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Indian markets end flat
Mon, 21 Sep Closing

After opening weak in the morning session, the Indian markets pared losses in the post noon trading session and finished the day just below the dotted line. While BSE Sensex was down by 26 points, the NSE-Nifty too closed down by 5 points. While most of the sectoral indices ended in green, the mid and small cap indices too gathered steam. The BSE Mid Cap and the BSE Small Cap indices were up by 0.4% and 1.2% respectively. FMCG and oil & gas stocks witnessed maximum selling pressure.

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 1.89%, while the Nikkei 225 led the Hang Seng lower. They fell 1.96% and 0.80% respectively. European markets are mixed today. The CAC 40 is up 1.12%, while the FTSE 100 gains 0.53%. The DAX is off 0.50%. The rupee gave up early losses, but was still trading down by 10 paise at 65.77 against the US$ in the afternoon session.

According to a leading financial daily, Strides Arcolab and Sun Pharmaceutical Industries have entered into a definitive agreement related to erstwhile Ranbaxy's 'Solus' and 'Solus Care' divisions operating in the central nervous system (CNS) segment in India. The agreement involves transfer of these two marketing divisions, along with employees to Strides for a consideration of Rs 1.65 bn. As per IMS July 2015 MAT report, all the products of these two divisions together accounted for approximately Rs 920 m in sales. Strides Arcolab ended the trading day up by 4.8% on the BSE.

Engineering sector ended the trading day with modest gains with Voltamp Transformers and Manugraph India leading the pack of gainers. According to a leading financial daily, Bharat Heavy Electricals (BHEL) has commenced first unit of the upcoming 3x660 MW Supercritical Thermal Power Plant at Mirchwara in Lalitpur district of Bundelkhand in Uttar Pradesh. The unit has been synchronized by the company three months ahead of the schedule agreed between Lalitpur Super Thermal Power Project and BHEL. The commencement of the unit by the company will result in improvement of power availability in the state of Uttar Pradesh. The second and third units of the project are also in advanced stages of completion. Further, in Uttar Pradesh, three supercritical thermal units at Bara (3x660 MW) and the second 500 MW unit at Anpara, being set up by BHEL, are also in advanced stages of completion.

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