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  • Realty stocks gain
  • January 03,2018  13:17
  • Volatility struck bourses in afternoon trade as the key benchmark indices regained strength soon after trimming gains from higher levels. At 13:15 IST, the barometer index, the S&P BSE Sensex, was up 63.89 points or 0.19% at 33,812.26. The Nifty 50 index was up 23 points or 0.22% at 10,465.20. Realty stocks gained. Telecom stocks saw mixed trend.

    Positive cues from other Asian stocks boosted sentiment in domestic market. Key indices opened higher and hit fresh intraday high in morning trade. Further gains were capped as profit booking emerged at higher levels in mid-morning trade. Key benchmarks were range bound in early afternoon trade.

    Among secondary barometers, the BSE Mid-Cap index was up 0.59%. The BSE Small-Cap index was up 0.97%. Both these indices outperformed the Sensex.

    The broad market depicted strength. There were more than two gainers against every loser on BSE. 1,901 shares rose and 822 shares fell. A total of 105 shares were unchanged.

    Dr Reddy's Laboratories lost 2.71% on media reports that an establishment inspection report has been issued to the company's Duvvada facility by the United States Food and Drug Administration with some issues raised in it. The report further stated that Duvvada facility status continues to be classified as official action initiated (OAI). In pharmaceuticals parlance, OAI means regulatory/admin sanctions by the drug regulator are initiated, as per reports.

    Realty stocks gained. DLF (up 2.38%), Indiabulls Real Estate (up 0.97%), Housing Development and Infrastructure (up 1.94%), Parsvnath Developers (up 4.09%), Unitech (up 2.06%), Sobha (up 3.22%), Godrej Properties (up 0.81%) and Prestige Estates Projects (up 0.25%) rose. D B Realty (down 1.51%) and Oberoi Realty (down 0.41%) fell.

    Telecom stocks saw mixed trend. Bharti Airtel (up 1.11%), Idea Cellular (up 1.69%) and MTNL (up 0.06%) rose. Tata Teleservices (Maharashtra) (down 1.39%) and Reliance Communications (down 4.64%) fell.

    Shares of Bharti Infratel rose 0.58%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

    Vikas WSP rose 4.97% after the company said it has received a trial order of Rs 5.86 crore of newly developed guar gum 480U for use in lacto-fermented and convenient food applications to bind free water for a longer period thereby enhancing the mouthfeel naturally from MNC customers globally. Once the product is used and confirms the pilot results at the end use there is a potential business of 50-60 million pounds quantity in the North America continent alone as per survey conducted by the company's surveyors. The announcement was made after market hours yesterday, 2 January 2018.

    Satin Creditcare Network rose 1.98% to Rs 438.50, with the stock recovering on bargain hunting after recent slide. Shares of Satin Creditcare Network had fallen 8.68% in the preceding four trading sessions to settle at Rs 430 yesterday, 2 January 2018, from its closing of Rs 470.90 on 27 December 2017.

    Overseas, Asian shares were mixed. Japanese market was shut. US stocks jumped overnight, with major indexes rallying to record levels in a broad rally. The Dow Jones Industrial Average rose 0.4%. The S&P 500 rose 0.8%. The Nasdaq Composite Index gained 1.5%.

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