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Sensex, Nifty Bank and Nifty Midcap end at record highs; Maruti & Adani Ports up 4%

BSE Sensex ended the day 29,974.24, up 64.02 points after touching and intra day high of 30,007, while the NSE Nifty held above its 9,250-mark closing the day at 9,265.15, up 27.30 points.

BT Online   New Delhi     Last Updated: April 5, 2017  | 15:45 IST
Sensex, Nifty Bank and Nifty Midcap end at record highs; Maruti & Adani Ports up 4%

The benchmark indices ended the day with record closing highs led by Maruti Suzuki, Reliance Industries, Adani Ports and Bharti Airtel.

3.37 PM:

BSE Sensex ended the day 29,974.24, up 64.02 points after touching and intra day high of 30,007.

NSE Nifty held above its 9,250-mark closing the day at 9,265.15, up 27.30 points.

Nifty Bank and Nifty Midcap end at record closing highs.

IT stocks were under pressure after US tweaks H1B visa norms.

Shares of TCS and Infosys were down nearly 1 per cent.

2.35 PM:

Shares of Maruti surged 4.39 per cent on the BSE while Adani Ports gained 4.20 per cent.

1.43 PM:

Shankara Building debuts on the bourses at Rs 573, the stock is 20 per cent over IPO price.

The scrip is currently 36.10 per cent up on the BSE.

11.39 AM:

Sensex inches closer to its all-time high. The bourse was trading at 29,930.41, up 20.19 points.

NSE Nifty Index was trading at 9,250.25, up 12.40 points.

11.01 AM:

Realty stocks gain on the bourses.

Indiabulls Real is up 5.39 per cent, DB Realty is up 9.20 per cent, Ajmera Realty is up 3.46 per cent and Sobha is up 6.06 per cent.

10.53 AM:

BUZZING STOCK

Ratnamani metals bags a new order for supply for carbon steel welding pipelines worth $ 23 million. The new order is expected the complete in 12 months.

The stock of the company was up 4.07 per cent on the BSE.

9.39 AM:

NEWS TO WATCH OUT

GST

The upper house of the Parliament will take up the GST Bills today. The Lok Sabha on March 29 passed four key GST Bills, rejecting amendments moved by the opposition.

The landmark bill which will bring all indriect taxes under one bracket is scheduled to rollout on July 1, 2017.

RBI Monetary Policy meet

RBI's first bi-monthly Monetary Policy meet begins today and will end with a statement that will be released at 2.30 pm on April 6.
 
According to experts, RBI is unlikely to raise interest rates at this policy meet.

RBI Governor Urjit Patel in his last policy review on February 8 had kept the key interest rate on hold at 6.25 per cent.

9.26 AM:

The Indian rupee opened marginally lower at 65.07 per dollar against Monday's closing value of 65.02.

9.23 AM:

Cipla is one of the top gainers on BSE adding 1.36 per cent to the bourses after it recevied an approval from US FDA for its generic drug used for treatment of HIV infection.

On the broader Nifty index, Hindalco assumed the position of the top gainer adding 1.71 per cent to the bourse.

However, HDFC was the major laggard on both the indices.

9.18 AM:

The Indian benchmark indices opened flat with a negative bias on Wednesday's trade.

The S&P BSE Sensex was trading at 29,822.72, down 87.50 points while the Nifty50 was trading at 9,219.55, down 18.30 points.

9.12 AM:

EXPERT TAKE

"We expect the index to extend this rally towards 9400 - 9600 (price extension of previous up move from recent low of 7893.80) over the next few weeks. Traders should continue with stock specific approach with a positive bias in order to fetch higher returns. The immediate support now would be seen at 9200 - 9160 levels," said Angel Broking in a report.

9.07 AM:

BUZZING STOCKS

Tata Motors and Reliance gain over 1 per cent each in pre opening session.

9.05 AM:

PHARMA STOCKS

CIPLA

Yesterday, Cipla received approval from the US health regulator for its generic Abacavir and Lamivudine tablets used for treatment of human immunodeficiency virus (HIV) infection.

The company "has received final approval for its abbreviated new drug application (ANDA) for Abacavir and Lamivudine tablets USP 600 mg/300 mg from the United States Food and Drug Administration (USFDA)", Cipla said in a filing to BSE.

The product is generic version of ViiV Healthcare Company's Epzicom tablets in the same strengths, it added.

The tablets are indicated in combination with other antiretroviral agents for the treatment of HIV-1 infection, Cipla said.

"Epzicom tablets had US sales of approximately USD 346.3 million for the 12 month period ending February 2017, according to IMS Health", it added.

The product will cater to the US market and will be commercially available shortly, Cipla said.

Cipla's portfolio currently includes over 1,000 products across wide range of therapeutic categories.

Dr Reddy's Laboratories

The drug maker on Tuesday said the US health regulator has issued two observations after inspection of its manufacturing plant at Srikakulam.

"The audit of our API manufacturing plant at Srikakulam, Andhra Pradesh by the United States Food and Drug Administration (USFDA), has been completed today," Dr Reddy's Laboratories said in a filing to the BSE.

The company has been issued a Form 483 with two observations, "which we are addressing", it added.

Dr Reddy's Laboratories, however, did not disclose details about the observations.

As per the USFDA, a "FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts".

It notifies the company's management of objectionable conditions.

8.45 AM:

Asian stocks open on a positive note on Wednesday but investors remained cautious ahead of US president Donald Trump and Chinese President Xi Jinping's crucial meeting later in the week.

 

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