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Capital goods, banking stocks outperform
Mon, 5 Oct Closing

The Indian equity markets ended the day on a strong note today as buying activity gathered momentum as the day progressed on the back of firm international markets. The BSE-Sensex closed higher by about 565 points, while the NSE-Nifty ended higher by about 168 points. Buying activity was seen in stocks across the board, with those from the capital goods, banking and metal spaces being the top gainers, while stocks from the healthcare and consumer durables sectors were amongst the top underperformers. Mid and smallcap stocks closed the day on a firm note as well with the S&P BSE Midcap and S&P BSE Smallcap indices ending higher by 1.8% and 1.6% respectively.

Asian markets finished broadly higher today with shares in Hong Kong leading the region. The Hang Seng closed up by 1.62%, while Japan's Nikkei 225 ended higher by 1.58%. China's Shanghai Composite reported gains of 0.48%. European markets too opened higher today with shares in France leading the region. The rupee trimmed its initial gains but was still up by 22 paise against the US dollar at 65.29 in the afternoon session.

According to a leading financial daily, TVS Motor Company has reported 1.68% drop in sales for the month of September 2015, with total sales falling from 236,751 units recorded in the month of September 2014 to 232,775 units in the month of September 2015. However, the company's total exports grew by 33% to 41,435 units in September 2015 from 31,229 units in September 2014. Two wheeler exports grew by 30% to 30,908 units in September 2015 from 23,834 units in September 2014. Furthermore, three wheeler sales of the company registered an increase of 28% to 11,773 units in September 2015 growing from 9,162 units in September 2014. The scrip of TVS motor ended lower by 0.26% on the BSE today.

Buying activity was witnessed across majority of the healthcare sector with Piramal Enterprises and Strides Arcolabs leading the gains. Shares of Biocon ended the trading day on an encouraging note (up 0.94%) after it was reported that the company has acquired the business assets of the pharmaceutical manufacturing unit Acacia Life Sciences Private Limited located at Vishakapatnam with effect from October 01, 2015. This unit is presently manufacturing advanced intermediates of potent active pharma ingredients useful to the company's business as well as for supply to third party customers. Since the company is looking forward to enhance its presence in US market, this facility will facilitate the ANDA filings going forward.

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Jan 17, 2018 11:17 AM