Domestic market ended the volatile session with modest gains, backed by firmness in index pivotals. The Nifty 50 opened on positve note and traded with same sentiments throughout the week. The nifty 50 gained 40 points and settled the day at 10512.50. Pharna sector were the major gainer and Auto sector were the major losers of the day. On the macro front, the official Wholesale Price Index (WPI) for ‘All Commodities’ for September 2018 rose by 0.7% to 120.8 (provisional) from 120.0 (provisional) for the previous month.
European shares failed to rebound as a flurry of threats such as trade wars, rising U.S. yields, a slowdown in China, Brexit and the Italy/EU budget row continued to weigh on markets.
British ConvaTec was the worst performer on the STOXX 600 down 28 percent, after cutting its forecast and announcing its CEO was stepping down.
Larsen & Toubro announced that its heavy engineering arm has secured additional orders worth Rs 1,050 crore in Q2 FY19 against stiff global competition.
Dr. Reddy’s Laboratories has entered into a definitive agreement for the sale of its API manufacturing business unit located in Jeedimetla, Hyderabad, to Therapiva Private Ltd., an emerging generics pharmaceutical company.
Lupin has received a Tentative Approval from USFDA for Lurasidone HCL tablets. Latuda is an atypical antipsychotic which is indicated for the treatment of schizophrenia.
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Hydrocortisone Valerate Cream USP, 0.2%, a generic version of Westcort Cream, 0.2%, of Sun Pharmaceutical Industries Inc.
Share prices of GSS Infotech gained 10% in late morning trade on Monday after the company acquired 100% stake in Nexii Labs Inc., USA
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