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With buying activity picking up in the final hour of today's session, the BSE-Sensex today closed higher by 170 points, while the NSE-Nifty closed higher by 43 points. Mid caps and small caps too finished on a buoyant note. While the BSE Mid Cap index closed higher by 0.6 %, the BSE Small Cap index closed the day with gains of 0.7%. Barring information technology, major sectoral indices ended the day on a cheerful note. Gains were largely seen in automobile and oil & gas stocks.
Barring Japan, major Asian stock markets ended in green. European markets are broadly higher today with shares in France leading the region. The CAC 40 is up 2.3% while Germany's DAX is up 2.2%. The rupee was trading weak at 67.04 against the US$ in the afternoon session.
As per an article in leading financial daily, Sun Pharmaceutical sold one of its factories in Ohio, US to Nostrum Laboratories. The terms and conditions of the deal were not disclosed by the company. However, the transaction will have negligible impact on the financials of the company. Sun Pharma's subsidiary has divested this unit as a going concern along with the employees and related products to Nostrum. The company has divested this unit as a part of its ongoing process to consolidate its manufacturing business in the USA.
The stock of Sun Pharma ended higher by 0.6%
As per an article in leading financial daily, Tata Motor's will hike prices of entire passenger vehicle range by up to Rs 20,000 from January, 2016. The management stated that various macro-economic factors have led the company to do so. The maximum increase in price is capped at Rs 20,000. A weaker rupee has led to automobile manufacturers to increase their prices. A falling rupee has led to significant increase in the import costs. Various car manufacturers such as Maruti Suzuki, Hyundai, Honda Motors have announced their plans of hiking prices from next month. Tata Motors ended higher by 2% today.
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