17%), Aurobindo Pharma (down 0.34%), Cadila Healthcare (down 0.65%), Strides Shasun (down 0.7%) and IPCA Laboratories (down 1.65%), edged lower.
Sun Pharmaceutical Industries fell 0.52%. Sun Pharmaceutical Industries said that one of the wholly-owned subsidiaries has increased its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of further purchase of 394,404 shares of face value of MYR 1 each (equivalent to 4.93%) of Ranbaxy Malaysia Sdn Bhd. The announcement was made after market hours yesterday, 18 April 2018.
Ranbaxy Malaysia Sdn Bhd., is a subsidiary of the company, and the total shareholding of Sun Pharmaceutical Industries, alongwith its wholly owned subsidiary is 90.74%, prior to this purchase of shares. Post completion of this purchase of shares, the total holding of the company along with its wholly owned subsidiary will increase to 95.67% in Ranbaxy Malaysia Sdn Bhd.
Power generation stocks were mixed. Jaiprakash Power Ventures (down 0.9%), Adani Power (down 0.78%), Tata Power (down 0.51%), NTPC (down 0.34%), GMR Infrastructure (down 0.25%) and NHPC (down 0.18%), edged lower. CESC (up 0.18%), Torrent Power (up 0.21%), Reliance Power (up 0.51%), Reliance Infrastructure (up 0.57%) and JSW Energy (up 1.12%), edged higher.
State-run Power Grid Corporation of India was up 0.83%. State-run Coal India was down 0.82%.
Overseas, most European shares rose as soaring oil prices triggered a broader rally across commodities. Asian stocks rose, building on gains a day earlier, with oil prices at 3-year highs helping to boost sentiment for the region's equities.
In US, the Dow industrials ended lower yesterday, 18 April 2018 as IBM's shares got walloped; however, gains in shares of energy-related firms helped the broader market post modest gains. Wall Street showed a muted reaction to the release of the Beige Book report, which underscored that economic activity remained at a modest to moderate pace in March and early April.
The Fed's Beige Book showed that economic activity remained at a modest to moderate pace, though nine of the 12 regional banks expressed concerns about trade tariffs, centered on the tit-for-tat spat between Beijing and Washington.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
