Friday, 20 April 2018

The Market Remained Under Selling Pressure Due To Global Weakness

The market remained under selling pressure due to global weakness, but the sharp rally in technology stocks post TCS Q4 results and weak rupee capped the losses of benchmark indices.

TCS shares rallied 6.5 percent to hit a record high, adding nearly Rs 40,000 crore to total market capitalisation of Rs 6.5 lakh crore.

The IT is the only index in the green, rising 3.5 percent while other all sectoral indices are in the red.

The 30-share BSE Sensex was down 73.82 points at 34,353.47 and the 50-share NSE Nifty fell 30.90 points to 10,534.40. About 1,343 shares declined against 935 advancing shares on the BSE.

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Glenmark Pharmaceuticals Has Received Final Approval From The US Health

Glenmark Pharmaceuticals has received final approval from the US health regulator for a generic version of Temovate Topical Solution used to treat certain scalp and skin conditions.

Glenmark Pharmaceuticals USA has been granted final approval by the US Food and Drug Administration for Clobetasol Propionate Topical Solution USP, 0.05%, the company said in a BSE filing.

The approved product is the generic version of Temovate Topical Solution.

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Thursday, 19 April 2018

The S&P 500 Eked Out A Small Gain While The Dow Declined After A Volatile Trading

The S&P 500 eked out a small gain while the Dow declined after a volatile trading session on Wednesday, with weakness in sectors such as consumer staples and financials offsetting strong gains in the energy and industrial indexes, Reuters reported.

Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.

Oil prices trading close to highs touched in the previous day that were last seen in late 2014, buoyed as US crude inventories declined and as top exporter, Saudi Arabia is expected to keep withholding supply to prop up the market, Reuters reported.

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Mindtree Share Price Gained 3 Percent After The Company Reported A 28.8 Percent

Mindtree share price gained 3 percent after the company reported a 28.8 percent sequential growth in profit at Rs 182.2 crore and6.3 percent in revenue at Rs 1,464 crore for the quarter ended March 2018.

The market traded higher despite the sharp upmove in crude oil prices, following positive lead from global peers. Investors closely monitor March quarter earnings to get further market direction.

The Sensex was up around 100 points and the Nifty was gradually inching towards 10,600 levels.

All sectoral indices were in the green, with the Nifty Metal index rising more than 2 percent while Media index continued its upmove, up another 1 percent.

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Wednesday, 18 April 2018

Maruti Suzuki India Said It Attained Leadership Position In Utility Vehicles Sales

Maruti Suzuki India said it attained leadership position in utility vehicles sales in the domestic market in 2017-18, with over 27.5 percent market share.

Riding on the success of models like Vitara Brezza, Ertiga and S-Cross, Maruti Suzuki's sale of utility vehicles reached 253,759 units in 2017-18, growing 29.6 percent over previous year sales of 195,741 units.

"Sales of Vitara Brezza increased by 36.7 percent in 2017-18, while it jumped by 44.4 percent for S-Cross and 4.1 percent for Ertiga," RS Kalsi, Senior Executive Director, Maruti Suzuki said.

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The Market Recovered To Trade Near Day's High, With The Nifty Inching Towards 10,600 Levels

The market recovered to trade near day's high, with the Nifty inching towards 10,600 levels on positive global cues.

ITC was the top gainer among Nifty50 stocks, rising 3 percent and helping FMCG index rise over 1.5 percent while Zee Entertainment was up over 2 percent, taking Media index higher by 1.5 percent.

The 30-share BSE Sensex was up 86.33 points at 34,481.39 and the 50-share NSE Nifty rose 21.90 points to 10,570.60.

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Tuesday, 17 April 2018

Adani Ports And Special Economic Zone Share Price Gained Nearly A Percent

Adani Ports and Special Economic Zone share price gained nearly a percent after it signed a long term agreement with Indian Oil Corporation to provide liquefied natural gas regasification services on a use or pay basis to the state-run refiner, at its upcoming LNG import terminal at Dhamra in Odisha.

As per the contract, IOC has booked 3 million tonnes per annum regasification capacity spread over 20 years. IOC plans to supply the gas to its refineries in Paradip in Odisha and Haldia in West Bengal.

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