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Thursday, 27 November 2014

Sensex, Nifty rangebound; Brent crude slips to 4-year low

03:30pm Market Closing

The market closed with marginal gains on Thursday, the expiry day for November series derivative contracts. The 50-share NSE Nifty ended tad below the 8500-mark, up 18.45 points at 8494.20 while the Sensex rose 52.72 points to 28438.91.

The broader markets outperformed benchmarks throughout the session. The BSE Midcap and Smallcap indices gained 0.5 percent each. About 1585 shares advanced while 1364 shares declined on the Bombay Stock Exchange.

BHEL topped the buying list, up 5.73 percent followed by HUL, Tata Power, Cipla, Hindalco Industries, Punjab National Bank and HCL Technologies with 1.8-3 percent gain.

However, Bharti Airtel, Tata Steel, Sesa Sterlite, Larsen & Toubro, ONGC, DLF, Ambuja Cements and Grasim Industries fell 0.7-2.6 percent.

03:00pm SMS Pharma up 5%, Natco Pharma gains 7%

SMS Pharmaceuticals said the legal disputes between the company and Natco Pharma have been amicably settled.

"Out of the settlement, the company has received a sum of Rs 15.07 crore from Natco Pharma apart from the balance principal amount receivable from the respective courts.

02:45pm Cipla, Strides in News

Medicines for Malaria Venture (MMV) signed collaboration agreements with two Indian pharmaceutical companies, Cipla and Strides Arcolab for the development of rectal artesunate for pre-referral treatment of children with severe malaria.

The collaborations, established under the MMV-led "Improving Severe Malaria Outcomes" project funded by UNITAID1, aim to develop a rectal artesunate product for submission to WHO prequalification.

Cipla and Strides will each develop a product building on the clinical studies led by TDR, the Special Programme for Research and Training in Tropical Diseases led by the World Health Organization.

The goal is to achieve WHO-prequalification of a rectal artesunate product by 2016.

02:30pm Auto industry in focus

India may extend excise duty concessions for carmakers beyond December 31, a finance ministry source said today, as the industry continues to struggle with sluggish demand due to high interest rates.

"Car sales are down. The government could extend tax relief to the auto sector beyond December 31," the source said on condition of anonymity.

The excise duty concessions, which were granted in February this year, will lapse on Dec. 31, if not extended, reports Reuters.

02:00pm Market Check

The market continued to be rangebound with the Nifty moving in a 30 points trading range. Technology, healthcare and power stocks gained.

The 30-share BSE Sensex declined 17.24 points to 28368.95 and the 50-share NSE Nifty slipped 2.80 points to 8472.95. About 1456 shares have advanced, 1327 shares declined, and 126 shares are unchanged.
 
However, it has been a strong November series with the Nifty rising 3.8 percent and Bank Nifty up 7.3 percent for the series.

Krishna Kumar Karwa of Emkay Global told CNBC-TV18 that investors should regularly invest now and not time the market. "We could see some consolidation towards the year-end. However, there is atleast 2-3 years of structural improvement in the economy," he said.
                                         
It’s a mixed day for most Asian markets, Japan's Nikkei and Hong Kong's Hang Seng closed with losses of More information please visit this site www.bigprofitbuzz.com

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