Sensex falls 145 points, Nifty below 10,100, Dr. Reddy’s shares gain

stock market down

At 11:20 am The BSE Sensex dropped by 105.68 points, to 32,295, while the Nifty fell 41 points to 10,100.

Asian stock shares struggled for direction on Thursday morning since the US stock markets closed mixed and the Federal Reserve left interest rates unchanged but there is hopes that it expects another increase by the end of the year.

Shares of Divi’s Laboratories gained 2.35 percent at Rs 964.95/share, Cipla gained 1.02 percent at Rs 575.50/share, Glenmark Pharma gained 0.90 percent at Rs 615.70 per share and Aurobindo Pharma gained 0.77 percent at Rs 751.30 per share.

Dr Reddy’s Lab surged over 6.5 percent to Rs. 2462.90 after it has got an Establishment Inspection Report from the US food & drug regulator for its Srikakulam plant. The stock of Dr. Reddy Lab was the major gainer on Sensex, Nifty hitting its highest price since 31 July 2017.

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BSE Bonbay

Sensex, Nifty open higher on Wednesday morning hours, against the last session’s closing. The shares of RIL, TCS, Adani Port advanced, while L&T and HDFC shares fall.

Here are a few top stocks that are likely to be in focus today:
Tata Motors shares rises @1.3% to Rs. 392.25 after the company announced its global wholesales up 9% to 94,210 in August, y-o-y.

Jet Airways posted a standalone net profit of Rs 53.50 crore in the April – June quarter, compared to Rs 25.88 crore a year earlier. 

Tata Sons’ holding company Tata Chemicals is buying out Tata Global Beverages in Tata Chemicals for about Rs 1458.55 crore.

Daily stocks on focus the Cabinet Committee on Economic Affairs has approved a Dairy Processing & Infrastructure Dev. Fund with a cost of Rs 10,881 crore for 2017-18 to 2028-29 to heighten the dairy sector. 

ONGC shares are in focus as the Union Cabinet has approved a Rs 3,000 crore project to acquire seismic data for prospecting of oil and natural gas reserves. National oil companies, Oil & Natural Gas Corporation and Oil India Ltd will implement the project. 

At 10.35 AM, the BSE Sensex is trading at 32,231 up 72 points, while NSE Nifty is trading at 10,111 up 19 points. A total of 57 stocks clocked a fresh 52-week high in trade today, while 6 stocks crossed a new 52-week low on the NSE.