Market Live: Sensex, Nifty remain sluggish; pharma stocks continue to bleed

Market Live: Sensex, Nifty remain sluggish; pharma stocks continue to bleed
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Market Live: Sensex, Nifty remain sluggish; pharma stocks continue to bleed

Moneycontrol News

Papers 13h33 New IPO: Shalby hospitals have submitted a preliminary document with regulator of capital markets Sebi to launch an initial public offering.

The public offering includes a new sale of shares worth Rs 580 crore, plus an offer of 10 lakh shares by promoter Vikram Shah, according to the draft leaflet on the smoke curtain (DRHP).

The proceeds of the initial public offering (IPO) will be used to pay for certain loans used by the Company, in addition to the purchase of medical equipment for existing facilities, newly created and future hospitals.

In addition, the company plans to spend funds for the purchase of interiors and infrastructure for future hospitals and some will be retained for general corporate purposes.

13:10 Checking benchmark market indices were low during the afternoon session, Sensex and Nifty are trading lower at around half a percent.

The Sensex fell 138.42 points 30.432.55, while the Nifty fell by 35.85 points 9402.40. The width of the market, however, was negative, as only stocks of 461 advanced against a decline of 2,100 shares, while 119 stocks remained unchanged.

Sun Pharma and Cipla were the biggest losers in both indices, while Maruti Suzuki, Mahindra and Mahindra, Eicher Motors and Hindalco have won more.

24:45 VA Tech Wabag Command: The company obtained an order Dangote the company’s oil refinery in Nigeria worth Rs 680 crore.

A business management meeting is scheduled for May 25, 2017 to review, approve and record the Company’s audited financial results (both independent and consolidated) for the year ended March 31, 2017 and consider the dividend recommendation , even if it is only.

24:05 pm Market Check: After taking a breather in the previous hour, the market expanded its losses in the morning session, with the skilful around 9400 points.

The Sensex fell 173.66 points 30,397.31, while the Nifty fell 50.10 points 9388.15. The amplitude of the market was negative as the stocks of 376 advanced against a decrease of 2090 shares, while 111 stocks remained unchanged.

Sun Pharma, Cipla and Aurobindo Pharma lost more, while Suzuki Maruti, Tata Motors and Eicher Motors gained the most.

European stock markets are expected to open Tuesday as investors wake up with the news of another terrorist incident in the UK and digest new political and economic turmoil in the euro zone.

The FTSE 100 is shown in 7 points at 7502, it is expected that the DAX to open lower at 1 point to 12 620 and the CAC 40 is expected to start 2 points at 5,333.

11:35 am buzzing file: Aurobindo Pharma has lost more than 6% intraday on Tuesday after investors have reacted to insider trading developments with the SEBI.

The market regulator, Stock Exchange and Securities Board of India (SEBI) Monday filed a case concerning the breach of insider trading rules against Sumanth Kumar Reddy Mettu, developer Aurobindo Pharma. The case was considered as the pharmaceutical company had already fined and also warned against the challenges of the future.

11:15 Market Check: After spending more than 0.5 percent in the first hour of trading, the market appeared stable at lower levels, the Nifty around 9,400.

The Sensex fell 149.90 points 30,421.07, while the Nifty fell by 45.20 points 9393.05. The width of the contract was firmly placed in the negative zone as 330 stocks advanced against a decline of 2019 shares, so that 98 units remained unchanged.

Gail and shares pharmatiques Sun Pharma and Aurobindo Pharma lost most of both indexes, while Maruti Suzuki, Wipro and Eicher Motors gained the most.

Midcaps, banks and PSU metals reduced their losses, while the index in the pharmaceutical industry Nifty extended its losses.

10:37 Laps Gains Survey: The Turns Refrigerators and air conditioners manufacturer will release its fourth quarter Tuesday.

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