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Markets close the week 1% lower
Fri, 13 Mar Closing

With the selling pressure intensifying during the closing stages, indices in the Indian equity markets went further down and closed the day deep in the red. Thus, the BSE-Sensex ended lower by around 427 points (down 1.5%). Similarly, NSE-Nifty succumbed to all round selling and was quoting lower by 128 points at closing, or 1.55 %. S&P BSE Midcap and S&P BSE Smallcap indices were hurt relatively lesser but still closed 1.3% and 1.6% lower respectively. Prominent losers that dragged down the key indices were FMCG, banking and capital goods sector.

As regards to global markets, Asian indices had a mixed outing today. European indices opened the day in negative. The rupee was trading at Rs 62.67 to the dollar at the time of writing.

Crompton greaves and Manugraph India are the leading losers among engineering stocks. According to a leading financial daily, State run BHEL has commissioned another 660 MW super-critical or energy efficient unit of NTPC's Barh thermal power project in Bihar. Meanwhile, the company said it is currently executing orders for 36 sets of super-critical boilers and 31 sets of super-critical turbine generators, which are in various stages of execution. Reportedly, the key equipment for the project has been manufactured by BHEL at its Haridwar, Trichy, Hyderabad and Bengaluru works, while the construction of the plant was undertaken by the company's Power Sector - Eastern Region. BHEL ended the day on a negative note (down 3.41%) on the BSE.

According to a leading business daily, Glenmark Pharmaceuticals has received approval for generic Salmecort MDI inhaler used for management of asthma and pulmonary disease from Russia's Ministry of Health. Reportedly, the total inhaler market in Russia is estimated to be around US$ 283 m, out of which the total MDI market is valued at around US$ 107 m. The Glenmark scrip closed at Rs 841.6, up 0.48 %, on the BSE.

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Mar 22, 2018 (Close)