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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