Essel Propack Limited (500135) Dips -0.66% on Mar 17

Rodiano Bonacci
Marzo 20, 2018

The BSE Sensex closed at 32,923.12, down by 252.88 points since Friday's close, and the National Stock Exchange's Nifty50 ended 100.9 points lower at 10,094.25. The Nifty rose 29.40 points, or 0.29% at the day's high of 10,224.55 in early trade.

Mumbai: The markets cracked with the benchmark indices losing almost 1% on Monday ahead of the two-day Federal Open Market Committee meeting in the U.S. starting Tuesday night. The BSE Small-Cap index was down 0.95%. A total of 95 shares were unchanged.

Volatility index India VIX was up 2.23% to 15.5600. Tata Global Beverages (down 2.53%), Procter & Gamble Hygiene & Health Care (down 1.17%), Jyothy Laboratories (down 1.08%), Britannia Industries (down 1.06%), GlaxoSmithKline Consumer Healthcare (down 0.49%), Colgate Palmolive (India) (down 0.28%), Nestle India (down 0.21%) and Marico (down 0.05%), edged lower.

Glenmark Pharmaceuticals Limited, together with its subsidiaries, develops, makes, and markets pharmaceutical products in India, the United States, Latin America, Europe, and internationally. The price band for the issue is Rs 327 to Rs 332 per share. Prem Kishan Gupta controlled 0.76% stake end December 2017. The widening of the CAD on a year-on-year (y-o-y) basis was primarily on account of a higher trade deficit ($44.1 billion) brought about by a larger increase in merchandise imports relative to exports.

On the macro front, India's current account deficit (CAD) was reported at $13.5 billion (2% of GDP) in Q3 of 2017-18, up from $8 billion (1.4% of GDP) in Q3 of 2016-17 and $7.2 billion (1.1% of GDP) in the preceding quarter.

The market traded largely mute rest of the week sessions confined by subdued global peers due to escalating geopolitics worries after United States levied tax on steel and aluminium imports and planned to impose sweeping tariffs on Chinese imports, while the U.S. challenging Indias export subsidy schemes at the WTO fanned investor uncertainty. The US Dow Jones Industrial average ended 0.29% higher on Friday.

The markets ample gains during start of the week on illusion of receding trade war fears and strength of the United States economy witnessed a trend reversal despite the countrys positive macro-datas of CPI and WPI inflation, robust Industrial production (IIP) as well as World Bank prediction of Indias growth of 7.3 per cent in FY19. This was the biggest fall of the benchmark indices since February 6.

The US Federal Reserve's two-day monetary policy meeting is scheduled on March 20-21.

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