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The S&P BSE Sensex ended at 36,542, down 110 points while
the broader Nifty50 index settled at 11,054, down 14 points.Among sectoral indices, the Nifty FMCG index
fell 1.5 per cent led by a fall in ITC and Hindustan Unilever. The Nifty IT
index, on the other hand, settled 1.9 per cent lower weighed by Infosys and
Tata Consultancy Services (TCS).
In key individual stocks, YES Bank rose 1.4 per cent to Rs 223 on the BSE. DHFL also rose nearly 1 per cent to Rs 303.20.
Investors will keenly watch US Fed meet outcome due later in the day for fresh cues in the markets. Shares of Biocon hit a new high of Rs 718 per share, up 2% on Wednesday, extending their 6% rally on Tuesday on the BSE in an otherwise subdued market after the company said the inspection of its drug substance manufacturing site at Bengaluru campus by the US health regulator has concluded without any observations.In past one year, the stock of biotechnology firm has zoomed 109% as compared to a 16% rise in the S&P BSE Sensex.
In the past two months, post the April-June (Q1FY19)
results, Biocon has outperformed the market by gaining 28% against a 1% decline
in the benchmark index.Although these approvals do not imply immediate launch
of the product in these regions, it endorses the development and manufacturing
capabilities of Biocon in the realm of biosimilars. Progress on the biosimilars
regulatory front in developed markets and launches in the developed, as well as
emerging markets, are likely to maintain investor’s optimism for the company,
it added.Biocon was trading 1.7% higher at Rs 714 on the BSE, as compared to
0.02% decline in the S&P BSE Sensex. A combined 1.45 million equity shares
changed hands on the counter on the NSE and BSE so far.In key individual stocks, YES Bank rose 1.4 per cent to Rs 223 on the BSE. DHFL also rose nearly 1 per cent to Rs 303.20.
Investors will keenly watch US Fed meet outcome due later in the day for fresh cues in the markets. Shares of Biocon hit a new high of Rs 718 per share, up 2% on Wednesday, extending their 6% rally on Tuesday on the BSE in an otherwise subdued market after the company said the inspection of its drug substance manufacturing site at Bengaluru campus by the US health regulator has concluded without any observations.In past one year, the stock of biotechnology firm has zoomed 109% as compared to a 16% rise in the S&P BSE Sensex.
TOP GAINERS:UPL,VEDL,TITAN
MAJORLOOSERS: TATAMOTORS,ITC,WIPRO
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