In the broader market, the S&P BSE Mid-Cap index slipped 0.38% while the S&P BSE Small-Cap index was up 0.03%.
The market breadth was positive. On the BSE, 1421 shares rose and 1214 shares fell. A total of 152 shares were unchanged.
Numbers to Track:
The yield on 10-year benchmark federal paper rose to 5.884% compared with previous closing of 5.903% in the previous trading session.
In the foreign exchange market, the partially convertible rupee edged higher to 74.83 compared with its previous closing 74.78.
In the commodities market, Brent crude for October 2020 settlement gained 46 cents to $44.96 a barrel. The contract fell 1.08% or 49 cents to end at $44.50 in the previous trading session.
MCX Gold futures for 5 October 2020 settlement rose 0.14% to Rs 52,004.
Buzzing Index :
The Nifty Pharma index slipped 1.94%. The index has fallen 3.3% in two sessions while the benchmark Nifty 50 index rose 0.3% during the same period.
Biocon (down 3.18%), Cadila Healthcare (down 2.74%), Cipla (down 2.28%), Dr. Reddy's Labs (down 2.17%) and Divi's Labs (down 1.88%) were the top index losers.
Stocks in Spotlight:
Sundram Fasteners rose 3.02% to Rs 435.40. The TVS Group company reported a consolidated net loss of Rs 26.70 crore in Q1 June 2020 as against a net profit of Rs 95.52 crore in Q1 June 2019. Net sales tumbled 68.1% year-on-year (YoY) to Rs 362.76 crore in the first quarter. Earnings before depreciation and taxes (EBDT) for the quarter ended 30 June 2020 slumped 93.2% to Rs 12.35 crore from Rs 182.87 crore during the same period in the previous year.
MPS hit an upper circuit of 5% at Rs 410.15. The company is planning to buyback upto 5.66 lakh equity shares (representing 3.04% equity) at Rs 600 per equity share for an aggregate amount not exceeding Rs 34 crore. As on 30 June 2020, promoter held 67.77% stake in the company.
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