Divergent trend was witnessed in early afternoon trade as the BSE Sensex hit fresh intraday high, while the NSE Nifty continued hovering in positive terrain. At 12:16 IST, the barometer index, the S&P BSE Sensex, was up 99.66 points or 0.31% at 32,258.32. The Nifty 50 index was up 14.95 points or 0.15% at 10,108.
The Sensex hit its highest levels in more than five weeks in early afternoon trade. The Nifty hit its highest levels in more than six weeks in morning trade. The Sensex rose 113.63 points, or 0.35% at the day's high of 32,272.29 in early afternoon trade, its highest intraday level since 8 August 2017. The index fell 20.95 points, or 0.07% at the day's low of 32,137.71 in early trade. The Nifty rose 27.65 points, or 0.27% at the day's high of 10,120.70 in morning trade, its highest intraday level since 2 August 2017. The index fell 9 points, or 0.09% at the day's low of 10,084.05 in early trade.
Among secondary barometers, the BSE Mid-Cap index was up 0.33%. The BSE Small-Cap index was up 0.37%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,219 shares rose and 1,153 shares fell. A total of 169 shares were unchanged.
Realty shares were mixed. Parsvnath Developers (up 4.85%), Mahindra Lifespace Developers (up 2.49%), Godrej Properties (up 1.64%), Indiabulls Real Estate (up 1.33%), D B Realty (up 0.77%), Sunteck Realty (up 0.77%), Prestige Estates Projects (up 0.71%), DLF (up 0.13%), Phoenix Mills (up 0.05%) and Oberoi Realty (up 0.02%), edged higher. Anant Raj (down 0.16%), Sobha (down 0.19%), Unitech (down 0.4%), Omaxe (down 0.5%) and Peninsula Land (down 3.22%), edged lower.
Most pharmaceutical shares rose. Wockhardt (up 8.66%), Glenmark Pharmaceuticals (up 2.94%), Sun Pharmaceutical Industries (up 2.93%), Divi's Laboratories (up 2.44%), Strides Shasun (up 2.12%), Aurobindo Pharma (up 1.31%), Lupin (up 0.98%), Cadila Healthcare (up 0.85%) and Piramal Enterprises (up 0.54%), edged higher. GlaxoSmithKline Pharmaceuticals (down 0.18%), Cipla (down 0.25%), Alkem Laboratories (down 0.32%) and IPCA Laboratories (down 1.21%), edged lower.
Dr Reddy's Laboratories gained 1.89% after the company said that its wholly owned subsidiary has started phase II trials of cancer drug. The announcement was made after market hours yesterday, 12 September 2017.
Aurigene Discovery Technologies, a wholly owned subsidiary of Dr Reddy's Laboratories, and Curis Inc., announced CA-170 program update following data presented at ESMO 2017. They announced plans to initiate a phase 2 trial of CA-170, a PDL 1-VISTA inhibitor to be conducted at sites in India. The announcement was made following the presentation of preliminary data from the initial 34 patients with cancer treated in the dose escalation stage of phase 1 trial of CA-170 at the European Society for Medical Oncology 2017 Congress by Aurigene's collaborator and licensee of CA-170, Curis Inc., a biotechnology company focused on the development and commercialisation of innovative and effective therapeutics for the treatment of cancer. The trial has been conducted in the USA, South Korea and Spain.
Suprajit Engineering lost 3.57% after consolidated net profit fell 7.33% to Rs 22.61 crore on 26.83% growth in total income to Rs 353.60 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 13 September 2017.
Suprajit Engineering said there are continued challenges in readiness along with glitches with regard to GST at various levels which includes suppliers, customers, distributors, software providers, GST portal etc. It is expected that it may take 1-2 quarters to fully resolve these issues and business to return to normal, the company said in a statement.
On macro front, India's industrial production rose 1.2% in July 2017 over July 2016, while snapping 0.2% decline for June 2017. The growth for June 2017 has been revised downwards to -0.2% from -0.1% reported earlier. The data was unveiled after market hours yesterday, 12 September 2017.
The all-India general consumer price index (CPI)-based inflation accelerated to 3.36% in August 2017, compared with 2.36% in July 2017. The data was unveiled after market hours yesterday, 12 September 2017.
Overseas, most Asian stocks were trading lower. All three major US stock indexes booked all-time closing highs on Tuesday, 12 September 2017. It marks the first time all three benchmarks finished at records on the same day since 26 July 2017. The Dow Jones Industrial Average rose 61.49 points, or 0.3%, to finish at 22,118.86. The S&P 500 added 8.37 points, or 0.3%, to close at 2,496.48. The Nasdaq Composite Index finished up 22.02 points, or 0.3%, at 6,454.28.
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