Sensex mildly lower; Rupee trades around 70/USD
20 December 2018
Market at close: Benchmark indices erased most of its losses and ended near day's high with Nifty closed above 10,950 level.
At the close the Sensex was down 52.66 points or 0.14% at 36431.67, while Nifty was down 15.60 points or 0.14% at 10951.70. About 1218 shares have advanced, 1344 shares declined, and 167 shares are unchanged.
HDFC Bank, HDFC, Infosys, ITS and Kotak Mahindra Bank are the positive contributors to the Sensex.
Among the sectors, auto, infra, and pharma ended in green, while PSU bank, metal, energy, FMCG and IT index was down between 0.20 to 1 percent.
Mercator bags order: The company has emerged as the lowest bidder in its bid for maintenance dredging of 7.0 million CUM quantity for 3 years at Paradip Port vide tender floated by Paradip Port Trust. The contract value of this prestigious job is around Rs 167.61 crore which is expected to be completed over a period of 36 months.
Morgan Stanley on Biocon: Research house maintained overweight call with a target price of Rs 785 per share. Company received EU approval for Ogivri, Herceptin. The estimate Herceptin EU addressable market for biosimilars is USD 750 million.
Assuming 50-60 percent price drop and fair market share of 15-20 percent, expect sales potential to be USD 55-60 million over next two years, id added.
Market Update: Equity benchmarks have recovered sharply from their low points, with the Nifty inching towards 10,950.
The Sensex is down 71.08 points or 0.19% at 36413.25, and the Nifty down 24.30 points or 0.22% at 10943.00. The market breadth is narrow as 1173 shares advanced, against a decline of 1089 shares, while 150 shares were unchanged.
Alembic Pharma gains after USFDA inspection: Share price of Alembic Pharmaceuticals gained 4 percent after successful inspection by USFDA.
The United States Food and Drug Administration (USFDA) has conducted an inspection at company's API Facility located at Panelav from December 17 to 19, 2018.
BUZZING STOCK: Shares of J Kumar Infra have continued with their positive momentum, with the stock jumping 2 percent.
The stock touched an intraday high of Rs 144.55 and an intraday low of Rs 138.15.
The stock had risen on Wednesday after it won an order from National Highways Authority of India (NHAI) for construction of part of Dwarka Expressway.
Market opens: It’s a gap down start to the market on Thursday morning, with the Sensex taking a cut of 0.7 percent, while the Nifty has given up 10,900-mark.
All sectors are trading in the red, with maximum cuts visible among banks, automobiles, energy and metals, among others. The Nifty Midcap index is down around a percent.
The Sensex is down 259.49 points or 0.71% at 36224.84, while the Nifty is down 78.90 points or 0.72% at 10888.40. The market breadth is negative as 197 shares advanced, against a decline of 264 shares, while 32 shares were unchanged.
Sun Pharma, M&M, and Tech Mahindra are the top gainers, while Vedanta, NTPC, and Hindalco lost the most.
Market at pre-open: It’s a flat start for the market in pre-opening trade, with the Nifty holding 10,950-mark.
The Sensex is down 4.53 points or 0.01% at 36479.80, and the Nifty up 18.40 points or 0.17% at 10985.70.
The Indian rupee has opened at 70.68 per US dollar, a weaker opening compared to previous close of 70.40 per US dollar.
Wall Street ends lower: US stocks declined sharply on Wednesday after the Federal Reserve's forecast of fewer interest-rate increases in 2019 fell short of investors' hopes of a more dovish monetary policy.