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Benchmark indices Sensex
and Nifty ended Monday's session on a positive note led by buying in pharma and
IT counters. The S&P BSE Sensex gained 132 points to settle at 34,865 while
NSE's Nifty50 index closed at 10,512.50, up 40 points. It was the second
consecutive day that the stocks ended in the green. However, gains were
capped as rising oil prices, weakening rupee and rising inflation dampened
investor sentiment amid weak Asian cues.Asian shares slipped as worries over
Sino-US trade disputes, a possible slowdown in the Chinese economy and higher
US borrowing costs tempered optimism despite a rebound in global equities late
last week.Back home, the rupee opened weak, at 73.80/$ against its previous
close of 73.57. During the trade, it slipped further and once again breached 74
levels. The domestic unit had hit a fresh low of Rs 74.48 per dollar on Friday.
Going forward, any negative moves on the back of a strengthening dollar or
rising crude is likely to strain the rupee as well.The WPI Inflation for
September rose to a two-month high of 5.13 per cent, mainly due to the
hardening of food prices and the rise in the cost of petrol and diesel.Among
individual stocks, HUL fell over 4 per cent after the FMCG major reported
a 19.5 per cent year-on-year growth in standalone profit to Rs 15.25 billion. The
stock ended Rs 1,526.60 apiece on BSE, down 3 per cent.Avenue Supermarts ended
6 per cent lower at Rs 1,333 after the company after margin disappointment
in the second quarter of the current financial year 2018-19 (Q2FY19).Among
sectoral indices, shares of pharmaceutical companies advanced in an otherwise
subdued market with Nifty Pharma index gaining over 2%.Dr. Reddy’s
Laboratories, Lupin, and Biocon from the index were up in the range of 3% to
5%, while, Sun Pharmaceutical Industries, Cipla, Glenmark Pharmaceuticals,
Cadila Healthcare, Aurobindo Pharma and Divi’s Laboratories up between 1% and
2% on the NSE.IT stocks too rose in the trade.
IT major Infosys ended nearly 4
per cent higher at Rs 703.30 apiece on BSE ahead of its Q2 results, due on
Tuesday. Shares of pharmaceutical were in focus in an otherwise subdued
market on Monday with Nifty Pharma index gaining nearly 2% against
0.17% decline in the Nifty 50 at 09:36 am Dr Reddy’s Laboratories, Lupin, and Biocon from
the index were up in the range of 3% to 4%, while, Sun Pharmaceutical
Industries, Cipla, Glenmark Pharmaceuticals, Cadila Healthcare, Aurobindo
Pharma and Divi’s Laboratories up between 1% and 2% on the NSE. In comparison,
the Nifty Pharma index, the largest gainer among sectoral indices,
was up 1.7% at 9,683 points.Natco Pharma, Morepen Laboratories, Granules India
and Sequent Scientific were from the non-index stocks, up 5% each on the BSE.
TOP GAINERS:DR REDDY,INFY,HINDALCO
MAJORLOOSERS: M&M,GAIL,HINDPETRO
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