Market registered strong losses in the last trading session of the week amid geopolitical tensions. The barometer index, the S&P BSE Sensex lost 447.60 points or 1.38% to settle at 31.922.44. The Nifty 50 index fell 157.50 points or 1.56% to settle at 9,964.40. The Sensex settled below the 32,000 mark while the Nifty skidded below the crucial 10,000 level.

Bank stocks declined. Metal and mining stocks slumped amid fall in global metal prices after S&P Global Ratings cut China's sovereign credit rating for the first time since 1999, citing the risks from soaring debt, and revised its outlook to stable from negative.

Market sentiment took a hit after North Korea's threat that it could consider testing a nuclear weapon in the Pacific. North Korea's foreign minister reportedly warned yesterday, 21 September 2017 that Pyongyang could test a hydrogen bomb over the Pacific Ocean in response to US President Donald Trump's threats of military action.

The Sensex lost 447.60 points or 1.38% to settle at 31,922.44, its lowest closing level since 11 September 2017. The index tumbled 483.95 points or 1.49% at the day's low of 31,886.09. It fell 27.23 points or 0.08% at the day's high of 32,342.81.

The Nifty fell 157.50 points or 1.56% to settle at 9,964.40, its lowest closing level since 8 September 2017. The index slumped 169.10 points or 1.67% at the day's low of 9,952.80. It fell 26.85 points or 0.26% at the day's high of 10,095.05.

Among other indices, the S&P BSE Mid-Cap index fell 2.71%. The S&P BSE Small-Cap index lost 2.93%. The losses in both the indices were higher than the Sensex's slide in percentage terms.

Broad market depicted weakness. There were four losers for every gainer on BSE. 2,096 shares declined and 519 shares advanced. A total of 146 shares were unchanged.

The total turnover on BSE amounted to Rs 3925.21 crore, lower than turnover of Rs 4221.54 crore registered during the previous trading session.

All the nineteen sectoral indices on the BSE finished the session in red. The S&P BSE Healthcare index (down 2.05%), the BSE Bankex index (down 1.89%), the BSE Capital Goods index (down 3.29%), the BSE Metal index (down 3.99%) and the BSE Realty index (down 4.29%) underperformed the Sensex. The BSE FMCG index (down 1.06%), the BSE IT index (down 0.7%) and the BSE Auto index (down 1.18%) outperformed the Sensex.

Bank stocks declined. Among public sector banks, Bank of India (down 3.87%), IDBI Bank (down 3.74%), Bank of Baroda (down 2.54%) and State Bank of India (down 2.46%) edged lower.

Punjab National Bank fell 2.92% at Rs 137.80. The bank said that its board will meet on 27 September 2017 for considering raising common equity tier capital upto Rs 5000 crore as per Basel III requirements. The announcement was made during trading hours today, 22 September 2017.

Indian Bank lost 3.49% at Rs 271.35. The bank announced that the board of directors approved issuance of 7-year long term bonds amounting to Rs 2000 crore in tranches out of the Rs 5000 crore. The announcement was made after market hours yesterday, 21 September 2017.

Among private sector banks, Yes Bank (down 4.31%), ICICI Bank (down 2.77%), Axis Bank (down 1.61%), IndusInd Bank (down 1.15%), Kotak Mahindra Bank (down 0.93%) and HDFC Bank (down 0.83%) declined.

Metal and mining stocks slumped amid fall in global metal prices after S&P Global Ratings cut China's sovereign credit rating for the first time since 1999, citing the risks from soaring debt, and revised its outlook to stable from negative.

National Aluminium Company (down 7.25%), Jindal Steel & Power (down 8.17%), NMDC (down 5.01%), Steel Authority of India (down 5.16%), Tata Steel (down 4.7%), Hindalco Industries (down 5.22%), Vedanta (down 4.49%), Hindustan Zinc (down 3.72%), Hindustan Copper (down 2.81%) and JSW Steel (down 2.97%) declined. China is the world's largest consumer of steel, copper and aluminum.

Infosys fell 1.26% at Rs 898.05. Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced a partnership with ToneTag, a provider of near-field communications, payments and location based services using sound waves. The announcement was made during market hours today, 22 September 2017.

InterGlobe Aviation fell 2.14% at Rs 1,111.55. The company announced that a committee of the Board of Directors approved allotment of 3.35 crore equity shares to qualified institutional buyers at an issue price of Rs 1,130 per share. The announcement was made after market hours yesterday, 21 September 2017.

The India Meteorological Department (IMD) in its weekly weather report said that for the country as a whole, cumulative rainfall during this year's monsoon upto 20 September has been 5% below the normal rainfall. The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.

Overseas, European stocks were mixed and most Asian stocks edged lower after North Korea's threat that it could consider testing a nuclear weapon in the Pacific.

European Central Bank (ECB) President Mario Draghi said yesterday, 21 September 2017 that monetary policy is not the right instrument to address financial imbalances in the euro zone and macroprudential tools must be used to tackle local issues.

US stocks declined yesterday, 21 September 2017 as profit booking emerged after recent winning streak.

In the economic news, the US initial claims for state unemployment benefits declined 23,000 to a seasonally adjusted 259,000 for the week ended 16 September, the Labor Department said yesterday, 21 September 2017.

The market settled with small losses. The barometer index, the S&P BSE Sensex, fell 30.47 points or 0.09% to settle at 32,370.04. The Nifty 50 index fell 19.25 points or 0.19% to settle at 10,121.90. Market participants lacked strong buying conviction amid subdued trading on Asian bourses after the outcome of the Federal Reserve meeting.

Pharma stocks surged as rupee weakened against the dollar. Dr Reddy's Laboratories surged after the company said that the audit of its Custom Pharmaceutical Services (CPS) facility, Technology Development Centre (TDC-1) at Miyapur, Hyderabad, Telangana, by the United States Food & Drug Administration (USFDA) has been completed today, 21 September 2017, with zero observations.

Key indices opened the session with small gains. Later, they slipped into the negative zone tracking subdued trading in Asian bourses and traded with modest losses till mid-afternoon trade. Indices trimmed intraday losses in late trade.

Overseas, most European stocks rose, while Asian stocks were mixed after the Federal Reserve announced a plan to begin unwinding its balance sheet and signaled one more interest rate hike for this year.

In the economic news, European Central Bank (ECB) in its economic bulletin released today, 21 September 2017 said that Eurozone economic growth is gaining momentum and the rapid fall in the unemployment rate is encouraging but inflation has yet to show convincing signs of a sustained upward trend, requiring continued stimulus.

The Bank of Japan (BOJ), at the conclusion of its two-day monetary policy meeting today, 21 September 2017, kept monetary policy steady. In a widely expected move, the BOJ maintained the 0.1% interest it charges on a portion of excess reserves that financial institutions park at the central bank. The central bank also kept its yield target for 10-year Japanese government bonds around 0%. The decision was made by an eight-to-one vote.

US stocks closed at record highs yesterday, 20 September 2017, after the Federal Reserve indicated another rate hike this year was possible and that it would begin the unwinding of its balance sheet next month.

US central bank, at the conclusion of its two-day monetary policy meet yesterday, 20 September 2017, left rates unchanged. Fed stated that it will begin in October rolling off its $4.5 trillion balance sheet, most of which consists of the Treasuries and mortgage-backed securities.

Back home, the Sensex fell 30.47 points or 0.09% to settle at 32,370.04, its lowest closing level since 15 September 2017. The index rose 62.10 points, or 0.19% at the day's high of 32,462.61. The index fell 236.09 points, or 0.73% at the day's low of 32,164.42.

The Nifty 50 index fell 19.25 points or 0.19% to settle at 10,121.90, its lowest closing level since 15 September 2017. The index rose 17.75 points, or 0.18% at the day's high of 10,158.90. The index fell 82.55 points, or 0.81% at the day's low of 10,058.60.

The S&P BSE Mid-Cap index fell 0.34%. The S&P BSE Small-Cap index lost 0.51%. The losses in both the indices were higher than the Sensex's slide in percentage terms.

The breadth, indicating the overall health of the market, was weak. On the BSE, 1,564 shares declined and 1,000 shares advanced. A total of 151 shares were unchanged.

The total turnover on BSE amounted to Rs 4208.81 crore, lower than turnover of Rs 5069.38 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Realty index (down 2.28%), the S&P BSE Consumer Durables index (down 1.43%), the S&P BSE Basic Materials index (down 0.8%), the S&P BSE Utilities index (down 0.78%), the S&P BSE Bankex (down 0.74%), the S&P BSE FMCG index (down 0.72%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.7%), the S&P BSE Metal index (down 0.64%), the S&P BSE Industrials index (down 0.61%), the S&P BSE Energy index (down 0.6%), the S&P BSE Oil & Gas index (down 0.6%), the S&P BSE Capital Goods index (down 0.56%), the S&P BSE Power index (down 0.56%), the S&P BSE Auto index (down 0.47%), the S&P BSE Finance index (down 0.42%), the S&P BSE Teck index (down 0.03%) and the S&P BSE Telecom index 0.03%), underperformed the Sensex. The S&P BSE IT index (up 0.18%) and the S&P BSE Healthcare index (up 2.74%), outperformed the Sensex.

Pharma stocks surged as rupee weakened against the dollar. IPCA Laboratories (up 16.5%), Divi's Laboratories (up 5.11%), Cipla (up 4.04%), Wockhardt (up 3.61%), Cadila Healthcare (up 3.46%), Lupin (up 3.02%), Glenmark Pharmaceuticals (up 2.84%), Alkem Laboratories (up 2.65%), GlaxoSmithKline Pharmaceuticals (up 2.61%), Sun Pharmaceutical Industries (up 2.59%), Piramal Enterprises (up 0.97%) and Aurobindo Pharma (up 0.80%), edged higher. Strides Shasun fell 2.97%. A weak rupee boosts the value of overseas earnings in local terms. Pharma companies derive substantial revenue from exports.

In the foreign exchange market, the partially convertible rupee was hovering at 64.8375, compared with its close of 64.27 during the previous trading session.

Dr Reddy's Laboratories surged 7.47% at Rs 2,486.45 after the company said that the audit of its Custom Pharmaceutical Services (CPS) facility, Technology Development Centre (TDC-1) at Miyapur, Hyderabad, Telangana, by the United States Food & Drug Administration (USFDA) has been completed today, 21 September 2017, with zero observations. The announcement was made during market hours today, 21 September 2017.

Separately, Dr Reddy's Laboratories said that it has received an Establishment Inspection Report from the US drug regulator, for its Formulation Srikakulam Plant (SEZ) Unit II, Andhra Pradesh. The announcement was made during market hours today, 21 September 2017.

Public sector banks declined. Bank of India (down 3.51%), Andhra Bank (down 3.4%), Syndicate Bank (down 2.48%), Punjab National Bank (down 2.37%), Vijaya Bank (down 2.29%), Union Bank of India (down 2.16%), Bank of Baroda (down 1.99%), Allahabad Bank (down 1.98%), UCO Bank (down 1.76%), Central Bank of India (down 1.66%), Corporation Bank (down 1.59%), Canara Bank (down 1.46%), United Bank of India (down 1.34%), IDBI Bank (down 1.23%), Indian Bank (down 1.16%), Bank of Maharashtra (down 0.77%), State Bank of India (down 0.76%), Dena Bank (down 0.48%) and Punjab & Sind Bank (down 0.31%), edged lower.

Private sector stocks were mixed. ICICI Bank (down 1.99%), Federal Bank (down 1.5%), Axis Bank (down 1.37%), City Union Bank (down 0.79%) and HDFC Bank (down 0.39%), edged lower. Kotak Mahindra Bank (up 0.06%), IndusInd Bank (up 0.07%), Yes Bank (up 0.34%) and RBL Bank (up 0.41%), edged higher.

Matrimony.com settled at Rs 901.20 on BSE, a discount of 8.51% over the issue price of Rs 985 on its debut on the stock exchanges today, 21 September 2017. The stock opened at Rs 985, matching with its issue price. The stock had hit a high of Rs 1,025 and a low of Rs 893.20 in intraday trade. On the BSE, 7.23 lakh shares were traded on the counter so far.

The initial public offer (IPO) of Matrimony.com had received bids for 1.24 crore shares as against 28.11 lakh shares on offer. The IPO was subscribed 4.44 times. The company had fixed the price band of the IPO at Rs 983-985 per share. The IPO opened on 11 September 2017 and closed on 13 September 2017.

Meanwhile, the Sensex has fallen 53.72 points or 0.17% in past three trading sessions from its close of 32,423.76 on 18 September 2017. The Sensex has risen 639.55 points or 2.02% in September so far (till 21 September 2017). The Sensex has risen 5,743.58 points or 21.57% in the calendar year 2017 so far (till 21 September 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,652.11 points or 25.87%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 316.44 points or 0.97%.

Key benchmark indices settled near the flat line in a range-bound trading session. The barometer index, the S&P BSE Sensex, fell 1.86 points or 0.01% to settle at 32,400.51. The Nifty 50 index fell 6.40 points or 0.06% to settle at 10,141.15. Market sentiment was lackluster amid lack of substantial cues to perk up investors' spirits. Investors are also cautious ahead of the outcome of Federal Reserve monetary policy meeting later in the global day.

Overseas, European stocks edged higher while Asian stocks were mixed as investors awaited clues from the outcome of Federal Reserve monetary policy meeting later in the global day. US stocks closed at record high yesterday, 19 September 2017 as the Federal Reserve kicked off a two-day monetary policy meeting yesterday.

Market participants are largely expecting interest rates to remain unchanged. However, Fed is expected to announce the unwinding of its $4.5 trillion balance sheet.

Back home, the Sensex fell 1.86 points or 0.01% to settle at 32,400.51, its lowest closing level since 15 September 2017. The index rose 97.51 points, or 0.30% at the day's high of 32,499.88. The index fell 18.55 points, or 0.06% at the day's low of 32,383.82.

The Nifty 50 index fell 6.40 points or 0.06% to settle at 10,141.15, its lowest closing level since 15 September 2017. The index rose 23.50 points, or 0.23% at the day's high of 10,171.05. The index fell 13.35 points, or 0.13% at the day's low of 10,134.20.

The S&P BSE Mid-Cap index fell 0.07%. The S&P BSE Small-Cap index lost 0.14%. The losses for both these indices were higher than the Sensex's slide in percentage terms.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,355 shares declined and 1,224 shares rose. A total of 155 shares were unchanged.

The total turnover on BSE amounted to Rs 5057.87 crore, lower than turnover of Rs 7703.72 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Telecom index (down 0.77%), the S&P BSE Auto index (down 0.69%), the S&P BSE Consumer Durables index (down 0.66%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.49%), the S&P BSE Utilities index (down 0.46%), the S&P BSE Oil & Gas index (down 0.42%), the S&P BSE Power index (down 0.35%), the S&P BSE Bankex (down 0.28%), the S&P BSE Realty index (down 0.24%), the S&P BSE Teck index (down 0.19%), the S&P BSE Basic Materials index (down 0.17%), the S&P BSE Finance index (down 0.12%), the S&P BSE IT index (down 0.04%) and the S&P BSE Metal index (down 0.03%), underperformed the Sensex. The S&P BSE Industrials index (up 0.01%), the S&P BSE Energy index (up 0.07%), the S&P BSE FMCG index (up 0.15%), the S&P BSE Healthcare index (up 0.23%) and the S&P BSE Capital Goods index (up 0.54%), outperformed the Sensex.

Stocks of public sector banks rose. Bank of Baroda (up 2.84%), Andhra Bank (up 2.02%), Union Bank of India (up 1.53%), Syndicate Bank (up 1.29%), Punjab & Sind Bank (up 1.05%), State Bank of India (up 1.03%), Punjab National Bank (up 0.90%), Bank of India (up 0.81%), Canara Bank (up 0.73%), Corporation Bank (up 0.68%), Allahabad Bank (up 0.55%), Dena Bank (up 0.32%), United Bank of India (up 0.27%) and IDBI Bank (up 0.26%), edged higher. Indian Bank (down 0.05%), UCO Bank (down 0.16%), Bank of Maharashtra (down 0.19%), Vijaya Bank (down 1.53%) and Central Bank of India (down 2.02%), edged lower.

Stocks of private sector banks declined. City Union Bank (down 2.72%), ICICI Bank (down 1.21%), IndusInd Bank (down 1.05%), Kotak Mahindra Bank (down 0.87%), RBL Bank (down 0.67%), Axis Bank (down 0.29%) and HDFC Bank (down 0.13%), edged lower. Yes Bank (up 0.79%) and Federal Bank (up 0.97%), edged higher.

Shares of telecom companies Idea Cellular and Reliance Communications declined after the Telecom Regulatory Authority of India (Trai) yesterday, 19 September 2017, slashed the interconnect usage charge (IUC) to 6 paise per minute from earlier 14 paise a minute with effect from 1 October 2017 and abolished it all together for all local calls starting 1 January 2020. Idea Cellular (down 3.43%) and Reliance Communications (down 1.74%) edged lower. Bharti Airtel rose 0.39% at Rs 396.25.

The move is perceived as a big blow to older telecom firms and a potential boost to newcomer Reliance Jio Infocomm (RJio), the telecom subsidiary of Reliance Industries (RIL). Shares of RIL rose 0.85% at Rs 847.10.

Shares of most tyre manufacturing companies were mixed after the government imposed anti-dumping duty on a certain types of tyres in order to remove injury to the domestic industry. JK Tyre & Industries (up 6.74%), Goodyear India (up 2.30%) and Apollo Tyres (up 1.41%), edged higher. MRF (down 0.28%), Balkrishna Industries (down 0.51%) and CEAT (down 0.69%), edged lower.

The government imposed an anti-dumping duty on a certain types of new/unused pneumatic radial tyres in the range of $245.35 to $452.33 per tonne with or without tubes and/or flap of rubber (including tubeless tyres) having normal rim dia code above 16 inches, used in buses and lorries/trucks originating in, or exported from China and imported into India.

The anti-dumping duty imposed shall be effective for a period of five years (unless revoked, superseded or amended earlier) from 18 September 2017 and shall be payable in Indian currency, according to a notification by the Central Board of Excise and Customs.

As per reports, the tyre industry gets nearly half of its revenue from trucks and buses radial tyres. These companies could potentially see a good margin improvement and earnings upgrade due to anti-dumping duty slapped on Chinese tyres.

Bhagiradha Chemicals & Industries surged 17.02% at Rs 242.65 after the company said that its board meet is scheduled on 22 September 2017 to consider raising funds by issuing convertible warrants and equity shares on preferential basis. The announcement was made after market hours yesterday, 19 September 2017.

Key benchmark indices closed the lackluster trading session near the flat line. The barometer index, the S&P BSE Sensex, fell 21.39 points or 0.07% to settle at 32,402.37. The Nifty 50 index fell 5.55 points or 0.05% to settle at 10,147.55.

Gas utility stocks advanced on reports a global research firm has reportedly turned more bullish on gas utilities as it sees a multi-year growth cycle ahead. Tata Motors jumped amid huge volumes on reports that Tata Sons, the promoter of Tata Group is planning to increase its stake in the company.

Key indices started the session with small gains amid positive global cues. Later, indices hovered near the flat line with small losses with indices extending losses in morning trade. Indices trimmed losses and traded near the flat line till late trade. Earlier, Nifty had hit a record high in early trade.

The Sensex fell 21.39 points or 0.07% to settle at 32,402.37, its lowest closing level since 15 September 2017. The index rose 100.35 points, or 0.31% at the day's high of 32,524.11. The index fell 65.13 points, or 0.20% at the day's low of 32,358.63.

The Nifty 50 index fell 5.55 points or 0.05% to settle at 10,147.55, its lowest closing level since 15 September 2017. The index rose 25.85 points, or 0.25% at the day's high of 10,178.95. The index fell 23.15 points, or 0.23% at the day's low of 10,129.95.

Among other indices, the S&P BSE Mid-Cap index rose 0.13%. The S&P BSE Small-Cap index advanced 0.36%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,309 shares declined and 1,297 shares rose. A total of 161 shares were unchanged.

The total turnover on BSE amounted to Rs 7683.78 crore, higher than turnover of Rs 4284.87 crore registered during the previous trading session.

Gas utility stocks advanced on reports a global research firm has reportedly turned more bullish on gas utilities as it sees a multi-year growth cycle ahead. GAIL (India) (up 4.87%), Indraprastha Gas (up 3.07%), Gujarat Gas (up 1.57%), Gujarat State Petronet (up 3.17%) and Petronet LNG (up 1.24%) edged higher. The growth path was supported by benign gas prices and favourable government policies. It expects the completion of the national gas grid and favourable government policies to support rapid earnings growth even beyond this decade.

Auto major Tata Motors jumped 4.58% at Rs 423.90 amid huge volumes on reports that Tata Sons, the promoter of Tata Group is planning to increase its stake in the company. Tata Sons' shareholders are scheduled to vote on 21 September 2017 to change its legal status to a private company rather than a public company which will restrict the Mistry family's ability to sell its stake to external investors. The Mistry family is planning to vote against the move. Tata Sons held 31.6% stake in Tata Motors as on 30 June 2017.

Index heavyweight and housing finance major HDFC fell 1.02% at Rs 1,752.85. The stock hit a high of Rs 1,779.85 and a low of Rs 1,750.05 in intraday trade.

Public sector bank stocks nudged lower. Central Bank of India (down 1.49%), Canara Bank (down 1.2%), Corporation Bank (down 1.13%), IDBI Bank (down 1.05%), State Bank of India (down 0.87%), Bank of Baroda (down 0.76%), Punjab National Bank (down 0.73%), Punjab & Sind Bank (down 0.52%), Dena Bank (down 0.32%), Union Bank of India (down 0.25%) and Bank of Maharashtra (down 0.19%), edged lower. Syndicate Bank (up 0.14%), Allahabad Bank (up 0.21%), Bank of India (up 0.26%), Indian Bank (up 0.44%), Vijaya Bank (up 0.98%), United Bank of India (up 1.90%) and Andhra Bank (up 3.33%), edged higher.

Private sector banks were mixed. Federal Bank (up 1.88%), Kotak Mahindra Bank (up 1.63%), ICICI Bank (up 0.60%), Yes Bank (up 0.28%) and IndusInd Bank (up 0.02%), edged higher. HDFC Bank (down 0.45%), Axis Bank (down 0.52%), RBL Bank (down 0.56%) and City Union Bank (down 0.59%), edged lower.

Meanwhile, the Sensex declined after rising in the past eight trading sessions. The Sensex rose 761.79 points or 2.41% in eight consecutive trading sessions to 32,423.76 yesterday, 18 September 2017, from its close of 31,661.97 on 6 September 2017. The Sensex has risen 671.88 points or 2.12% in September so far (till 19 September 2017). The Sensex has risen 5,775.91 points or 21.69% in the calendar year 2017 so far (till 19 September 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,684.44 points or 25.99%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 284.11 points or 0.87%.

Overseas, European and Asian stocks were mixed as investors awaited clues from the Federal Reserve on future monetary policy.

The Bank of England (BOE) Governor Mark Carney, making a speech at the International Monetary Fund's headquarters in Washington, reportedly said yesterday, 18 September 2017 that Brexit was likely to push up Britain's inflation rate and he reiterated the central bank's new view that interest rates are likely to rise in the coming months.

US stocks registered fresh record closing high yesterday, 18 September 2017 as investors looked ahead to the outcome of a key Federal Reserve meeting tomorrow, 20 September 2017. Market participants are largely expecting interest rates to remain unchanged. However, Fed is expected to announce the unwinding of its $4.5 trillion balance sheet.

Market registered modest gains in a broadly firm session of trade. The barometer index, the S&P BSE Sensex, rose 151.15 points or 0.47% to settle at 32,423.76. The Nifty 50 index rose 67.70 points or 0.67% to settle at 10,153.10. Telecom stocks gained. Index heavyweights Hindustan Unilever and L&T advanced. The Sensex attained its highest closing levels in more than 1-1/2 months. The Nifty hit a record closing high.

Strong global cues lifted investors' spirit in opening trade. Later, market sentiment remained buoyant till mid-afternoon trade helped by positive European stocks. However, indices slightly pared intraday gains in late trade.

Overseas, European and Asian stocks edged higher as investors anticipated clues on the direction of monetary policy from central banks later in the week. The US Federal Reserve's interest rate decision is scheduled on Wednesday, 20 September 2017.

European Union economic and financial affairs ministers held an informal meeting in Tallinn, Estonia on Friday, 15 September 2017 and emphasized that the strength of the entire EU is dependent on the strength of the economic and monetary union. The implementation of the Greek programme and the third review dominated the meeting, noted Eurogroup president Jeroen Dijsselbloem at a press conference after the end of the meeting, as per reports.

US stocks rose to record levels on Friday, 15 September 2017, posting sharp weekly gains, with a big assist from rallying telecommunication and bank shares as Wall Street shook off North Korea's latest missile launch.

In the economic news, US industrial output fell in August for the first time since January as Hurricane Harvey battered oil, gas and chemical plants along the Gulf Coast and a cool summer sapped utility demand in the east, the Federal Reserve said on Friday, 15 September 2017. Overall industrial production fell 0.9% over the month after a July increase revised upward to 0.4%.

Back home, the Sensex rose 151.15 points or 0.47% to settle at 32,423.76, its highest closing level since 2 August 2017. The index rose 235.45 points, or 0.73% at the day's high of 32,508.06. The index rose 88.64 points, or 0.27% at the day's low of 32,361.25.

The Nifty 50 index rose 67.70 points or 0.67% to settle at 10,153.10, its record closing high. The index rose 86.30 points, or 0.86% at the day's high of 10,171.70. The index fell 45.90 points, or 0.46% at the day's low of 10,131.30.

Among other indices, the S&P BSE Mid-Cap index rose 0.73%. The S&P BSE Small-Cap index advanced 0.87%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,531 shares rose and 1,073 shares declined. A total of 196 shares were unchanged.

The total turnover on BSE amounted to Rs 4272.24 crore, lower than turnover of Rs 4326 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Telecom index (up 1.88%), the S&P BSE Capital Goods index (up 1.47%), the S&P BSE Consumer Durables index (up 1.43%), the S&P BSE Auto index (up 1.24%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.22%), the S&P BSE Industrials index (up 1.10%), the S&P BSE Bankex (up 0.71%), the S&P BSE Teck index (up 0.66%), the S&P BSE Finance index (up 0.65%), the S&P BSE Metal index (up 0.65%), the S&P BSE Realty index (up 0.59%) and the S&P BSE Power index (up 0.55%), outperformed the Sensex. The S&P BSE Basic Materials index (up 0.43%), the S&P BSE IT index (up 0.41%), the S&P BSE Utilities index (up 0.41%), the S&P BSE Healthcare index (up 0.20%), the S&P BSE FMCG index (up 0.19%), the S&P BSE Energy index (up 0.18%) and the S&P BSE Oil & Gas index (down 0.07%), underperformed the Sensex.

Index heavyweight L&T advanced 2.09% at Rs 1,237.80. The stock hit a high of Rs 1,245.45 and a low of Rs 1,213.05 in intraday trade.

FMCG major Hindustan Unilever rose 2.77% at Rs 1,280. The stock hit a high of Rs 1,285 and a low of Rs 1,246 in intraday trade.

Bank stocks gained. Among state-run banks, Andhra Bank (up 1.95%), IDBI Bank (up 1.06%), Allahabad Bank (up 0.83%), Indian Bank (up 0.76%), Bank of Maharashtra (up 0.39%), Dena Bank (up 0.32%), Bank of Baroda (up 0.14%) and Punjab National Bank (up 0.03%), edged higher. Bank of India (down 0.03%), Syndicate Bank (down 0.07%), Union Bank of India (down 0.07%), Canara Bank (down 0.14%), Corporation Bank (down 0.23%), UCO Bank (down 0.32%), State Bank of India (down 0.7%), Central Bank of India (down 1.2%) and Vijaya Bank (down 1.76%), edged lower.

Among private sector banks, IndusInd Bank (up 2.47%), City Union Bank (up 2.01%), Federal Bank (up 1.52%), Axis Bank (up 1.16%), RBL Bank (up 1.01%), Kotak Mahindra Bank (up 0.98%), Yes Bank (up 0.90%), HDFC Bank (up 0.60%) and ICICI Bank (up 0.22%), edged higher.

Axis Bank rose 1.16% at Rs 523.55. The bank said it has reviewed and decided to keep the marginal cost of funds based lending rate (MCLR) of the bank unchanged effective from 18 September 2017. The announcement was made after market hours on Friday, 15 September 2017.

Telecom and telecom tower infrastructure stocks advanced. Idea Cellular (up 3.64%) and Bharti Airtel (up 0.29%) edged higher. Reliance Communications fell 1.46%.

Telecom tower infrastructure provider Bharti Infratel rose 4.01% to Rs 388.10.

Mahindra & Mahindra (M&M) fell 0.07% at Rs 1,292.15. The company and Ford Motor Company announced their intent of exploring a strategic alliance, designed to leverage the benefits of Ford's global reach and expertise and Mahindra's scale in India and its successful operating model. The announcement was made during market hours today, 18 September 2017.

Tata Motors rose 1.02% at Rs 405.35 on reports that the company's compact sport utility vehicle (SUV) Nexon will be launched on 21 September 2017. Nexon will be offered in four variants each -- XE, XM, XT, and XZ+ -- in both petrol and diesel models and will come donned in five colours -- Moroccan blue, Vermont red, Seattle silver, Glasgow grey and Calgary white, reports indicated. Launch of Nexon will mark the company's foray into the rapidly growing compact sport utility vehicle (SUV) segment in India. The vehicle will then compete against primary rivals like the Maruti Suzuki Vitara Brezza and Ford EcoSport, reports added.

Vascon Engineers surged 9.36% at Rs 38.55 after the company said that it has received letter of award (sub-contract) from Shapoorji Pallonji and Company, a domestic entity for the work of civil construction of affordable housing in Adoni Municipal Area and Nandyal Municipal Area of Kurnool District in Andhra Pradesh amounting to Rs 235.76 crore. The work has to be completed within 13 months from the date of receipt of work order. The announcement was made during market hours today, 18 September 2017.

Among economic data, India's merchandise exports increased 10.3% to $23.82 billion in August 2017 over a year ago. Meanwhile, merchandise imports jumped 21% to $35.46 billion. The trade deficit galloped 51.1% to $11.64 billion in August 2017 from $7.71 billion in August 2016, data released by the government after trading hours on Friday, 15 September 2017 showed.

As per the data released by the Reserve Bank of India, India's services exports increased 3.2% to $13.18 billion in July 2017 over July 2016. Meanwhile, India's services imports declined 1% to $7.33 billion in July 2017. India's services trade surplus improved 8.9% to $5.84 billion in July 2017 from $5.37 billion in July 2016.

Meanwhile, the Sensex has risen 761.79 points or 2.41% in eight consecutive trading sessions from its close of 31,661.97 on 6 September 2017. The Sensex has risen 693.27 points or 2.18% in September so far (till 18 September 2017). The Sensex has risen 5,797.30 points or 21.77% in the calendar year 2017 so far (till 18 September 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,705.83 points or 26.07%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 262.72 points or 0.80%.

Key benchmark indices settled near the flat line in what was a largely range-bound session of trade. The barometer index, the S&P BSE Sensex rose 30.68 points or 0.1% to settle at 32,272.61. The Nifty 50 index fell 1.20 points or 0.01% to settle at 10,085.40. Market sentiment was lackluster amid geopolitical tensions in the wake of North Korea's missile launch in the direction of the east of Japan.

Key indices opened the session lower on weak global cues. Later, indices hovered in negative terrain in a mostly range-bound trading till mid-afternoon trade. Indices witnessed a sudden recovery in mid-afternoon trade. However, the recovery proved short lived as key indices settled near the flat line.

Stocks of public sector banks were mixed. Stocks of private sector banks were mostly lower. Shares of power generation and power distribution companies declined. Dr Reddy's Laboratories dropped after report suggested that Indivior Plc., the UK drug firm has filed patent lawsuits against the company, Teva and Mylan.

Wipro rose after the company announced that it has been awarded a 7-year contract by Innogy SE to manage their data center and cloud services.

The Sensex rose 30.68 points or 0.1% to settle at 32,272.61, its highest closing level since 7 August 2017. The index rose 114.18 points or 0.35% at the day's high of 32,356.11 in late trade. It fell 103.55 points or 0.32% at the day's low of 32,138.38 in morning trade.

The Nifty fell 1.20 points or 0.01% to settle at 10,085.40, its lowest closing level since 13 September 2017. The index rose 28.55 points or 0.28% at the day's high of 10,115.15 in late trade. It fell 42.95 points or 0.42% at the day's low of 10,043.65 in morning trade.

Among other indices, the S&P BSE Mid-Cap index fell 0.28%, underperforming the Sensex. The S&P BSE Small-Cap index rose 0.38%, outperforming the Sensex.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,457 shares declined and 1,112 shares advanced. A total of 156 shares were unchanged.

The total turnover on BSE amounted to Rs 4323.55 crore, higher than turnover of Rs 3427.26 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE IT index (up 1.04%), the BSE Metal index (up 0.29%) and the BSE Oil & Gas index (up 0.28%) outperformed the Sensex. The S&P BSE Telecom index (down 0.56%), the BSE Bankex index (down 0.35%) and the BSE Power index (down 0.9%) underperformed the Sensex.

Stocks of public sector banks were mixed. Andhra Bank (up 11.56%), Bank of India (up 0.91%) and IDBI Bank (up 0.09%) gained. State Bank of India (down 0.68%), Punjab National Bank (down 0.59%) and Bank of Baroda (down 0.41%) declined.

Stocks of private sector banks were mostly lower. ICICI Bank (down 0.65%), Yes Bank (down 0.55%), Axis Bank (down 0.42%) and Kotak Mahindra Bank (down 0.25%) declined. HDFC Bank (up 0.33%) advanced.

IndusInd Bank was down 1.51% at Rs 1,701.05. The Asian Development Bank (ADB) has signed a loan of up to $200 million with IndusInd Bank to provide finance to low income women borrowers in rural India. The 7-year senior loan will go toward IndusInd Bank's microfinance activities. The announcement was made during market hours today, 15 September 2017.

Shares of power generation and power distribution companies declined. Jaiprakash Power Ventures (down 4.97%), Adani Power (down 2.18%), Reliance Power (down 1.29%), Reliance Infrastructure (down 1.64%), Tata Power Company (down 1.17%), NHPC (down 1.05%), NTPC (down 0.77%), GMR Infrastructure (down 0.56%) and JSW Energy (down 0.77%) edged lower. Power Grid Corporation of India (up 0.07%) gained.

Dr Reddy's Laboratories dropped 1.77% at Rs 2,210.25 after report suggested that Indivior Plc., the UK drug firm has filed patent lawsuits against the company, Teva and Mylan. The UK drug firm has filed complaint asserting new Suboxone film Patent versus abbreviated new drug application (ANDA) filers. Earlier this month, Indivior had stated that it would appeal against a US court ruling that generic drug maker Dr Reddy's Laboratories had not infringed its patents, potentially opening the way to the company to the Indivior's Suboxone Film opioid addiction treatment.

Wipro rose 0.65% at Rs 285.75 after the company announced that it has been awarded a 7-year contract by Innogy SE to manage their data center and cloud services. Innogy SE is an established European energy company. The announcement was made before market hours today, 15 September 2017.

Separately, Wipro announced that it has joined The Linux Foundation as a Silver Member. The Linux Foundation is a nonprofit organization enabling mass innovation through open source technologies. Wipro has identified open source technologies as one of the strategic client themes to drive transformation across the enterprise. The announcement was made after market hours yesterday, 14 September 2017.

Vedanta lost 0.31% at Rs 318.60 after the company said that following a breach in the Ash Pond dyke wall at Jharsuguda at the end of August, the State Pollution Control Board, Odisha (SPCB) on 13 September 2017 served a direction resulting in a temporary closure of three units of 135 megawatts (MW) each of the 1,215 MW power plant, and two units of 600 MW each of the 2,400 MW power plant. The remaining units of the 1,215 MW plant have been allowed to operate until 12 October 2017, and the remaining units of the 2,400MW plant have been allowed to operate until 20 September 2017.

The SPCB has asked the company for compliance of certain conditions with a concrete plan within 5 days. The company is complying with the order of SPCB along with a request for revoking the said closure orders. This action may require a temporary power purchase of upto 200 MW, and hence a marginal impact on cost of production of aluminium. The company expects to be able to sustain the smelter capacity without affecting its production volume.

Vedanta said it is working towards the lifting of the SPCB closure orders at the earliest, to ensure that aluminium production is not affected. The announcement was made after market hours yesterday, 14 September 2017.

The India Meteorological Department (IMD) in its weekly weather report said that for the country as a whole, cumulative rainfall during this year's monsoon upto 13 September has been 6% below the normal rainfall. The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.

Overseas, European and Asian stocks recovered from earlier losses amid geopolitical tensions. As per reports, an unidentified missile launched by North Korea flew over Japan before landing 2,000 km east of Hokkaido. US equities closed mostly lower yesterday, 14 September 2017 after strong inflation data raised the possibility of tighter monetary policy from the Federal Reserve. However, the Dow index closed at its record high.

In the economic news, the US initial jobless claims fell by 14,000 to 284,000 from the previous week's unrevised level, figures released by the Labor Department yesterday, 14 September 2017 showed.

Key benchmark indices ended a volatile trading session with small gains. The barometer index, the S&P BSE Sensex, rose 55.52 points or 0.17% to settle at 32,241.93. The Nifty 50 index advanced 7.30 points or 0.07% to settle at 10,086.60. The Sensex has risen for the sixth straight session.

Pharma stocks surged with the S&P BSE Healthcare index topping the BSE's 19 sectoral indices. Bank stocks edged higher. Jubilant FoodWorks advanced after the company reassured that all its food ingredients are safe for consumption. Reliance Communications dropped after the Indian unit of Sweden's Ericsson has filed insolvency petitions against RCom and two of its subsidiaries before the National Company Law Tribunal (NCLT) in Mumbai.

Key indices opened the session with modest gains tracking overnight gains on Wall Street. Later, indices trimmed gains to trade with small gains till mid-afternoon trade. Indices closed the session with small gains amid slight volatility in the late trade.

The Sensex rose 55.52 points or 0.17% to settle at 32,241.93, its highest closing level since 7 August 2017. It rose 142.20 points, or 0.44% at the day's high of 32,328.61. It advanced 0.43 points at the day's low of 32,186.84.

The Nifty advanced 7.30 points or 0.07% to settle at 10,086.60, its highest closing level since 12 September 2017. It rose 47.20 points, or 0.47% at the day's high of 10,126.50. It fell 8.95 points, or 0.09% at the day's low of 10,070.35.

Among secondary barometers, the BSE Mid-Cap index rose 0.57%. The BSE Small-Cap index advanced 0.64%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was positive. On BSE, 1,313 shares rose and 1,307 shares fell. A total of 148 shares were unchanged.

The total turnover on BSE amounted to Rs 3424.92 crore, lower than turnover of Rs 3571.86 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Healthcare index (up 2.11%), the BSE Bankex index (up 0.45%) and the BSE Power index (up 0.83%) outperformed the Sensex. The BSE Telecom index (down 0.2%), the BSE Metal index (down 0.67%) and the BSE Oil & Gas index (down 0.31%) underperformed the Sensex.

Bank stocks edged higher. Among public sector banks, Bank of India (up 2.72%), Punjab National Bank (up 1.65%), IDBI Bank (up 1.53%), Bank of Baroda (up 1.36%) and State Bank of India (up 0.2%) gained. Central Bank of India (down 3.29%) and Indian Overseas Bank (down 3.27%) declined.

Among private sector banks, Axis Bank (up 4.2%), ICICI Bank (up 0.65%), Yes Bank (up 0.59%) and HDFC Bank (up 0.03%) edged higher. Kotak Mahindra Bank (down 1.17%) and IndusInd Bank (down 0.87%) declined.

Pharma stocks surged. Divi's Laboratories (up 4.95%), Sun Pharmaceutical Industries (up 4.24%), Cipla (up 1.89%), Dr Reddy's Laboratories (up 1.81%), Lupin (up 1.15%), Aurobindo Pharma (up 0.91%) and Alkem Laboratories (up 0.19%) advanced. Wockhardt (down 0.54%) and Cadila Healthcare (down 0.07%) declined.

State-run Bharat Heavy Electricals (Bhel) rose 3.66% at Rs 137.40 after report suggested that the company and Kawasaki will make rolling stock for the country's first bullet train from Ahmedabad to Mumbai. Prime Minister Narendra Modi and Japanese PM Shinzo Abe laid the foundation stone for Rs 1.1 lakh crore bullet train project today, 14 September 2017. Railways Minister Piyush Goyal said that PM Modi wants the train to start a year ahead of schedule, on 15 August 2022, when India completes 75 years of Independence.

IT major Wipro fell 4.1% to Rs 283.90. The company said that it has become the official technology partner to McLaren Technology Group to help drive digitalization across its businesses. The announcement was made before market hours today, 14 September 2017.

Separately, Wipro said after market hours yesterday, 13 September 2017, that it has joined Hyperledger to design and develop open source-based blockchain solutions for enterprise grade blockchain deployments.

Jubilant FoodWorks rose 3.88% to Rs 1,372.70 after the company reassured that all its food ingredients are safe for consumption. The company issued the clarification after market hours yesterday, 13 September 2017, with respect to news report suggesting that live bugs were found in Domino's Pizza seasoning sachet.

Jubilant FoodWorks said that it has not received any other complaint of this nature. The news report was with respect to a consumer complaint received on 11 September 2017, regarding oregano sachets, supplied by one of its vendors, in an outlet in Gurugram. The company has since carried out a comprehensive inspection across vendors and stores and gave the above reassurance. The company said that it values its consumers experience and would like to reassure all its consumers about best quality products, service and a great Domino's experience at all times.

Apex Frozen Foods was locked at 5% upper circuit at Rs 309.80, with the stock extending recent strong rally post its debut on the bourses. Apex Frozen Foods had settled at Rs 209.85 on BSE, a premium of 19.91% over the issue price of Rs 175 on its debut on the stock exchanges on 4 September 2017. The stock has jumped 77.02% in nine sessions to its ruling price, from the issue price of Rs 175.

Reliance Communications (RCom) fell 1.15% to Rs 21.55 after the Indian unit of Sweden's Ericsson has filed insolvency petitions against RCom and two of its subsidiaries before the National Company Law Tribunal (NCLT) in Mumbai. Network services provider Ericsson India, an operational creditor to RCom, has sought the intervention of the tribunal for recovering dues totalling about Rs 1154 crore from RCom and subsidiaries Reliance Infratel and Reliance Telecom, the Anil Ambani-led company said in a stock exchange filing after market hours yesterday, 13 September 2017.

RCom owes Rs 491.41 crore and Reliance Infratel and Reliance Telecom owe Rs 534.75 crore and Rs 129.34 crore, respectively to Ericsson India. The company intends to challenge the said petitions, RCom stated. NCLT will take up the petition on 26 September 2017.

Sobha rose 0.19% at Rs 401. The company announced after market hours yesterday, 13 September 2017 that its board of directors approved the buyback of up to 14.58 lakh equity shares representing up to 1.5% of the total paid-up equity share capital of the company at a price of Rs 425 per equity share.

On macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 3.24% (provisional) for August 2017, compared with 1.88% (provisional) in July 2017 and 1.09% in August 2016. The data was announced during trading hours today, 14 September 2017.

Overseas, most European stocks declined as investors assessed geopolitical developments and looked ahead to the Bank of England's latest policy decision. Asian stocks witnessed a mixed trend after disappointing economic data out of China. China's National Bureau of Statistics said the world's second-largest economy saw 6% annual growth in its industrial output in August, slower than 6.4% growth in July. Retail sales expanded 10.1% on year in August, compared with 10.4% in July. The data suggested that China's economy continued to cool.

Investors are waiting for the latest updates on the US economy ahead of the Federal Reserve meeting due next week. Later in the global day today, the US Labor Department is scheduled to release reports on consumer price for August and the number of people who applied for unemployment benefit last week.

US market edged higher overnight, but trading was subdued as investors searched for catalysts that could breathe new life into the rally.

The Sensex has risen 579.96 points or 1.83% in six straight trading sessions at today's settlement, from its closing of 31,661.97 on 6 September 2017.

Key benchmark indices closed with divergent trend after a highly volatile trading session. The barometer index, the S&P BSE Sensex, rose 27.75 points or 0.09% to settle at 32,186.41. The Nifty 50 index fell 13.75 points or 0.14% to settle at 10,079.30. Index heavyweight Reliance Industries (RIL) hit a record high level in intraday trade. The Sensex gained for fifth day in a row while the Nifty snapped 4-day gains today, 13 September 2017.

Trading was volatile throughout the day. Key benchmark indices, which opened lower, gradually rose to hit their fresh intraday highs in mid-afternoon highs. The indices, which were unable to sustain at higher levels, wiped off day's gains and hit fresh intraday low in late trade. The BSE Sensex, however, bounced back at the fag end of the trading sessions, while the Nifty ended lower.

The Sensex rose 27.75 points or 0.09% to settle at 32,186.41. The Sensex rose 189.64 points, or 0.59% at the day's high of 32,348.30 in mid-afternoon trade, its highest intraday level since 8 August 2017. The index fell 31.89 points, or 0.10% at the day's low of 32,126.77 in late trade.

The Nifty 50 index fell 13.75 points or 0.14% to settle at 10,079.30. The Nifty rose 38.40 points, or 0.38% at the day's high of 10,131.45 in mid-afternoon trade, its highest intraday level since 2 August 2017. The index fell 29.90 points, or 0.30% at the day's low of 10,063.15 in late trade.

Among secondary barometers, the BSE Mid-Cap index fell 0.69%. The BSE Small-Cap index fell 0.59%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 1,595 shares fell and 1,009 shares rose. A total of 161 shares were unchanged.

The total turnover on BSE amounted to Rs 3560.94 crore, lower than turnover of Rs 3762.51 crore registered during the previous trading session.

Among the sectoral indices on BSE, the BSE Bankex (up 0.17%), the BSE Healthcare index (up 1.15%) and the BSE Energy index (up 0.24%) outperformed the Sensex. The BSE Materials index (down 0.97%), the BSE FMCG index (down 1.03%) and the BSE Oil & Gas index (down 1.7%) underperformed the Sensex.

Index heavyweight Reliance Industries (RIL) rose 3.13% at Rs 849.10. The stock hit a record high of Rs 859.25 in intraday today, 13 September 2017.

Private bank stocks saw mixed trend. HDFC Bank (up 0.46%), Axis Bank (up 0.66%) and IndusInd Bank (up 0.04%) gained. Yes Bank (down 0.56%), Kotak Mahindra Bank (down 0.23%) and RBL Bank (down 1.01%), fell.

ICICI Bank rose 0.21%. The bank said that the Committee of Executive Directors of the bank at its meeting held yesterday, 12 September 2017 has approved the proposal for fund raising by way of issuance of Basel III compliant unsecured subordinated perpetual Additional Tier 1 Bonds. The announcement was made after market hours yesterday, 12 September 2017.

PSU bank stocks rose. Syndicate Bank (up 2.47%), Andhra Bank (up 0.57%), Punjab National Bank (up 0.99%), Bank of Baroda (up 1.55%), Canara Bank (up 0.58%), Bank of India (up 2.51%) and Union Bank of India (up 1.34%) gained. IDBI Bank (down 1.42%) fell.

State Bank of India fell 0.05%. The bank said that the price band of the initial public offer 12 crore shares of its subsidiary, SBI Life Insurance has been fixed at Rs 685 to Rs 700 per share. The announcement was made after market hours yesterday, 12 September 2017.

State-run power firm NTPC fell 0.59% at Rs 168.90. NTPC announced during trading hours today, 13 September 2017, that Unit 2 of 660 megawatts (MW) of Mouda Super Thermal Station, Stage-II (2 X 660 MW) will be declared on commercial operation from 18 September 2017. Further, Unit 1 of 660 MW of Solapur Super Thermal Station (2 X 660 MW) will be declared on commercial operation from 25 September 2017. With this, the commercial capacity of NTPC would become 42892 MW and that of NTPC Group would cross 50 GW and become 50108 MW.

Tata Motors rose 0.67% to Rs 389.80 after the company said that group global wholesales including Jaguar Land Rover, rose 9% at 94,210 units in August 2017 over August 2016. The announcement was made after market hours yesterday, 12 September 2017.

Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range rose 17% at 35,352 units in August 2017 over August 2016. Global wholesales of all passenger vehicles rose 5% at 58,858 units in August 2017 over August 2016. Global wholesales for Jaguar Land Rover (JLR) were 44,420 vehicles (JLR number for August 17 includes CJLR volumes of 7,026 units). Jaguar wholesales for the month were 10,978 vehicles, while Land Rover wholesales for the month were 33,442 vehicles. CJLR is a joint venture between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

Dr Reddy's Laboratories gained 2.09% to Rs 2,210.10 after the company said that its wholly owned subsidiary has started phase II trials of cancer drug. The announcement was made after market hours yesterday, 12 September 2017.

Aurigene Discovery Technologies, a wholly owned subsidiary of Dr Reddy's Laboratories, and Curis Inc., announced CA-170 program update following data presented at ESMO 2017. They announced plans to initiate a phase 2 trial of CA-170, a PDL 1-VISTA inhibitor to be conducted at sites in India. The announcement was made following the presentation of preliminary data from the initial 34 patients with cancer treated in the dose escalation stage of phase 1 trial of CA-170 at the European Society for Medical Oncology 2017 Congress by Aurigene's collaborator and licensee of CA-170, Curis Inc., a biotechnology company focused on the development and commercialisation of innovative and effective therapeutics for the treatment of cancer. The trial has been conducted in the USA, South Korea and Spain.

Telecom major Bharti Airtel fell 0.96% to Rs 401. The company during trading hours today, 13 September 2017, announced a strategic partnership with SK Telecom, Korea's largest telecommunications company, under which, Airtel will leverage SK Telecom's expertise to build the most advanced telecom network in India.

The partnership will work across several areas including developing bespoke software to dramatically improve network experience, leveraging advanced digital tools including machine learning, big data and building customized tools to improve network planning based on every customer's device experience. The capacity to identify, monitor and deliver improvements to the network experience on an individual device basis will be a first in India, helped by SK Telecom's global leadership in this area.

Capital First fell 1.06%. The Reserve Bank of India notified increase in the foreign investment limit from 24% to 50% in the company. The Reserve Bank of India made the announcement after market hours yesterday, 12 September 2017. The stock had gained 4.67% to Rs 808.30 yesterday, 12 September 2017.

The Reserve Bank of India notified that the foreign investment limit for investment by foreign institutional investors (FIIs)/ foreign portfolios investors (FPIs) in Capital First has increased from 24% to 50% of its paid up capital. Further, owing to the increase in the above investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in Capital First has gone below the prescribed FIIs/FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares of the above company by FIIs/FPIs, was withdrawn with immediate effect.

On macro front, India's industrial production rose 1.2% in July 2017 over July 2016, while snapping 0.2% decline for June 2017. The growth for June 2017 has been revised downwards to -0.2% from -0.1% reported earlier. The data was unveiled after market hours yesterday, 12 September 2017.

The all-India general consumer price index (CPI)-based inflation accelerated to 3.36% in August 2017, compared with 2.36% in July 2017. The data was unveiled after market hours yesterday, 12 September 2017.

Overseas, most European markets were trading higher. Most Asian stocks ended lower. All three major US stock indexes booked all-time closing highs on Tuesday, 12 September 2017. It marks the first time all three benchmarks finished at records on the same day since 26 July 2017. The Dow Jones Industrial Average rose 61.49 points, or 0.3%, to finish at 22,118.86. The S&P 500 added 8.37 points, or 0.3%, to close at 2,496.48. The Nasdaq Composite Index finished up 22.02 points, or 0.3%, at 6,454.28.

Key benchmark indices spurted as positive global cues boosted investors' sentiment on the domestic bourses. The barometer index, the S&P BSE Sensex, gained 276.50 points or 0.87% to settle at 32,158.66. The Nifty 50 index gained 87 points or 0.87% to settle at 10,093.05. The Sensex settled above the psychologically important 32,000 mark. Key equity benchmarks gained for fourth day in a row today, 12 September 2017. All the nineteen sectoral indices on BSE were in the green.

Bank stocks rose. Realty stocks gained. Engineering and construction major L&T rose after its construction arm won orders worth Rs 2525 crore across various business segments.

The Sensex gained 276.50 points or 0.87% to settle at 32,158.66, its highest closing level since 7 August 2017. The Sensex rose 290.30 points, or 0.91% at the day's high of 32,172.46 in late trade. The index rose 68.08 points, or 0.21% at the day's low of 31,950.24 in morning trade.

The Nifty 50 index gained 87 points or 0.87% to settle at 10,093.05, its highest closing level since 1 August 2017. The Nifty rose 91.50 points, or 0.91% at the day's high of 10,097.55 in late trade. The index rose 22 points, or 0.22% at the day's low of 10,028.05 in morning trade.

Among secondary barometers, the BSE Mid-Cap index rose 1.08%. The BSE Small-Cap index rose 1.01%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,455 shares rose and 1,146 shares fell. A total of 157 shares were unchanged.

The total turnover on BSE amounted to Rs 3759.68 crore, lower than turnover of Rs 3814.14 crore registered during the previous trading session.

All the nineteen sectoral indices on BSE were in the green. The BSE FMCG index (up 1.24%), the BSE Healthcare index (up 1.68%) and the BSE Realty index (up 2.11%) outperformed the Sensex. The BSE Teck index (up 0.57%), the BSE Bankex (up 0.36%) and the BSE IT index (up 0.48%) underperformed the Sensex.

Bank stocks rose. Among private bank stocks, HDFC Bank (up 0.39%), Kotak Mahindra Bank (up 1.38%), RBL Bank (up 0.84%), Axis Bank (up 0.22%) and Yes Bank (up 0.61%) rose. IndusInd Bank (down 2.88%) declined.

ICICI Bank rose 0.17%. The bank said that the committee of executive directors constituted by the board of the bank is scheduled to have a meeting on 12 September 2017 to consider fund raising by way of issuance of Basel III compliant unsecured subordinated perpetual additional Tier 1 bonds in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 11 September 2017.

Jammu & Kashmir Bank rose 2.2% to Rs 81.30 after the bank said that it has revised lower the interest rate on saving bank deposit accounts with effect from 12 September 2017. The announcement was made during market hours today, 12 September 2017. Jammu & Kashmir Bank said that interest rate on domestic/non-resident ordinary/non-resident external rupee savings bank deposits have been reduced from 4% per annum to 3.5% per annum.

Among PSU bank stocks, State Bank of India (SBI) (up 0.98%), Punjab National Bank (up 2.35%), Bank of Baroda (up 2.94%), Canara Bank (up 1.23%), IDBI Bank (up 0.62%), Bank of India (up 1.33%) and Union Bank of India (up 1.16%) gained.

Andhra Bank rose 1.56%. The bank said that the interest rates on savings bank deposits of the bank have been revised with effect from 15 September 2017. Deposits upto Rs 50 lakh will have interest of 3.5% per annum and above Rs 50 lakh will be 4% per annum. The announcement was made after market hours yesterday, 11 September 2017.

Engineering and construction major L&T rose 0.94% to Rs 1,228.35. The company announced during trading hours today, 12 September 2017, that its construction arm won orders worth Rs 2525 crore across various business segments.

State-run oil marketing company BPCL rose 4.33% to Rs 534.70. The company announced during trading hours today, 12 September 2017, that the Government of India conferred BPCL with Maharatna Status. Accordingly, BPCL is empowered to exercise the powers of a Maharatna Company as governed by relevant guidelines issued by Department of Public Enterprises.

Strides Shasun rose 0.71% to Rs 947.95 after the company said it has received approval from the United States Food and Drug Administration (USFDA) for Potassium Citrate Extended-Release Tablets USP, 5 mEq, 10 mEq and 15 mEq. The product, which is the first approval for an Extended Release tablet for the company, will be launched immediately. Strides Shasun will be the second generic player to commercialize the product. Potassium Citrate, a urinary alkalinizing agent, is used for preventing certain types of kidney stones. According to IMS data, the US market for Potassium Citrate is about $110 million. The announcement was made before market hours today, 12 September 2017.

State-run NTPC fell 0.38% to Rs 169.75. The company said that 40 megawatts (MW) out of 50 MW of Rojmal Wind Energy Project of NTPC in Gujarat has been commissioned. With this, the total installed capacity of NTPC on standalone basis has become 44482 MW and that of NTPC group has become 51698 MW. The announcement was made after market hours yesterday, 11 September 2017. Further, the company said that Unit 2 of 250 MW of Nabinagar Thermal Power Project (4 X 250 MW) of Bhartiya Rail Bijlee Company (BRBCL), a subsidiary of NTPC is declared on commercial operation on 10 September 2017. With this, the commercial capacity of BRBCL and NTPC group has become 500 MW and 48788 MW respectively.

Tata Steel rose 3.3% to Rs 683.15. The company announced after market hours yesterday, 11 September 2017, that Tata Steel UK has received confirmation from The Pensions Regulator that it has approved a Regulated Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme (BSPS). The BSPS has now been separated from Tata Steel UK and a number of affiliated companies. As part of the RAA, a payment of 550 million pounds from Tata Steel UK has been made to the BSPS and shares in Tata Steel UK, equivalent to a 33% economic equity stake in the company, have been issued to the BSPS Trustee under the terms of a shareholders' agreement.

Tata Steel UK has also agreed to sponsor a proposed new pension scheme, subject to certain qualifying conditions being met. Now the RAA has completed, all members of the BSPS will be invited to transfer to the new scheme. If the qualifying conditions are met, members who choose to will transfer to the new scheme. The new scheme would have lower future annual increases for pensioners and deferred members than the British Steel Pension Scheme, giving it an improved funding position which would pose significantly less risk for Tata Steel UK. The BSPS Trustee will, in due course, communicate with all scheme members about the separation and the proposed new pension scheme.

Realty stocks gained. Peninsula Land (up 9.91%), Sunteck Realty (up 7.02%), DLF (up 1.87%), Housing Development and Infrastructure (up 1%), D B Realty (up 1.84%), Godrej Properties (up 8.54%) and Oberoi Realty (up 0.9%) rose. Prestige Estates Projects (down 0.72%), Unitech (down 0.13%) and Sobha (down 0.02%) fell.

Indiabulls Real Estate gained 2.88% after the company said that it has through its wholly-owned subsidiary, Ashkit Properties, acquired a prime commercial land admeasuring 13,519 square meters on National Highway 8, Plot No 20, situated in Sector 18, Urban Estate, Gurugram. The announcement was made after market hours yesterday, 11 September 2017.

The land is situated at a developed prime commercial location, where many leading multi-nationals are operating in nearby vicinity, and will be developed as a commercial complex with an expected leasable area of around 5 lakh square feet. The construction of 5 lakh square feet of new office buildings is expected to finish by March 2019. This addition of new office space will further enhance the annuity revenue to Rs 1421 crores in FY 2020-21 from the rental properties portfolio of the company.

NBCC (India) rose 2.57% to Rs 213.30 after the company said it was awarded two contracts in the capacity of project management consultant. The announcement was made during market hours today, 12 September 2017.

NBCC (India) said that it has been awarded contracts wherein the company is working as project management consultant and will get project management consultancy fee on the project cost at the rate of 6.5% and revenue booking from the projects will start from September 2017.

The first project entails redevelopment of ITPO Complex into integrated sxhibition-cum-convention centre (IECC) at Pragati Maidan, New Delhi to Shapoorji Pallonji and Co. - Shapoorji Pallonji Qatar W.L.L (JV) for around Rs 2149.93 crore with completion period of two years.

The second project comprises of canal work including cross drainage structures & design for Gosikhurd National Project in Bhandara, Nagpur and Chandrapur Districts of Maharashtra to Punj Lloyd for around Rs 870.15 crore with completion period of eighteen months.

Ucal Fuel Systems lost 5.75% after net profit fell 53.4% to Rs 3.79 crore on 9.1% decline in net sales to Rs 124.75 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 11 September 2017.

Emami Infrastructure was locked at 5% upper circuit at Rs 195.40 after the company reported net profit of Rs 3.21 crore in Q1 June 2017 compared with net loss of Rs 2.19 crore in Q1 June 2016. Total revenue rose 3.65% to Rs 29.76 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 12 September 2017.

Overseas, most European stocks were trading higher after stocks in Asia and in the US hit record highs as worries about Hurricane Irma and North Korea's nuclear standoff eased.

US stocks closed sharply higher on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average closed about 259.58 points, or 1.2%, higher at 22,057.37, while the S&P 500 index climbed 1.1% at 2,488.11, marking a fresh record for the broad-market gauge. The Nasdaq Composite Index rallied 1.1% at 6,432.26, and ended within range of its all-time closing high.

Key benchmark indices logged modest gains on positive global cues. The barometer index, the S&P BSE Sensex, gained 194.64 points or 0.61% to settle at 31,882.16. The Nifty 50 index advanced 71.25 points or 0.72% to settle at 10,006.05. Key equity benchmark gained for third day in a row. The Nifty settled above the the psychologically important 10,000 mark.

PSU bank stocks saw mixed trend. Private bank stocks rose. Capital goods stocks edged higher. Most auto stocks rose after getting relief from the less than expected hike in cess on cars and SUVs by the GST Council. Cement stocks were in demand.

The Sensex gained 194.64 points or 0.61% to settle at 31,882.16, its highest closing level since 1 September 2017. The Sensex rose 265.35 points, or 0.84% at the day's high of 31,952.87 in mid-afternoon trade. The index rose 110.37 points, or 0.35% at the day's low of 31,797.89 in early trade.

The Nifty 50 index advanced 71.25 points or 0.72% to settle at 10,006.05, its highest closing level since 7 August 2017. The Nifty rose 93.85 points, or 0.94% at the day's high of 10,028.65 in late trade. The index rose 34 points, or 0.34% at the day's low of 9,968.80 in early trade.

Among the sectoral indices on BSE, the BSE Finance index (up 0.99%), the BSE Utilities index (up 1.86%) and the BSE Capital Goods index (up 2.6%) outperformed the Sensex. The BSE Teck index (down 0.13%), the BSE IT index (down 0.14%) and the BSE Telecom index (down 0.24%) underperformed the Sensex.

Among secondary barometers, the BSE Mid-Cap index rose 0.71%. The BSE Small-Cap index rose 0.77%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,412 shares rose and 1,218 shares fell. A total of 199 shares were unchanged.

The total turnover on BSE amounted to Rs 3801.29 crore, higher than turnover of Rs 3798.70 crore registered during the previous trading session on Friday, 8 September 2017.

PSU bank stocks saw mixed trend. State Bank of India (SBI) (down 0.4%), UCO Bank (down 3.11%), IDBI Bank (down 0.09%) and Corporation Bank (down 1.01%) fell. Punjab National Bank (up 0.18%), Bank of Baroda (up 0.58%), Canara Bank (up 0.63%), Bank of India (up 1.2%) and Union Bank of India (up 1.49%) rose.

Private bank stocks rose. HDFC Bank (up 1.95%), Kotak Mahindra Bank (up 0.39%), RBL Bank (up 0.15%) and Yes Bank (up 2.97%) gained. ICICI Bank (down 0.34%) and Axis Bank (down 0.01%) fell.

IndusInd Bank rose 5.56% to Rs 1,790.65. Bharat Financial Inclusion 3.34% to Rs 967.25. IndusInd Bank said that it has entered into an exclusivity agreement with Bharat Financial Inclusion to have an exclusive discussion about the proposed potential strategic combination. The announcements were made by IndusInd Bank and Bharat Financial Inclusion, separately, before market hours today, 11 September 2017.

IndusInd Bank and Bharat Financial Inclusion, separately, said that they have entered into an exclusivity agreement for agreeing to have an exclusive discussion about the proposed potential strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure. The agreement primarily provides for confidentiality of information/discussion and finalisation of the terms and conditions relating to the proposed transaction with a view to entering into a definitive documentation after the necessary approvals. The proposed transaction would be subject to due diligence, approval of the boards, shareholders, statutory/regulatory and other third party approvals as may be required under the applicable laws.

Capital goods stocks edged higher. L&T (up 3.8%), Siemens (up 4.14%), ABB India (up 1.71%), BEML (up 0.45%) and Bharat Electronics (up 1.86%) gained. Thermax (down 0.19%) fell.

Bharat Heavy Electricals (Bhel) rose 2.15%. The company announced that it has fixed 30 September 2017 as the record date for the purpose of issuance of 1:2 bonus issue. The announcement was made after market hours on Friday, 8 September 2017.

Pharma major Lupin rose 0.98% to Rs 977.65. The company announced during market hours today, 11 September 2017, that it has received final approval for its Doxycycline Hyclate Tablet USP, 100 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Pfizer Inc's Vibra-Tabs, 100 mg. Lupin's Doxycycline Hyclate Tablet USP, 100 mg is the AB rated generic equivalent of Pfizer Inc.'s Vibra-Tabs, 100 mg. It is indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne. Doxycycline Hyclate Tablet USP, 100 mg had US sales of $149.9 million IMS MAT June 2017).

Most auto stocks rose after getting relief from the less than expected hike in cess on cars and SUVs by the GST Council. Maruti Suzuki India (up 2.41%), Ashok Leyland (up 1.09%), Escorts (up 0.87%), TVS Motor Company (up 0.61%) and Bajaj Auto (up 0.56%) edged higher. Hero MotoCorp (down 0.33%) and Eicher Motors (down 0.5%) edged lower.

The Goods and Services Tax (GST) Council at its meeting held on Saturday, 9 September 2017, raised the vehicle cess in the range of 2-7%, which is less than 10% maximum possible hike stated in the ordinance. The GST Council left untouched the rates on small cars and hybrid vehicles. But mid-sized cars now attract a cess that's 2% higher, larger sedans 5%, and SUVs 7%. Initially, the cess was proposed to be raised by a maximum of 10%. The revised rates mean a partial reversal of the price benefits buyers initially enjoyed in the immediate aftermath of the GST's July 1 introduction. Still, the total tax incidence on vehicles in the mid-sized, large and SUV categories will be lower by 1.6%, 3.8% and 5.3%, respectively, compared to pre-GST levies, reports suggested.

Auto major Tata Motors rose 0.09% to Rs 375.40. With reference to news report captioned, Workers' protest for pay hike at Tata Motors' Jamshedpur plant continues, Tata Motors clarified during trading hours today, 11 September 2017, that the information is not considered material as the said protest was limited to a very small section of temporary workers at Jamshedpur works and there will be no loss of production for the month. The statement carried in the media is incorrect. We would like to clarify that production at Jamshedpur is going on. A section of temporary workers instigated by some vested interests had staged a protest. In our continued commitment to maintain cordial relations with the workforce and in the long term interest of the organisation, the Company has successfully concluded its discussions with the concerned workers. These workers have ended the protest and the matter stands resolved.

Mahindra & Mahindra fell 1.1% at Rs 1,280.50. The company announced the launch on e-Alfa mini electric rickshaw for passenger movement on 8 September 2017. A complete 3 wheeler, specifically designed for pollution free last mile connectivity, it boasts of the tough and rugged Mahindra DNA. It is attractively priced at Rs 1.12 lakhs (ex-showroom Delhi). The announcement was made after market hours on Friday, 8 September 2017.

IT major Infosys fell 0.66% to Rs 878.55. The company announced during trading hours today, 11 September 2017, that it has completed the acquisition of Brilliant Basics, a London-based product design and customer experience (CX) innovator known for its world-class design thinking-led approach and experience in executing global programs. The acquisition is in accordance with the terms set out in the agreement announced by the company on 3 August 2017. Through this acquisition, Infosys further expands its worldwide connected network of Digital Studios that are focused on fulfilling the needs of global clients for end-to-end Digital Transformation solutions required to meet customer demand for next-generation enhanced customer experiences. The addition of Brilliant Basics extends Infosys' digital design services network to include Europe and the Middle East, and enhances the company's expertise across financial services, retail and telco sectors.

Cement stocks were in demand. UltraTech Cement (up 0.94%), Shree Cement (up 0.12%), Ambuja Cements (up 1.26%) and ACC (up 0.2%) edged higher.

Grasim Industries rose 1.93%. Grasim has exposure to cement sector through its holding in UltraTech Cement.

Petronet LNG surged 5.8% after the company said that it has renegotiated some terms of agreement for purchase of 1.44 million tonnes per annum of LNG from Mobil Australia Resources Company. The announcement was made during market hours today, 11 September 2017.

Petronet LNG said that it has an agreement for purchase of 1.44 million tonnes per annum (MTPA) of LNG from Mobil Australia Resources Company (LNG Supplier), an affiliate of ExxonMobil Company, for a period of 20 years, from Gorgon project.

Petronet has been under active discussions with the LNG supplier regarding certain commercial aspects under its agreement. The discussions continue in good faith and the parties have reached a broad understanding of terms. The stock exchanges will be informed once the final agreements are executed, the company said.

Reports suggested that the government has renegotiated the pricing of a 20-year contract to import liquefied natural gas from Australia's Gorgon project. A supply glut in the gas market and the bleak prospects for suppliers has opened room for renegotiation, especially with fast-growing gas consumers like India, report added.

Cyient fell 1.39%. The company said that its step down subsidiary, Cyient Defense Services Inc., USA has signed definitive agreement to acquire 100% stake in B&F Design Inc. New Britain, Connecticut, USA, in all cash transaction. The announcement was made on Sunday, 10 September 2017.

Overseas, European stocks were trading higher as market recovered from the European Central Bank's most recent policy statement and as investors continued to track the advancement of Hurricane Irma in the US. European equities had dropped after the ECB signaled last Thursday that information on the tapering of the central bank's asset-purchase program would be delivered in October.

Most Asian shares rose after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile. The United States and its allies had been bracing for another long-range missile launch by North Korea in time for the 69th anniversary of North Korea's founding on Saturday, 9 September 2017.

Investors, however, remained cautious over the possible economic impact of Hurricane Irma in the US as it chewed its way up the Florida coast, knocking out electricity to 3 million homes and businesses statewide.

US equity benchmarks ended Friday, 8 September 2017, on a mixed note, with both the S&P 500 and the Nasdaq Composite in the red but the Dow Jones Industrial Average slightly higher as Hurricane Irma made landfall in Florida over the weekend. Tensions with North Korea also weighed on investors' minds, as the market fears the country will test a ballistic missile to commemorate its founding on Saturday. The S&P 500 slipped 0.1% to 2,462. The tech-focused Nasdaq Composite Index weakened 0.7% to 6,357. The Dow finished the week more or less flat at 21,789.

Trading for the week ended on a positive note as the key benchmark indices settled with small gains in a range-bound session of trade. The barometer index, the S&P BSE Sensex, rose 24.78 points or 0.08% to settle at 31,687.52. The Nifty 50 index rose 4.90 points or 0.05% to settle at 9,934.80. Private bank stocks saw mixed trend. PSU bank stocks declined. Capital goods stocks saw mixed trend.

Stocks drifted higher in early trade led by L&T and HDFC Bank. Key benchmark indices traded mostly with modest gains till early afternoon trade amid intermittent bouts of volatility which saw indices dip slightly into the negative terrain. Stocks hovered near flat line thereafter.

The Sensex rose 24.78 points or 0.08% to settle at 31,687.52, its highest closing level since 5 September 2017. The Sensex gained 100.96 points or 0.32% at the day's high of 31,763.70. The index fell 43.74 points or 0.14% at the day's low of 31,619.

The Nifty rose 4.90 points or 0.05% to settle at 9,934.80, its highest closing level since 5 September 2017. The Nifty gained 33.70 points or 0.34% at the day's high of 9,963.60. The index fell 16.60 points or 0.17% at the day's low of 9,913.30.

The S&P BSE Mid-Cap index fell 0.44%. The S&P BSE Small-Cap index fell 0.14%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,501 shares fell and 1,118 shares rose. A total of 140 shares were unchanged.

The total turnover on BSE amounted to Rs 3784.35 crore, lower than the turnover of Rs 3833.82 crore registered during the previous trading session.

Among the sectoral indices on BSE, the BSE Telecom index (up 0.39%), the BSE Capital Goods index (up 1.88%) and the BSE FMCG index (up 0.46%) outperformed the Sensex. The BSE Healthcare index (down 0.92%), the BSE IT index (down 0.26%), the BSE Bankex index (up 0.03%) and the BSE Power index (down 0.9%) underperformed the Sensex.

Dr Reddy's Laboratories lost 2.93% after the company announced that on 7 September 2017, the Regulatory Authority of Germany (Regierung von Oberbayern), concluded an audit of the company's formulations manufacturing facility in Duvvada, Vishakapatnam, with zero critical and six major observations. Products manufactured at the facility are not currently exported to the European Union (EU). The announcement was made during market hours today, 7 September 2017.

The company said it will submit a Corrective and Preventive Action plan (CAPA) to the authorities. The auditor has cautioned that the facility will receive European Union Good Manufacturing Practice (EU-GMP) certification from the regulator upto November 2018 only when the Regulator approves the CAPA. The facility's compliance with the CAPA and other applicable regulations will be reviewed again by the regulator by the November 2018 for continuation of the facility's EU-GMP certification.

Mahindra & Mahindra lost 3.29% ahead of a GST Council meet scheduled tomorrow, 9 September 2017, with respect to cess hike on SUVs and luxury cars. The government had already notified hike in goods and services tax (GST) cess on a range of cars from mid-size to luxury variants to a maximum of 25%, from the earlier 15%.

Eicher Motors shed 0.48% to Rs 32,628.70, extending Thursday's gains on buzz the company is preparing an offer to acquire superbike major Ducati for $1.8 to 2 billion. The stock had hit high of Rs 33,483.95 in intraday trade, which is also a record high. Reports suggested that Eicher is close to making a binding offer to acquire Italian superbikes Ducati for around $1.8 to 2 billion. The deal is being valued at 14-15 times Ducati's earnings before interest, taxes, depreciation and amortisation (EBITDA) of about 100 million euro, reports added.

Private bank stocks saw mixed trend. Axis Bank (down 0.65%), IndusInd Bank (down 0.38%) and Yes Bank (down 0.76%) declined. HDFC Bank (up 0.98%), Kotak Mahindra Bank (up 1.22%) and RBL Bank (up 0.42%) rose.

ICICI Bank fell 0.24%. The bank said it has fixed the price band for the proposed initial public offer (IPO) of its insurance subsidiary viz. ICICI Lombard General Insurance Company at Rs 651 to 661 per share. The announcement was made after market hours yesterday, 7 September 2017.

PSU bank stocks declined. Vijaya Bank (down 3.59%), Andhra Bank (down 2.31%), State Bank of India (SBI) (down 0.93%), Punjab National Bank (down 1.04%), Bank of Baroda (down 1.87%), Canara Bank (down 1.5%), Bank of India (down 2.01%) and Union Bank of India (down 2.09%) dropped.

IDBI Bank rose 0.99% after the bank said that its board approved divesting bank's stake in Sidbi. As on 28 August 2017, IDBI Bank held 8.64 crore shares, or 16.25% stake in Small Industries Development Bank of India (Sidbi). The announcement was made during trading hours today, 8 September 2017.

Sidbi acts as the principal financial institution for the promotion, financing and development of the micro, small and medium enterprise sector and for co-ordination of the functions of the institutions engaged in similar activities.

Capital goods stocks saw mixed trend. L&T (up 4.07%), Siemens (up 0.43%) and Thermax (up 0.49%) gained. Bharat Electronics (down 2.86%), Bharat Heavy Electricals (Bhel) (down 2.07%) and BEML (down 1.59%) fell.

Punj Lloyd rose 3.96% after the company said it received the Letter of Award (LoA) for construction and commissioning of balance/left out canal work, including cross drainage structures and design, for Gosikhurd National project in Bhandara, Nagpur and Chandrapur districts of Maharashtra for VIDC, Phase - I / Pkg - I by NBCC (India) for a total contract value of Rs 870.15 crore. The announcement was made after market hours yesterday, 7 September 2017.

Biocon rose 2.16% after the company said that its insulin facility in Malaysia received compliance certificate. The announcement was made after market hours yesterday, 7 September 2017.

Biocon said its subsidiary in Malaysia, Biocon Sdn. Bhd., received a certificate of 'GMP (Good Manufacturing Practice) Compliance' for its Insulins manufacturing facility by the HPRA (Ireland) as the representative European inspection authority. The certificate of GMP compliance reflects that the agency considered the site to be in compliance with the principles and guidelines of Good Manufacturing Practices for active substances, sterile drug products and quality control testing operations. Biocon's Malaysia facility was inspected by the EMA (European Medicines Agency) in April 2017.

Cadila Healthcare fell 1.89%. The company said that at the end of inspection of its Moraiya facility from 31 August to 7 September 2017 by the US drug regulator, no observation (483) was issued to the company. The clarification was issued on news report after market hours yesterday, 7 September 2017.

Repro India lost 4.76% to Rs 684.25, with the stock sliding on profit booking after recent rally. Shares of Repro India had rallied 27.12% in the preceding five trading sessions to settle at Rs 718.45 yesterday, 7 September 2017, from its close of Rs 565.15 on 31 August 2017.

GTPL Hathway rose 4.16% after the Reserve Bank of India notified after market hours yesterday, 7 August 2017, that the Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) investment limit under Portfolio Investment Scheme in GTPL Hathway has increased from 24% to 49% of its paid up capital.

CCL Products (India) rose 6.32% after the Reserve Bank of India notified after market hours yesterday, 7 August 2017, that the foreign investment limit for investment by Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in CCL Products (India) has increased from 24% to 40% of its paid up capital.

Further, owing to the above increase in the above investment limit, it is notified that the aggregate shareholding by FIIs/FPIs in CCL Products (India) has gone below the prescribed FIIs/FPIs investment limit for the company. Hence, the restrictions placed on the purchase of shares of CCL Products (India) by FIIs/FPIs, are withdrawn with immediate effect.

Meanwhile, India Meteorological Department (IMD) said that cumulative area weighted rainfall for the country as a whole till 5 September 2017 was 5% below normal. The quantum of the rainfall and its spatial and temporal distribution are critical for the country's agriculture. Around 70% of the country's farmlands are rain-fed.

Overseas, European stocks were trading lower as investors eye the impact of Hurricanes Harvey, Irma and Jose. The European Central Bank (ECB) held interest rates steady at 0% yesterday, 7 September 2017. ECB President Mario Draghi said the central bank would be prepared to make a decision on its quantitative easing program at its October meeting. For now, the central bank's net asset purchases of 60 billion euro a month would continue to the end of the year or beyond, if necessary, Draghi said.

Asian stocks were mixed as investors braced for damage that Hurricane Irma may inflict on Florida. China today, 8 September 2017, reported August exports were up 5.5% from a year ago in dollar terms, while imports were up 13.3% in dollar terms. China also reported August exports were up 6.9% in yuan terms while imports were up 14.4% in yuan terms from a year ago, Chinese customs data showed.

US stock indexes ended slightly lower yesterday, 7 September 2017 as investors sold financials, consumer-discretionary and telecommunication shares. On the data front, the number of Americans filing for unemployment benefits jumped to its highest level in more than two years last week amid a surge in applications in hurricane-ravaged Texas, but the underlying trend remained consistent with a firming jobs market.

Meanwhile, the threat from North Korea lingers. US President Donald Trump said it's not inevitable that the US will wind up in a war with North Korea over its continued development of nuclear weapons, though military action remains an option. Pyongyang may test a missile this weekend to coincide with its founding day on 9 September 2017.

The barometer index, the S&P BSE Sensex, settled almost unchanged while the Nifty 50 index ended with small gains. The barometer index, the S&P BSE Sensex, rose 0.77 points to settle at 31,662.74. The Nifty 50 index gained 13.70 points or 0.14% to settle at 9,929.90. In today's trade, investors' sentiment remained edgy despite firmness in global stocks. Shares of index heavyweight and cigarette major ITC dropped. Metal and mining stocks were in demand on fresh buying.

After opening with small gains on firm Asian stocks, indices continued to pare intraday gains till early afternoon trade. Stocks swung between gains and losses near the flat line later during the session.

The Sensex rose 0.77 points to settle at 31,662.74, its highest closing level since 5 September 2017. The index rose 152.99 points or 0.48% at the day's high of 31,814.96. The index lost 41.53 points or 0.13% at the day's low of 31,620.44.

The Nifty gained 13.70 points or 0.14% to settle at 9,929.90, its highest closing level since 5 September 2017. The index gained 48.65 points or 0.49% at the day's high of 9,964.85. The index gained 1 point or 0.01% at the day's low of 9,917.20.

The S&P BSE Mid-Cap index rose 0.76%. The S&P BSE Small-Cap index gained 0.46%. Both these indices outperformed the Sensex. Both these indices outpaced Sensex's performance for the third straight day.

Among the sectoral indices on BSE, the BSE Auto index (up 0.85%), the Bankex index (up 0.18%) and the BSE Metal index (up 1.41%) outperformed the Sensex. The BSE Telecom index (down 0.75%) and the BSE Oil & Gas index (down 0.39%) underperformed the Sensex.

The breadth indicating the overall health of the market was positive. On BSE, 1,404 shares gained and 1,171 shares fell. A total of 161 shares were unchanged.

The total turnover on BSE amounted to Rs 3831.34 crore, higher than the turnover of Rs 3362.72 crore registered during the previous trading session.

Index heavyweight and cigarette major ITC lost 1.89% to Rs 270.35. The stock had hit a high of Rs 277.55 and low of Rs 269.60 in intraday trade.

Index heavyweight Reliance Industries (RIL) fell 0.41%. The company said that it had participated in an on-line e-bidding process held recently by Allahabad Bank being leader of the consortium of eleven banks to sell/dispose off assets of Kemrock Industries & Exports of Vadodara, Gujarat and has been declared as the winner in the bid.

This participation is a part of Reliance's efforts to enter the composites business and establish a leadership position in this large and growing market in India. Composites are used in a variety of applications and industries such as renewable energy, mass transportation, infrastructure and a host of other industrial products.

The assets will pave the way for Reliance to foray into new materials (composites and carbon fibre) and further strengthen its petrochemicals business portfolio. The company is in the process of complying with the necessary formalities for acquisition of assets. The announcement was made after market hours yesterday, 6 September 2017.

Metal and mining stocks were in demand on fresh buying. National Aluminium Company (up 12.15%), Hindustan Zinc (up 0.29%), Jindal Steel & Power (up 0.37%), Hindalco Industries (up 2.01%), NMDC (up 2.46%), Hindustan Copper (up 0.77%), Vedanta (up 2.72%), JSW Steel (up 0.71%), Tata Steel (rose 0.48%) and Steel Authority of India (Sail) (up 1.82%) edged higher.

Copper edged lower in the global commodities market. High Grade Copper for December 2017 delivery was currently off 0.65% at $3.1315 per pound on the COMEX.

Realty stocks gained. Indiabulls Real Estate (up 1.07%), DLF (up 0.39%), Housing Development and Infrastructure (up 2.8%), D B Realty (up 0.49%), Sobha (up 2.03%), Godrej Properties (up 0.4%), Prestige Estates Projects (up 1.03%) and Oberoi Realty (up 1.55%) rose. Unitech fell 0.88%.

Most bank stocks also gained. Among public sector banks, UCO Bank (up 0.31%), Syndicate Bank (up 0.78%), Punjab National Bank (up 0.4%), Corporation Bank (up 1.7%), Allahabad Bank (up 0.73%), Bank of Baroda (up 1.01%), Canara Bank (up 0.45%), Bank of India (up 0.87%) and State Bank of India (SBI) (up 0.11%) edged higher. Union Bank of India (down 0.07%) and United Bank of India (down 0.82%) declined.

Among private sector banks, Axis Bank (up 0.53%), HDFC Bank (up 0.61%), Yes Bank (up 0.54%), and IndusInd Bank (up 1.02%) edged higher. ICICI Bank (down 0.86%), Federal Bank (down 0.13%), and Kotak Mahindra Bank (down 0.07%) declined.

Meanwhile, the Sensex has fallen 67.75 points or 0.21% in September so far (till 7 September 2017). The Sensex has risen 5,036.28 points or 18.91% in the calendar year 2017 so far (till 7 September 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 5,944.81 points or 23.11%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 1,023.74 points or 3.13%.

Overseas, European stocks were trading higher before a much-awaited European Central Bank policy meeting. The European Central Bank holds a policy meeting today, 7 September 2017 and investors are keen to see whether it will send a message regarding the timing of an exit from its ultra-loose monetary policy.

In economic data in Europe, German industrial production remained flat in July as slightly increased output in manufacturing and construction was not enough to compensate for a plunge in the energy sector, data showed. France's current-account deficit widened significantly in July, with a significant increase in imports outpacing a slight increase in exports, the French government said. The eurozone's second-largest economy recorded a 4.2 billion-euro ($5.01 billion) current-account deficit in July, compared with EUR2.4 billion in June.

The eurozone economy grew more quickly over the 12 months through June than previously estimated, according to figures released as policy makers at the European Central Bank met to decide what to do with their program of bond purchases. The economy was 2.3% larger in the three months to June than it was in the same period a year earlier, the fastest rate of growth recorded since the first three months of 2011. On an annualized basis, the eurozone economy expanded by 2.6% in the second quarter, an upward revision from the 2.5% rate of growth Eurostat gave as its estimate in August.

Asian stocks rose, tracking overnight gains in the US stocks, following a deal to extend the federal government's borrowing limit for three months. US stock benchmarks closed slightly higher yesterday, 6 September 2017, after congressional leaders and President Donald Trump agreed to extend the debt limit deadline and fund the government through mid-December.

In US economic data, the trade deficit rose slightly in July, keeping the US on track to post a larger gap in 2017 than in 2016. The deficit edged up to $43.7 billion in July from $43.5 billion in June. A reading on services activity, meanwhile, came in better than expected, providing an added lift to the outlook for the health of the US economy. ISM services were at 55.3 in August, compared with 53.9 in the prior period. A reading of at least 50 indicates expansion.

Key benchmark indices registered modest losses in line with drop in global peers as rising geopolitical tensions between the US and North Korea dampened sentiment. The barometer index, the S&P BSE Sensex, fell 147.58 points or 0.46% to settle at 31,661.97. The Nifty index shed 36 points or 0.36% to settle at 9,916.20. The Sensex hit lowest closing level in a week. ITC and Sun Pharmaceutical Industries witnessed selling.

Domestic stocks saw a gap-down opening on negative Asian stocks. Key benchmark indices extended early slide and hit fresh intraday low in morning trade. Indices trimmed losses in afternoon trade after hovering in a narrow range in negative zone amid weakness in European stocks. Stocks continued to hover in negative zone later in the day.

The Sensex fell 147.58 points or 0.46% to settle at 31,661.97, its lowest closing level since 30 August 2017. The index fell 81.70 points or 0.26% at the day's high of 31,727.85. The index lost 223.02 points or 0.7% at the day's low of 31,586.53.

The Nifty shed 36 points or 0.36% to settle at 9,916.20, its lowest closing level since 4 September 2017. The index fell 20.65 points or 0.21% at the day's high of 9,931.55. The index lost 69.65 points or 0.7% at the day's low of 9,882.55.

The S&P BSE Mid-Cap index rose 0.17%. The S&P BSE Small-Cap index gained 0.35%. Both these indices outperformed the Sensex.

Among the sectoral indices on BSE, the BSE FMCG index (down 1.07%), the BSE Healthcare index (down 1.35%) and the BSE Capital Goods index (down 0.59%) underperformed the Sensex. The BSE Auto index (down 0.11%), the BSE Oil & Gas index (down 0.27%) and the BSE Realty index (up 0.16%) outperformed the Sensex.

The market breadth, indicating the overall health of the market was positive. On the BSE, 1,339 shares rose and 1,233 shares fell. A total of 146 shares were unchanged.

The total turnover on BSE amounted to Rs 3360.32 crore, higher than the turnover of Rs 3161.64 crore registered during the previous trading session.

Index heavyweight and cigarette major ITC lost 2.43% to Rs 275.55 after reports of downgrade on the stock by a couple of brokerages. The stock had hit a high of Rs 281 and low of Rs 275 in intraday trade. Cigarette business remains impacted by regulatory pressures and other businesses will see gradual uptick in growth and profitability, a brokerage reportedly said.

Pharma shares declined. Lupin (down 2.05%), Sun Pharmaceutical Industries (down 3.73%), Alkem Laboratories (down 2.42%), Wockhardt (down 1.87%), Cadila Healthcare (down 2.88%), Glenmark Pharmaceuticals (down 0.41%), Cipla (down 0.57%) and Dr Reddy's Laboratories (down 0.53%) declined. GlaxoSmithKline Pharmaceuticals rose 0.29%. Aurobindo Pharma was flat.

Merck rose 4.01% after the company announced that its ultimate holding company, Merck KGaA, Germany, is preparing for strategic options for its consumer health business globally, including a potential full or partial sale of the business as well as strategic partnerships. This strategic initiative would involve the company's consumer health business in India as well, the implementation of potential measures and their specific design are subject to further analysis and decision making by competent bodies, the company said in a statement. The announcement was made after market hours yesterday, 5 September 2017.

Shares of public sector banks declined. State Bank of India (SBI) (down 1.12%), Canara Bank (down 0.71%), Union Bank of India (down 2.4%), Bank of India (down 0.66%), Punjab National Bank (down 3.27%) Syndicate Bank (down 0.69%), Bank of Baroda (down 0.33%), Andhra Bank (down 0.76%), Oriental Bank of Commerce (down 1.02%), and Indian Bank (down 0.84%), declined. Indian Overseas Bank was flat. Dena Bank rose 0.16%.

Shares of private sector banks were mixed. Axis Bank (down 1.79%), ICICI Bank (down 0.86%), and Federal Bank (down 0.49%) declined. HDFC Bank (up 0.19%), Kotak Mahindra Bank (up 0.93%), Yes Bank (up 0.89%), and IndusInd Bank (up 0.45%) edged higher.

Most IT stocks declined. TCS (down 0.86%), Infosys (down 0.6%), Tech Mahindra (down 0.97%), MindTree (down 0.76%), Hexaware Technologies (down 1.68%) and MphasiS (down 0.07%) fell. Oracle Financial Services Software rose 0.5%. Wipro was flat.

HCL Technologies declined 0.98%. The company agreed to buy ETL Factory, doing business as Datawave, a UK-based company that has created an innovative data automation platform which enables enterprise customers execute large scale, complex data-migration and data-integration projects in a leaner, faster and smarter way. The flagship product Datawave, won the Informatica Innovation Award and is also extendable to other platforms, including big data. The announcement was made after market hours yesterday, 5 September 2017.

Meanwhile, the Sensex has fallen 68.52 points or 0.21% in September so far (till 6 September 2017). The Sensex has risen 5,035.51 points or 18.91% in the calendar year 2017 so far (till 6 September 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 5,944.04 points or 23.11%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 1,024.51 points or 3.13%.

Overseas, European stocks were trading lower with shares of insurance companies struggling as Category 5 Hurricane Irma barreled toward the US. Orders for Germany's important manufacturing sector dropped unexpectedly in July, official data showed. Total manufacturing orders fell 0.7% compared with June, adjusted for seasonal swings and calendar effects, the ministry said.

Most Asian stocks dropped as investors found ample reasons to stay away from risky assets amid escalating tensions between the US and North Korea. US stocks closed firmly lower yesterday, 5 September 2017 as investors focused on heightened tensions between the West and North Korea and worries about a lack of progress on President Donald Trump's pro-growth agenda.

The case for a continued risk-off tone was supported by a lack of consensus among the US, Russia and China on how to pressure Kim Jong Un to abandon his nuclear ambitions. Russian President Vladimir Putin has rejected US calls for more sanctions, echoing China's resistance to more punitive measures. The standoff between North Korea and the US and its allies escalated over the weekend after Pyongyang said it had successfully tested its largest-ever nuclear bomb.

Key benchmark indices logged modest gains in volatile session of trade as positive European stocks boosted sentiment, triggering an intraday recovery in latter half of the session. The barometer index, the S&P BSE Sensex, rose 107.30 points or 0.34% to settle at 31,809.55. The Nifty index rose 39.35 points or 0.4% to settle at 9,952.20. Gains were led by index heavyweights Reliance Industries and HDFC.

Domestic stocks drifted higher in early trade. Key benchmark indices hovered within a narrow zone in the positive terrain till early afternoon trade. Stocks recovered after nosediving into the negative terrain in afternoon trade tracking firmness in European stocks. Indices extended gains and hit fresh intraday high in mid-afternoon trade. Stocks trimmed some gains in late trade.

The Sensex rose 107.30 points or 0.34% to settle at 31,809.55, its highest closing level since 1 September 2017. The index gained 161.22 points or 0.51% at the day's high of 31,863.47. The index fell 28.02 points or 0.09% at the day's low of 31,674.23.

The Nifty rose 39.35 points or 0.4% to settle at 9,952.20, its highest closing level since 1 September 2017. The index gained 50.25 points or 0.51% at the day's high of 9,963.10. The index fell 11.80 points or 0.12% at the day's low of 9,901.05.

The S&P BSE Mid-Cap index rose 0.63%. The S&P BSE Small-Cap index gained 1.03%. Both these indices outperformed the Sensex.

Among the sectoral indices on BSE, the BSE Bankex index (up 0.38%), the BSE Metal index (up 0.76%), the BSE Oil & Gas index (up 1.02%) and the BSE Realty index (up 1.56%) outperformed the Sensex. The BSE Telecom index (down 1.62%), the BSE Auto index (up 0.28%) and the BSE Teck index (up 0.02%) underperformed the Sensex.

The market breadth, indicating health of the market, was strong. On BSE, 1,651 shares rose and 905 shares fell. A total of 152 shares were unchanged.

The total turnover on BSE amounted to Rs 3159.13 crore, lower than the turnover of Rs 3396.73 crore registered during the previous trading session.

Index heavyweight Reliance Industries (RIL) gained 1.34% to Rs 1,633 after a foreign brokerage house reportedly said it expects the oil and gas major's gross refining margins to gain on a global supply glut concerns.

Index heavyweight and housing finance major HDFC advanced 0.65% to Rs 1,767.

Wipro fell 0.05%. The company announced the launch of its newest digital pod in Edinburgh, Scotland, deepening its commitment to offer digital services at close proximity to its UK and European customers. The announcement was made after market hours yesterday, 4 September 2017.

The Edinburgh Pod is purpose built for Wipro's digital strategy, design and engineering teams to work in a collaborative and adaptive workspace, along with clients. Digital pods allow teams to work with the necessary autonomy to facilitate speed, continually evaluating progress with user research and technical performance data.

Realty stocks gained. Oberoi Realty (up 7.62%), Indiabulls Real Estate (up 1.43%), Housing Development and Infrastructure (up 0.72%), D B Realty (up 3.28%), DLF (up 1.65%), Sobha (up 3.1%) and Godrej Properties (up 0.91%) rose. Unitech (down 2.18%) and Prestige Estates Projects (down 0.49%) fell.

Metal and mining stocks gained on positive economic data in China. Hindustan Zinc (up 1.76%), Jindal Steel & Power (up 0.39%), NMDC (up 0.26%), Hindustan Copper (up 2.79%), Vedanta (up 0.46%), Tata Steel (up 0.77%), JSW Steel (up 0.49%), Steel Authority of India (Sail) (up 0.16%) and National Aluminium Company (up 0.34%) edged higher. Hindalco Industries declined 0.35%. China is the world's largest consumer of steel, copper and aluminum.

Bank stocks also gained. Among public sector banks, UCO Bank (up 0.81%), Syndicate Bank (up 0.86%), Punjab National Bank (up 0.91%), Corporation Bank (up 1.02%), Allahabad Bank (up 1.67%), Union Bank of India (up 0.95%), Canara Bank (up 0.63%), Bank of India (up 1.12%) and United Bank of India (up 1.95%) edged higher. State Bank of India (SBI) declined 0.18%.

Bank of Baroda rose 1.24% after the bank said that it has kept marginal cost of funds based lending rates (MCLR) for various maturities from 7 September 2017 at the existing level after the review. The announcement was made during market hours today, 5 September 2017.

Separately, the state-run bank said that Life Insurance Corporation of India sold 2.039% or 4.69 crore shares of the bank in the open market from 10 July 2017 to 1 September 2017. After the sale, LIC now holds 7.249% stake in the bank. The announcement was made after market hours yesterday, 4 September 2017.

Among private sector banks, Axis Bank (up 0.03%), HDFC Bank (up 0.24%), ICICI Bank (up 0.22%), Kotak Mahindra Bank (up 0.83%), Federal Bank (up 0.27%), Yes Bank (up 0.9%), and IndusInd Bank (up 0.94%) edged higher.

Meanwhile, the Sensex has risen 79.06 points or 0.24% in September so far (till 5 September 2017). The Sensex has risen 5,183.09 points or 19.46% in the calendar year 2017 so far (till 5 September 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,091.62 points or 23.68%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 876.93 points or 2.68%.

On the macro front, data released during market hours today, 5 September 2017 showed the Nikkei India Services Purchasing Managers' Index (PMI) rose to 47.5 in August from July's 45.9. The Indian service sector was again impacted by the goods and services tax (GST) during August as a second consecutive drop in new business resulted in another monthly decline in activity, the PMI survey said.

Overseas, European stocks were trading higher while Asian stocks were mixed on lingering tensions between the US and North Korea. The eurozone economy appears to be slowing slightly business surveys indicate. Data firm IHS Markit said its composite Purchasing Managers Index for the eurozone was unchanged at 55.7 in August. That was below the preliminary estimate of 55.8, and the average reading for the second quarter.

China's Caixin/Markit August services purchasing managers' index (PMI) today, 5 September 2017 showed an increase to 52.7 from 51.5 in the previous month. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

Japan's services sector expanded in August at the slowest rate in six months. The Markit/Nikkei Japan Services PMI fell to a seasonally adjusted 51.6 from 52 in July.

US financial markets remained closed yesterday, 4 September 2017 in observance of Labor Day. The US on Monday called for the strongest possible sanctions to be imposed on North Korea a day after the North said it had tested a hydrogen bomb.

Key benchmark indices logged modest losses on first trading day of the week led by slide in Infosys and HDFC Bank. The barometer index, the S&P BSE Sensex, lost 189.98 points or 0.6% to settle at 31,702.25. The Nifty index dropped 61.55 points or 0.62% to settle at 9,912.85. Domestic stocks fell for the first time in four trading days, in tandem with their global counterparts, on rising geo-political tensions between North Korea and the US.

Trading for the week had begun on a subdued note as the key benchmark indices edged lower in early trade on negative Asian stocks. Stocks hovered with small losses till mid-morning trade. Indices languished in the red after extending losses and hitting fresh intraday low in early afternoon trade triggered by weak European stocks. Indices cut losses later during the session.

The Sensex lost 189.98 points or 0.6% to settle at 31,702.25, its lowest closing level since 30 August 2017. The index lost 331.91 points or 1.04% at the day's low of 31,560.32. The index gained 39.97 points or 0.13% at the day's high of 31932.20.

The Nifty index dropped 61.55 points or 0.62% to settle at 9,912.85, its lowest closing level since 30 August 2017. The index lost 113.40 points or 1.14% at the day's low of 9,861. The index gained 14 points or 0.14% at the day's high of 9,988.40.

The S&P BSE Mid-Cap index fell 0.68%. The S&P BSE Small-Cap index lost 0.62%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 1,603 shares fell and 993 shares rose. A total of 226 shares were unchanged.

The total turnover on BSE amounted to Rs 3394.60 crore, higher than the turnover of Rs 3322.43 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE IT index (down 1.02%), the BSE Telecom index (down 1.32%), the BSE Bankex index (down 0.78%) and the BSE Realty index (down 1.39%) underperformed the Sensex. The BSE Healthcare index (down 0.2%) and the BSE Metal index (up 0.26%) outperformed the Sensex.

Index heavyweight and software major Infosys lost 2.04% to Rs 901.30.

Tata Motors lost 1.61% after the company's British luxury car unit Jaguar Land Rover reported just a 1% rise in its US sales at 9,421 units in August 2017 over August 2016. Jaguar US sales declined 6% to 3,101 units in August 2017 over August 2016. Land Rover US sales rose 5% to 6,320 units in August 2017 over August 2016.

Pharma shares were mixed. Dr Reddy's Laboratories (down 1.27%), Glenmark Pharmaceuticals (down 1.07%), Cipla (down 1.17%), and Aurobindo Pharma (down 1.13%) declined. GlaxoSmithKline Pharmaceuticals (up 0.22%), Sun Pharmaceutical Industries (up 2.79%) and Wockhardt (up 2.13%) rose.

Lupin rose 0.24% after the company announced the launch of its Olmesartan Medoxomil tablets, 5 mg, 20mg and 40mg having received an approval from the United States Food and Drug Administration earlier. The announcement was made during market hours today, 4 September 2017.

The drug is the AB rated equivalent of Daichi Sankyo Inc's Benicar tablets. It is indicated for the treatment of hypertension, alone or in combination with other antihypertensive agents, to lower blood pressure. Benicar had annual US sales of $681 million as per IMS MAT July 2017.

Cadila Healthcare fell 0.25%. The company said it has received final approval from the US drug regulator to market a drug. The announcement was made on Saturday, 2 September 2017.

Cadila Healthcare said it has received final approval from the United States Food and Drug Administration (USFDA) to market Mycophenalate Mofetil for Injection USP, 500 mg/vial. The drug is indicated for use in combination with other drugs i.e., cyclosporine and corticosteroids for the prophylaxis of organ rejection in patients receiving renal, hepatic or cardiac transplants. The drug will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad.

Bank stocks declined. Among private sector banks, HDFC Bank (down 0.91%), Axis Bank (down 1.04%), Kotak Mahindra Bank (down 1.14%), ICICI Bank (down 0.35%), Yes Bank (down 0.81%) and IndusInd Bank (down 1.45%) dropped.

Federal Bank rose 1.5% to Rs 111.65 on reports that a foreign brokerage firm initiated coverage on the stock with a 'Buy' rating. According to reports, the brokerage cited revival in loan growth, cost-control and better asset-quality as key triggers for the Federal Bank stock.

Among public sector banks, Bank of Baroda (down 1.12%), Punjab National Bank (down 1.14%), Canara Bank (down 1.47%), Bank of India (down 0.9%) and Union Bank of India (down 1.52%) dropped. State Bank of India rose 0.04%.

Realty stocks were mixed. DLF (down 2.06%), Indiabulls Real Estate (down 3.43%), Housing Development and Infrastructure (down 2.81%), Phoenix (down 2.25%), and Prestige Estates Projects (down 1.89%) declined.

Unitech (up 2.37%), Sobha (up 0.4%), Godrej Properties (up 0.64%), Oberoi Realty (up 0.6%) and D B Realty (up 1.15%) rose.

The Sensex snapped three-day winning streak today, 4 September 2017. The index had gained 503.84 points or 1.6% in three trading sessions to settle at 31,892.23 on Friday, 1 September 2017, from its close of 31,388.39 on 29 August 2017. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 984.23 points or 3.01%.

On the political front, Prime Minister Narendra Modi's expansion and reshuffle of his Council of Ministers took place on Sunday, 3 September 2017. Nine new Ministers of State made it to the Union Cabinet, while four existing ministers Nirmala Sitharaman, Piyush Goyal, Dharmendra Pradhan and Mukhtar Abbas Naqvi were promoted to Cabinet rank.

Nirmala Sitharaman was named as Defence Minister. Piyush Goyal was named the Railway Minister with additional charge of Ministry of Coal. Suresh Prabhu was moved to the Commerce Ministry. Petroleum Minister Dharmendra Pradhan was given additional charge of the Skill Development Ministry. Uma Bharti has been divested of her portfolio of Water Resources, River Development and Ganga Rejuvenation, which is now with Transport Minister Nitin Gadkari. Rajyavardhan Singh Rathore replaced Vijay Goel in the Sports Ministry.

Overseas, European and Asian stocks dropped after North Korea on Sunday, 3 September 2017, said it tested a hydrogen bomb with unprecedentedly big power, raising geo-political tensions between North Korea and US. Meanwhile, US President Donald Trump threatened to increase economic sanctions and halt trade with any nation doing business with North Korea.

The prices of goods leaving the eurozone's factory gates haven't risen since January, indicating continued weakness in inflationary pressures, despite a firming economic recovery. The European Union's statistics agency said that producer prices were unchanged in July from June, and were up just 2% from July 2016.

US equities finished higher on Friday, 1 September 2017 on expectations that a weaker-than-expected rise in August nonfarm payrolls could dull the Federal Reserve's desire to further raise borrowing costs in 2017. Meanwhile, US financial markets will remain closed today, 4 September 2017 in observance of Labor Day.

In economic data, the US economy added 156,000 jobs in August. The unemployment rate stood at 4.4% in August, rising by 0.1 percentage point from July. Average hourly wages increased by 0.1% in August from a 0.3% increase in the previous month.

In other economic data, the closely watched Institute for Supply Management manufacturing index jumped to a six-year high in August. The University of Michigan said its final gauge of consumer sentiment for August came in at 96.8 versus a preliminary reading of 97.6.

Trading for the September month started on a positive note as key benchmark indices settled with modest gains as domestic data showing Q1 June 2017 gross domestic product falling to a three-year low raised expectations that the central bank may cut rates to perk up growth. The barometer index, the S&P BSE Sensex rose 161.74 points or 0.51% to settle at 31,892.23. The Nifty 50 gained 56.50 points or 0.57% to settle at 9,974.40. The Sensex and the Nifty, both, hit their highest closing level in more than three weeks. Firmness in global stocks and private data showing rebound in India's manufacturing activity in August also boosted sentiment. Indices gained for the third day in a row.

After opening higher and witnessing a bout of initial volatility, key indices strengthened and hit fresh intraday high in morning trade on firm Asian stocks. After holding firm till afternoon trade, indices extended gains in mid-afternoon trade tracking higher European stocks. A bout of volatility was witnessed in late trade.

The Sensex rose 161.74 points or 0.51% to settle at 31,892.23, its highest closing level since 8 August 2017. The index rose 213.61 points or 0.67% at the day's high of 31,944.10. It fell 23.22 points or 0.07% at the day's low of 31,707.27.

The Nifty 50 gained 56.50 points or 0.57% to settle at 9,974.40, its highest closing level since 8 August 2017. The index rose 65.55 points or 0.66% at the day's high of 9,983.45. It shed 8.05 points or 0.08% at the day's low of 9,909.85.

The S&P BSE Mid-Cap index rose 0.96%. The S&P BSE Small-Cap index gained 0.87%. Both these indices outperformed the Sensex.

Among the sectoral indices on BSE, the S&P BSE Realty index (up 2.59%), the S&P BSE Auto index (up 1.94%), the S&P BSE Metal index (up 1.86%), the S&P BSE Healthcare index (up 1.84%), the S&P BSE Consumer Discretionary Goods & Services index (up 1.43%), the S&P BSE Industrials index (up 1.15%), the S&P BSE Basic Materials index (up 1.12%), the S&P BSE Bankex (up 0.67%) and the S&P BSE Energy index (up 0.64%), outperformed the Sensex. The S&P BSE Capital Goods index (up 0.48%), the S&P BSE Oil & Gas index (up 0.46%), the S&P BSE Finance index (up 0.36%), the S&P BSE FMCG index (up 0.27%), the S&P BSE Utilities index (up 0.15%), the S&P BSE Power index (up 0.14%), the S&P BSE Teck index (down 0.1%), the S&P BSE IT index (down 0.17%), the S&P BSE Consumer Durables index (down 0.27%) and the S&P BSE Telecom index (down 0.36%), underperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,602 shares rose and 990 shares declined. A total of 144 shares were unchanged.

The total turnover on BSE amounted to Rs 3320.06 crore, lower than the turnover of Rs 3695.28 crore registered during the previous trading session.

Eicher Motors rose 0.99% after total motorcycles sales rose 22% to 67,977 units in August 2017 over August 2016. The announcement was made during trading hours today, 1 September 2017.

Separately, sale volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors rose 9.06% to 4,571 units in August 2017 over August 2016.

Tata Motors jumped 3.74% after the company said passenger and commercial vehicles total sales (including exports) rose 14% at 48,988 vehicles in August 2017 over August 2016. The company's domestic sales of commercial and passenger vehicles rose 26% to 45,906 units in August 2017 over August 2016, due to growing demand across segments and increased positive customer sentiments. The announcement was made during market hours today, 1 September 2017.

The overall commercial vehicles sales in August 2017, in the domestic market were at 31,566 units higher by 34% over August 2016. The sales grew on the back of growing demand across segments supported by the continued ramp-up in production of BSIV vehicles since April this year. The company also passed on the benefits of GST to consumers by reducing the prices of its vehicles across all commercial vehicle segments. The company's sales from exports fell 53% to 3 082 units in August 2017 over August 2016, due to continued drop in industry volumes in Sri Lanka and Nepal.

Bajaj Auto rose 3.92% after total sales rose 3% to 3.35 lakh units in August 2017 over August 2016. Domestic sales was flat at 2 lakh units in August 2017 over August 2016. Export sales rose 7% to 1.34 lakh units in August 2017 over August 2016. The announcement was made before market hours today, 1 September 2017.

Dr Reddy's Laboratories surged 9.75% after the company issued a clarification with regard to media reports. The company said that on 31 August 2017, the United States District Court, for the District of Delaware, issued its judgment in favour of Dr. Reddy's Laboratories, ruling that the proposed generic version of Suboxone (buprenorphine and naloxone) sublingual film does not infringe US Patents as asserted by Indivior.

Suboxone (buprenorphine and naloxone) sublingual film is indicated for the maintenance treatment of opioid dependence. Reckitt Benckiser developed Suboxone sublingual film using MonoSol Rx's PharmFilm technology. In December 2014, Reckitt Benckiser de-merged its pharmaceuticals business as Indivior. The US Food and Drug Administration (USFDA) has approved Suboxone film in four strengths viz. 2 mg /0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg (buprenorphine/naloxone). The announcement was made during market hours today, 1 September 2017.

Realty stocks jumped on expectations that the Reserve Bank of India may further cut policy rates to perk up growth after the latest data showed Q1 June 2017 GDP falling to 3-year low. Purchases of both residential and commercial property are largely driven by finance. DLF (up 3.76%), D B Realty (up 5.95%), Indiabulls Real Estate (up 3.22%), Unitech (up 2.98%), NBCC (up 1.93%), Godrej Properties (up 2.68%), Housing Development & Infrastructure (HDIL) (up 3.22%), and Oberoi Realty (up 3.48%) edged higher.

Bank stocks gained on expectations that the Reserve Bank of India may further cut policy rates to perk up growth. Among public sector banks, UCO Bank (up 0.97%), Syndicate Bank (up 0.23%), Punjab National Bank (up 0.45%), Corporation Bank (up 0.56%), Allahabad Bank (up 0.51%), Bank of Baroda (up 0.47%), State Bank of India (SBI) (up 0.13%), Union Bank of India (up 2.02%), Canara Bank (up 0.38%), Bank of India (up 0.01%) and United Bank of India (up 1.1%) edged higher.

Among private sector banks, ICICI Bank (up 0.18%), Kotak Mahindra Bank (up 1.8%), Federal Bank (up 1.57%), Yes Bank (up 1.13%), and IndusInd Bank (up 2.16%) edged higher. HDFC Bank fell 0.57%.

Axis Bank rose 1.4%. The bank said that it has exposure to 12 select accounts as on 30 June 2017 referenced in RBI directions on 28 August 2017 for which viable resolution plan should be initiated by 13 December 2017. The announcement was made before market hours today, 1 September 2017.

Total fund based outstanding of the bank on these accounts was Rs 1843 crore and non fund based outstanding was Rs 649 crore. Around 75% of the outstanding was secured.

Garware-Wall Ropes jumped 9.38% after net profit rose 31.14% to Rs 25.98 crore on 13.71% increase in total income to Rs 250.47 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 1 September 2017.

The Sensex rose 503.84 points or 1.6% in three trading sessions from its close of 31,388.39 on 29 August 2017. The Sensex has risen 5,265.77 points or 19.77% in the calendar year 2017 so far (till 1 September 2017).

From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,174.30 points or 24%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 794.25 points or 2.42%.

On macro data front, which were released after market hours yesterday, 31 August 2017, gross domestic product (GDP) at constant (2011-12) prices in Q1 June 2017 is estimated at Rs 31.10 lakh crore, as against Rs 29.42 lakh crore in Q1 June 2016, showing a growth rate of 5.7%. Quarterly gross value added (GVA) at basic price at constant (2011-2012) prices for Q1 of 2017-18 is estimated at Rs 29.04 lakh crore, as against Rs 27.51 lakh crore in Q1 June 2016, showing a growth rate of 5.6%.

The eight core industries comprising 40.27% of the weight of items included in the index of industrial production (IIP) rose 2.4% in July. Its cumulative growth during April to July, 2017-18 was 2.5%.

The fiscal deficit stood at Rs 5.05 trillion ($79.01 billion) for April-July or 92.4% of the budgeted target for the current fiscal year that ends in March 2018, showed a data released by the government. The data furnished by the Comptroller General of Accounts (CAG), showed that the deficit was 73.7% of the full-year target during the corresponding period last year. Net tax receipts in the first four months of the financial year 2017-18 were Rs 2.58 trillion, the data added. The government aims to trim the fiscal deficit to 3.2% of gross domestic product (GDP) in 2017-18 compared with 3.5% in the previous year.

Markit Economics said today, 1 September 2017 that August saw a rebound in manufacturing new orders and output across India. The expansions were modest, but represented a substantial turnaround from July's GST-related contraction. Up from July's 101-month low of 47.9 to 51.2 in August, the Nikkei India Manufacturing Purchasing Managers' Index (PMI) signalled a renewed improvement in the health of the sector. The upturn reflected resumed growth of new orders, production and employment.

India Meteorological Department said cumulative area weighted rainfall for the country as a whole till 30 August 2017 in the ongoing monsoon season was 3% lower than the normal rainfall. The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.

Overseas, European stocks rose as Euro zone manufacturing activity accelerated in August, clocking the fastest rise in export orders since February 2011 despite a strengthening currency, a business survey showed. IHS Markit's Manufacturing Purchasing Managers' Index for the euro zone rose to 57.4 in August, in line with the preliminary reading and up from 56.6 in July.

Asian stocks gained after positive economic data in China. The financial markets looked to the US jobs report for August due later in the global day. China's manufacturing activity expanded at the fastest pace in six months in August, a private survey showed, buoyed by a surge in export orders and higher prices. The Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) rose to 51.6 in August, compared with 51.1 in July.

US stocks advanced yesterday, 31 August 2017, with the main indexes posting their fifth consecutive monthly gain as investors responded to strong economic data and drew some cautious hope from the Donald Trump administration's latest promises for long-awaited details of a tax reform plan.

US consumer spending increased by less than estimated in July, though rising incomes and an upward revision to June purchases put the economy on a stable footing for the second half.

Key benchmark indices settled with small gains after a volatile and range-bound session of trade as firmness in European stocks perked up indices in the latter half of the session. The barometer index, the S&P BSE Sensex, rose 84.03 points or 0.27% to settle at 31,730.49. The Nifty 50 index gained 33.50 points or 0.34% to settle at 9,917.90.

Trading was range-bound as investors maintained caution ahead of announcement of Q1 June 2017 gross domestic product data later during the day. Volatility was witnessed due to expiry of near month futures & options contracts today, 31 August 2017. Indices gained for the second straight day.

After opening with small gains, indices soon slipped into the red and traded with small losses till mid-morning trade. Indices recovered and turned positive in early afternoon trade. Stocks swung between gains and losses around the flat line till mid-afternoon trade. Indices regained strength in late trade on firm European stocks.

Bank stocks were mixed. Realty stocks rose. Reliance Industries advanced after the company said it will make an offer for issuing non-convertible debentures worth Rs 2500 crore next week. Wipro rose after the company said it has fixed 15 September 2017 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in share buyback.

The Sensex rose 84.03 points or 0.27% to settle at 31,730.49, its highest closing level since 28 August 2017. The index rose 110.72 points or 0.34% at the day's high of 31,757.18. It fell 94.61 points or 0.29% at the day's low of 31,551.85.

The Nifty gained 33.50 points o 0.34% to settle at 9,917.90, its highest closing level since 8 August 2017. The index rose 40.70 points or 0.41% at the day's high of 9,925.10. It shed 27.45 points or 0.27% at the day's low of 9,856.95.

The S&P BSE Mid-Cap index rose 0.22%, underperforming the Sensex. The S&P BSE Small-Cap index gained 0.84%, outperforming the Sensex.

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,509 shares rose and 1,064 shares fell. A total of 135 shares were unchanged.

The total turnover on BSE amounted to Rs 3692.93 crore, higher than the turnover of Rs 2478.72 crore registered during the previous trading session.

Among the sectoral indices on BSE, the BSE Auto index (up 0.36%), the BSE Oil & Gas index (up 0.55%), the BSE Power index (up 0.76%) and the BSE Realty index (up 1.11%) outperformed the Sensex. The BSE Healthcare index (down 0.47%), the BSE IT index (up 0.02%) and the BSE Bankex index (down 0.13%) underperformed the Sensex.

Bank stocks were mixed. Among public sector banks, Punjab National Bank (up 0.98%), Bank of India (up 0.81%) and State Bank of India (up 0.16%) gained. Indian Bank (down 1.31%), Bank of Baroda (down 1.29%) and IDBI Bank (down 0.18%) declined.

Among private sector banks, HDFC Bank (up 0.34%), Kotak Mahindra Bank (up 0.32%) and Yes Bank (up 0.31%) gained. ICICI Bank (down 0.9%) and Axis Bank (down 0.8%) declined.

IndusInd Bank dropped 0.16%. The bank said that it has inaugurated a new branch in Faridkot expanding presence across Punjab. With the inauguration of this branch, the bank now has 101 branches in Punjab. The announcement was made during market hours today, 31 August 2017.

Realty stocks rose. Sobha (up 2.29%), Godrej Properties (up 2.03%), Prestige Estates Projects (up 1.05%), DLF (up 1.18%), Indiabulls Real Estate (up 1.94%) and Oberoi Realty (up 0.36%) advanced. Unitech fell 0.81%.

Idea Cellular rose 3.47% at Rs 91. With respect to news item titled “TRAI received complaints from customers of the company charging higher amount to the customers” the company clarified that TRAI direction does not refer to any penalty but only relates to a direction to the company to deposit around Rs 2.97 crore in the Telecom Consumers Education and Protection Fund which relates to FY 20015-06 and is an industry issue. The clarification was issued during market hours today, 31 August 2017.

Reliance Industries (RIL) gained 1.88% at Rs 1,593.50 after the company said it will make an offer for issuing non-convertible debentures (NCDs) worth Rs 2500 crore next week. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business, it said. The announcement was made after market hours yesterday, 30 August 2017.

Meanwhile, RIL said it fixed 9 September 2017 as the record date for the proposed 1:1 bonus issue of the company.

Separately, the company said that it has issued and allotted first tranche of unsecured, non convertible redeemable debentures aggregating Rs 5000 crore on private placement basis. The announcement was made during market hours today, 31 August 2017.

Wipro rose 2.54% at Rs 299.05 after the company said it has fixed 15 September 2017 as the record date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in share buyback. The announcement was made after market hours yesterday, 30 August 2017.

The company's board on 20 July 2017, approved a proposal to buyback up to 34.37 crore shares for an aggregate amount not exceeding Rs 11000 crore.

Infosys declined 1.22% at Rs 915.30. The company clarified with respect to news article titled LIC to Seek Briefing on Infy Strategy that there is no meeting scheduled with LIC to discuss any of the matters. The clarification was issued during market hours today, 31 August 2017. LIC holds 7.03% stake in the firm as on 30 June 2017.

Lupin fell 0.55% at Rs 981.55. The company announced the launch of Lanthanum Carbonate Chewable Tablets 500 mg (base), 750 mg (base), and 1000 mg (base). Lupin's alliance partner Natco had received an approval from the United States Food and Drug Administration (FDA) earlier. Lanthanum Carbonate Chewable Tablets are indicated to reduce serum phosphate in patients with end stage renal disease (ESRD). The announcement was made during market hours today, 31 August 2017.

Vedanta was up 0.88% at Rs 308.15. The company said its board of directors today, 31 August 2017, appointed Kuldip Kaura as the Interim Chief Executive Officer with effect from 1 September 2017. The announcement was made during market hours today, 31 August 2017.

NTPC rose 0.42% at Rs 168.70 after dull response from retail investors in the company's two-day offer for sale. The government received bids for about 7% stake in NTPC, which will fetch over Rs 9000 crore to the exchequer. At the end of the two-day offer for sale (OFS) yesterday, 30 August 2017, the government retained oversubscription it had received from institutional investors after retail investors bid for only 73% of the quota allocated for them.

The government had planned to sell over 41.22 crore shares, or 5% holding, through the two-day OFS, with an option to retain a similar portion in case of oversubscription. On the opening day on Tuesday, 29 August 2017, institutional (non-retail) investors bid for 46.35 crore shares against 32.98 crore shares offered to them, according to stock exchange data.

Yesterday, 30 August 2017, retail investors bid for 8.45 crore shares against 11.58 crore shares on offer. The government decided to retain oversubscription, and after adjustments a total of about 7% stake was sold in the OFS. The shares were offered at a floor price of Rs 168 each.

On the macro front, the government will announce data on Q1 June 2017 gross domestic product (GDP) after market hours today, 31 August 2017. India's GDP rose at moderated pace of 6.1% in Q4 March 2017, which is the lowest pace of growth in last nine quarters. The GDP growth decelerated sharply from 7% growth recorded in the preceding last quarter and 8.7% surge posted in the corresponding quarter last year.

Overseas, European stocks edged higher after inflation in the eurozone picked up markedly in August and the jobless rate remained at its lowest level for over eight years. The European Union's statistics agency said that the region's annual inflation rate rose to 1.5% from 1.3% in July, propelled by energy prices.

Asian stocks were mixed amid volatility. An official gauge of China's factory activity rose in August, government data showed. China's official manufacturing purchasing managers' index rebounded to 51.7 from July's 51.4. The index has now stayed above the 50 mark, which separates an expansion of activity from a contraction, for 13 months.

China's official non-manufacturing purchasing-managers' index, a measure of activity outside the nation's factory gates, fell for a second straight month to 53.4 in August from 54.5 in July, the National Bureau of Statistics said.

Japan's industrial output fell more than expected in July. Industrial output fell 0.8% in July from the previous month, dragged down by production of semiconductor production equipment, turbines and power generators, preliminary data from the Ministry of Economy, Trade and Industry showed.

US stocks climbed yesterday, 30 August 2017, after the Commerce Department said the economy grew faster than expected in the second quarter. President Donald Trump also made a speech calling on Congress to act to advance tax reform, a proposal favoured by many businesses. The Commerce Department said the US economy grew at a 3% annual rate over the three months to the end of June, up from an earlier 2.6% estimate. The revision means that growth for the quarter was at the fastest rate since the first quarter of 2015.

Private-sector hiring skyrocketed in August, according to data released. Employers added a seasonally adjusted 237,000 jobs during the month, payroll processor ADP said. That was a big gain from the 178,000 jobs ADP reported in July, and which it revised up to 201,000.

Key benchmark indices logged modest gains in a steady session of trade led by index heavyweights Reliance Industries, HDFC and HDFC Bank. The barometer index, the S&P BSE Sensex gained 258.07 points or 0.82% to settle at 31,646.46. The Nifty 50 advanced 88.35 points or 0.9% to settle at 9,884.40. Positive global stocks boosted sentiment on domestic bourses.

Domestic stocks saw a gap-up opening triggered by mostly positive Asian stocks. Key indices held firm till early afternoon trade. Stocks trimmed gains in mid-afternoon trade. Indices hovered in positive zone in late trade.

Bank stocks gained. Metal and mining stocks were in demand. Cadila Healthcare advanced after the company said it received final approval from the US drug regulator for Aspirin and extended-release Dipyridamole capsules. Maruti Suzuki India nudged higher after the company announced the transformation of its retail network across India with new showrooms christened Maruti Suzuki ARENA.

The Sensex gained 258.07 points or 0.82% to settle at 31,646.46, its highest closing level since 28 August 2017. The index gained 339.59 points or 1.08% at the day's high of 31,727.98. It rose 144.63 points or 0.46% at the day's low of 31,533.02.

The Nifty advanced 88.35 points or 0.9% to settle at 9,884.40, its highest closing level since 28 August 2017. The index gained 113.40 points or 1.16% at the day's high of 9,909.45. It rose 54.75 points or 0.56% at the day's low of 9,850.80.

The S&P BSE Mid-Cap index rose 1.49%. The S&P BSE Small-Cap index gained 1.33%. Both these indices outperformed the Sensex.

The broad market depicted strength. There were over two gainers against every loser. On the BSE, 1,790 shares rose and 791 shares fell. A total of 121 shares were unchanged.

The total turnover on BSE amounted to Rs 2476.72 crore, lower than the turnover of Rs 3695.71 crore registered during the previous trading session.

Among the sectoral indices on BSE, the BSE FMCG index (up 1.01%), the BSE Metal index (up 2.64%), the BSE Oil & Gas index (up 2.32%) and the BSE Realty index (up 1.66%) outperformed the Sensex. The BSE IT index (up 0.08%), the BSE Telecom index (up 0.59%) and the BSE Bankex index (up 0.79%) underperformed the Sensex.

Bank stocks gained. Among public sector banks, Union Bank of India (up 0.93%), Punjab National Bank (up 0.89%) and State Bank of India (up 0.07%) edged higher. Bank of Baroda (down 0.43%) and IDBI Bank (down 0.36%) declined.

Among private sector banks, Yes Bank (up 1.78%), IndusInd Bank (up 1.61%), HDFC Bank (up 1.24%), Kotak Mahindra Bank (up 0.73%), ICICI Bank (up 0.62%) and Axis Bank (up 0.21%) advanced.

Metal and mining stocks were in demand. Vedanta (up 2.36%), JSW Steel (up 4.82%), Tata Steel (up 1.35%), Steel Authority of India (Sail) (up 1.15%), National Aluminium Company (up 2.14%), Hindustan Zinc (up 3.66%), Jindal Steel & Power (up 4.38%), Hindalco Industries (up 3.8%), NMDC (up 3.74%) and Hindustan Copper (up 1.55%) edged higher.

Lupin declined 0.07% at Rs 987. Lupin announced that its Japanese subsidiary Kyowa Pharmaceutical Industry Co., announced the listing of the NHI (National Health Insurance) drug price for Bipresso (generic name: Quetiapine Fumarate) extended release 50mg and 150 mg tablets for the treatment of depressive symptoms associatedwith bipolar disorder. Based on the agreement between Astellas and Kyowa made in February 2017, Kyowa will distribute, sell and promote Bipresso Extended-Release Tablets exclusively in Japan. The announcement was made during market hours today, 30 August 2017.

Cadila Healthcare rose 1.09% at Rs 503.35 after the company said it received final approval from the US drug regulator for Aspirin and extended-release Dipyridamole capsules. The announcement was made during trading hours today, 30 August 2017.

Cadila Healthcare has received the final approval from the US Food and Drug Administration (USFDA) to market Aspirin and extended-release Dipyridamole capsules in the strength of 25 milligram (mg)/200 mg. The drug is an antiplatelet agent which works in the prevention of excessive blood clotting and is used to reduce the risk of stroke in patients who have had or are at risk of stroke.

The drug will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. The sales of Aspirin and extended-release Dipyridamole capsules are estimated at $198.7 million.

HCL Technologies was down 0.05% at Rs 851.80. The company said that it has opened a new delivery center in Gothenburg, Sweden. The new centre will be a key hub in HCL's global delivery network, providing cutting edge transformational IT services as part of the global shares services model. In addition, the Gothenburg office will also become HCL's global headquarters for its mainframe services and automative centre of excellence. The announcement was made after market hours yesterday, 29 August 2017.

Maruti Suzuki India rose 0.58% at Rs 7,569.50 after the company announced the transformation of its retail network across India with new showrooms christened Maruti Suzuki ARENA. The company will have four distinct retail channels under ARENA viz. Maruti Suzuki ARENA, NEXA, Commercial and TrueValue, addressing needs of all customers. The announcement was made during market hours today, 30 August 2017.

Reliance Industries gained 2.12% to Rs 1,564.15 after the company proposed to make an offer for issuance of non-convertible debentures (NCDs series B) (2nd tranche) on private placement basis on Friday, 1 September 2017 aggregating Rs 2500 crore, to be listed on the Stock Exchanges. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business. The announcement was made after market hours yesterday, 29 August 2017.

Tata Power Company rose 1.17% at Rs 77.80 after the company said that its 100% subsidiary, Tata Power Renewable Energy (TPREL), increased its generation capacity by 337% in the fiscal year ended March 2017 (FY17) as compared to the fiscal year ended March 2016 (FY16). TPREL generated 1440 million units (MUs) that from renewable energy sources (wind & solar) in FY17 as compared to 329 MUs in FY16. The company announced after market hours yesterday, 29 August 2017.

TPREL is the primary vehicle through which Tata Power's investments in renewable energy capacity are driven. TPREL proposes to grow its capacity through organic and inorganic means over the next few years. TPREL completed commissioning of 100 MW wind farm at Nimbagallu, Andhra Pradesh and 50 MW Rojmal Phase-II in Gujarat and 15 MW solar plant in Belampally, Telangana in last quarter of FY17, Tata Power said in a statement.

Overseas, European stocks advanced as investors tried to oust any nerves surrounding North Korea tensions and took advantage of the positive sentiment seen overseas. Asian stocks edged higher after US President Donald Trump's measured response to North Korean missile launches and comments from Kim Jong Un suggested geopolitical tensions will ease off.

In economic news, Japan's retail sales growth slowed in July as shoppers spent less on clothes and cars. Retail sales rose 1.9% in July from a year ago but still slower than a revised 2.2% increase in the year to May.

US stock benchmarks yesterday, 29 August 2017 staged a recovery from heavy selling earlier in the session that came after a North Korean missile test over Japanese airspace rattled investors and sent Wall Street trawling for assets perceived as safe. North Korea had fired a ballistic missile over Japan yesterday, 29 August 2017 in an act the latter called an “unprecedented, grave and serious threat.”

In economic news, consumers confidence in US strengthened in August to the second highest level since late 2000, a survey released showed. The consumer confidence index rose to 122.9, up from 120 in the prior month, the Conference Board said.

Key benchmark indices dropped over 1% as sharp drop in European stocks and subdued Asian stocks weighed on sentiment on the domestic bourses. The barometer index, the S&P BSE Sensex, fell 362.43 points or 1.14% to settle at 31,388.39. The Nifty 50 index shed 116.75 points or 1.18% to settle at 9,796.05. Market sentiment was dull amid geopolitical tensions in the aftermath of North Korea firing a missile over northern Japan. All the nineteen sectoral indices on BSE were in the red. The Sensex and the Nifty hit lowest closing level in a week. Both these indices snapped four-day winning streak.

After opening lower on weak Asian stocks, key indices continued to extend intraday losses as the day's trade progressed with sharp drop in European stocks exacerbating losses.

The Sensex lost 362.43 points or 1.14% to settle at 31,388.39, its lowest closing level since 22 August 2017. The index declined 390.01 points or 1.22% at the day's low of 31,360.81. It fell 11.02 points or 0.03% at the day's high of 31,739.80.

The Nifty fell 116.75 points or 1.18% to settle at 9,796.05, its lowest closing level since 22 August 2017. The index lost 129.05 points or 1.3% at the day's low of 9,783.75. It fell 25.45 points or 0.25% at the day's high of 9,887.35.

The S&P BSE Mid-Cap index fell 0.85%. The S&P BSE Small-Cap index declined 1.05%. The losses in both the indices were lower than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were more than two losers for every gainer on BSE. On the BSE, 1,736 shares fell and 827 shares rose. A total of 137 shares were unchanged.

The total turnover on BSE amounted to Rs 3693.74 crore, slightly higher than turnover of Rs 3633.14 crore registered during the previous trading session.

Among the sectoral indices on BSE, the BSE Healthcare index (down 1.19%), the BSE Telecom index (down 1.87%) and the BSE Power index (down 1.56%) underperformed the Sensex. The BSE FMCG index (down 0.88%), the BSE IT index (down 0.91%), the BSE Bankex index (down 1.05%) and the BSE Realty index (down 0.82%) outperformed the Sensex.

Bank stocks declined. Among public sector banks, Bank of Baroda (down 2.78%), Punjab National Bank (down 2.66%), Indian Bank (down 1.52%), IDBI Bank (down 0.98%) and State Bank of India (down 0.93%) edged lower.

Among private sector banks, Yes Bank (down 1.77%), Axis Bank (down 1.39%), IndusInd Bank (down 1.28%), Kotak Mahindra Bank (down 1.07%), HDFC Bank (down 0.81%) and ICICI Bank (down 0.58%) declined. RBL Bank (up 4.06%) advanced.

Metal & mining stocks declined. Jindal Steel & Power (down 3.21%), Vedanta (down 0.83%), Tata Steel (down 1.03%), NMDC (down 0.49%), Hindalco Industries (down 2.27%), Steel Authority of India (down 1.22%), Hindustan Zinc (down 0.75%) and National Aluminium Company (down 2.51%) edged lower. JSW Steel rose 0.98%.

Capital goods stocks also dropped. BEML (down 3.21%), Havells India (down 1.68%), L&T (down 0.92%), Thermax (down 1.18%), and Siemens (down 1.52%) declined.

Bharat Heavy Electricals (Bhel) shed 1.09%. The company announced that it has successfully commissioned the first unit of 2x30 megawatts (MW) Tuirial Hydro Electric Project (HEP) in Mizoram. The announcement was made during market hours today, 29 August 2017.

ACC (down 0.35%), Bank of Baroda (down 2.78%), Tata Power Company (down 2.53%) and Tata Motors DVR (down 2.57%) edged lower. Hindustan Petroleum Corporation (HPCL) (up 0.71%) and UPL (up 0.21%) edged higher. Bajaj Finance, however, fell 2.75%.

ACC, Bank of Baroda, Tata Power Company and Tata Motors DVR will be excluded from the NSE Nifty 50 index, according to a media statement issued on the National Stock Exchange after market hours yesterday, 28 August 2017. At the same time, Bajaj Finance, Hindustan Petroleum Corporation (HPCL) and UPL will become part of the index. Changes will be effective from 29 September 2017.

NTPC dropped 2.8% to Rs 168.50. The company said that government will sell 5% stake in NTPC at a floor price of Rs 168 per share through a two-day offer-for-sale (OFS) beginning today, 29 August 2017, with an option to issue a similar number of shares in case of over subscription. The sale of 41.23 crore shares, or 5% equity, would fetch about Rs 7000 crore to the exchequer. The two-day OFS opened for institutional investors today, 29 August 2017, and retail investors would get to bid tomorrow, 30 August 2017.

IT major Infosys dropped 1.45% at Rs 927.55. The company said that some of the company's promoters would participate in the upcoming share buyback of the company. The IT firm had announced a Rs 13000-crore share buyback on 19 August 2017, a day after CEO and MD Vishal Sikka resigned from the company. The company would buy back up to 11.30 crore shares aggregating up to 4.92% of the paid-up equity capital via tender route at a price of Rs 1,150. The announcement was made after market hours yesterday, 28 August 2017.

Bharti Airtel dropped 1.61% at Rs 427.95. The company announced after market hours yesterday, 28 August 2017 that the proposed acquisition of Tikona Digital Networks has now been completed. With this, Tikona Digital Networks has become a wholly owned subsidiary of Bharti Airtel. The transaction for the trading of the spectrum in Rajasthan circle is still pending for approval from the department of telecom (DoT).

Reliance Industries declined 2.17% at Rs 1,531.75. The company proposed to make an offer for issuance of non-convertible debentures (NCDs series A) (1st tranche) on private placement basis on 31 August 2017 aggregating Rs 5000 crore, to be listed on the Stock Exchanges. The net proceeds of the issue will be utilised inter-alia for refinancing of existing borrowings and for any other purpose in the ordinary course of business. The announcement was made after market hours yesterday, 28 August 2017.

Bosch fell 0.57% at Rs 21,691.25. The Workmen's Union of Bengaluru and Bidadi facilities of Bosch have declared a one day strike on 30 August 2017 sighting delay in the closure of the long-term wage settlement.

The management is in discussion with the Union regarding long term wage settlement with the intervention of the Additional Labour Commissioner, Karnataka. The company management believes in bi-lateral discussions to resolve such issues and will continue to engage with the Union. As a fair and value based employer, the company has a very attractive pay package and a selection of welfare measures that match the best in region-cum-industry.

The production loss on account of the strike for a day is estimated to be around Rs 5 crore. However, customer fulfilment will not be adversely affected due to availability of stocks and other alternative measures taken by the Management. The announcement was made during market hours today, 29 August 2017.

Overseas, European and Asian stocks dropped after North Korea fired a missile over northern Japan. North Korea fired a missile early today, 29 August 2017 that flew over Japan and landed in the Pacific waters off the northern region of Hokkaido, South Korea and Japan, in a sharp escalation of tensions on the Korean peninsula.

In economic news, consumer confidence in Germany, Europe's largest economy, is set to improve further in September, reaching its highest level in almost 16 years, market research group GfK's monthly survey showed. GfK's forward-looking consumer sentiment index is set to rise to 10.9 points in September, from 10.8 points in August, GfK said.

French consumer spending rebounded in July after a contraction in June as households in the eurozone's second-largest economy spent more on food and manufactured goods, statistics agency Insee said. Consumer spending rose 0.7% month-on-month and 2.1% year-on-year in July, Insee reported.

Trading in US index futures indicated that the Dow could fall 115 points at the opening bell today, 29 August 2017. US stocks closed on a mixed note yesterday, 28 August 2017, as investors tried to assess the flooding damage caused by Tropical Storm Harvey, powerful hurricane to strike Texas in more than 50 years when it came ashore last week.

In economic news, an early look at US trade patterns in July points to a wider deficit. The advanced trade gap in goods — services are excluded — widened by nearly 1.8% to $65.1 billion in July, the Commerce Department said. Both exports and imports declined, but exports dropped at a faster pace.

Trading for the week after an extended weekend due to a holiday started on a firm note as key benchmark indices settled with modest gains. The barometer index, the S&P BSE Sensex rose 154.76 points or 0.49% to settle at 31,750.82. The Nifty 50 advanced 55.75 points or 0.57% to settle at 9,912.80.

Most of the gains on indices were contributed by surge in IT index heavyweight Infosys following announcement of an overhaul of its board of directors. Meanwhile, geopolitical tensions eased after the government reportedly said India and China agreed to disengagement at Doklam area. Indices gained for the fourth straight session. After opening with modest gains, key indices held firm throughout the session.

Bank stocks gained. IT major Infosys advanced after the company in its press release issued after market hours on Thursday, 24 August 2017, announced an overhaul of its board of directors. Shares of other IT companies also gained. L&T rose after the company said that its construction division won orders valued at Rs 1975 crore across various business segments.

Dr Reddy's Laboratories dropped after the company said a law firm representing a purported investor in the company filed a purported class action lawsuit against the company. Mahindra & Mahindra advanced after the company announced a new strategic direction for its subsidiary, Mahindra Gujarat Tractors (MGTL), now renamed as Gromax Agri Equipment.

The Sensex rose 154.76 points or 0.49% to settle at 31,750.82, its highest closing level since 17 August 2017. The index rose 213.64 points or 0.67% at the day's high of 31,809.70. It gained 105.61 points or 0.33% at the day's low of 31,701.67.

The Nifty 50 advanced 55.75 points or 0.57% to settle at 9,912.80, its highest closing level since 8 August 2017. The index rose 68.70 points or 0.69% at the day's high of 9,925.75. It gained 24.95 points or 0.25% at the day's low of 9,882.

The S&P BSE Mid-Cap index rose 1.02%. The S&P BSE Small-Cap index advanced 1.07%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,613 shares rose and 949 shares declined. A total of 172 shares were unchanged.

The total turnover on BSE amounted to Rs 3631.12 crore, higher than turnover of Rs 3007.53 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE FMCG index (up 1.11%), the BSE IT index (up 1.25%), the BSE Power index (up 1.05%) and the BSE Teck index (up 1.14%) outperformed the Sensex. The BSE Auto index (up 0.38%), the BSE Bankex index (up 0.36%), the BSE Metal index (up 0.31%) and the BSE Oil & Gas index (up 0.37%) underperformed the Sensex.

Bank stocks gained. Among public sector banks, IDBI Bank (up 1.91%), Bank of Baroda (up 0.84%), Punjab National Bank (up 0.69%) and Union Bank of India (up 0.37%) advanced. Indian Bank (down 0.66%) and State Bank of India (down 0.41%) edged lower.

Among private sector banks, Yes Bank (up 1.76%), Axis Bank (up 1.02%), ICICI Bank (up 0.79%), Kotak Mahindra Bank (up 0.17%) and RBL Bank (up 0.17%) gained. IndusInd Bank (down 0.48%) and HDFC Bank (down 0.2%) declined.

IT major Infosys rose 3.14% at Rs 941.15 after the company in its press release issued after market hours on Thursday, 24 August 2017, announced an overhaul of its board of directors (board). The board appointed Nandan Nilekani as a non-executive, non-independent director and as the Chairman of the board with immediate effect. It has accepted the resignation of R Seshasayee as the Chairman of the board and as a director on the board with immediate effect.

The board has accepted the resignation of Dr Vishal Sikka as the Executive Vice-Chairman of the board and as a director on the board with immediate effect. It has accepted the resignation of Professor Jeffrey S Lehman as a director on the board with immediate effect. It has accepted the resignation of Professor John Etchemendy as a director on the board with immediate effect. It has accepted the resignation of Ravi Venkatesan as the Co-Chairman of the board with immediate effect. However, he continues as an independent director.

Infosys' board held its first meeting on Friday, 25 August 2017 chaired by its newly elected Chairman Nandan Nilekani. Nilekani stated that the board is focused on bringing complete stability to the company. It has also tasked its Committee of Directors to work with the CEO (U B Pravin Rao) and management to review and refresh the company's strategy by October.

In recent days there has been considerable discussion of the relationship between the board of directors of Infosys and N. R. Narayana Murthy who established the culture and ethos of Infosys, especially its culture of adhering to high corporate governance standards. The board believes it to be unfortunate that various differences of opinion have arisen between Murthy and the board in the recent past. The board wished to express that it was not its intention to cause Murthy or any other affected person any personal distress or anguish while stating its point of view, the company said in a statement.

Infosys said it has previously authorized investigations into allegations made by anonymous persons regarding the conduct of prior management, and each of these investigations concluded that there was no wrongdoing. While the board and the company are focused on the future, consistent with the company's commitment to good governance, the new Chairman will get a full briefing on these investigations and the appropriate course of action will be decided, the company said.

As the board has stated on numerous occasions, it takes the company's reputation for high corporate governance standards with the utmost seriousness, Infosys said. Hence, it has, as previously disclosed, decided that it will engage in further broad-based shareholder consultations to determine what further, if any, the company can take to ensure that it continues to adhere to high governance standards, Infosys said.

The board has also approved the appointment of the executive recruitment firm Egon Zehnder to work with its Nominations and Remunerations Committee to review and identify the right candidate to be the company's next CEO and MD. Additionally, the Nominations and Remunerations Committee will deliberate on the long term governance structure of the board and present its recommendations at the meeting of the board in October. The board announced that D N Prahlad is appointed as the Chairman of Edgeverve with immediate effect.

Finally, the board would like to state that it is firmly focused on ensuring that the affairs of the company and the interests of all its stakeholders - its customers, employees, shareholders, officers and directors - are harmoniously aligned and enhanced, Infosys said.

Shares of other IT companies also gained. HCL Technologies (up 0.31%), Wipro (up 0.45%), Persistent Systems (up 1.67%) and Oracle Financial Services Software (up 1.22%) edged higher. TCS (down 0.38%) and Tech Mahindra (down 0.05%) edged lower.

Real estate major DLF dropped 3.65% at Rs 179.75. The company said its board approved a 33.34% stake sale in its rental arm — DLF Cyber City Developers (DCCDL) — for Rs 8900 crore to Reco Diamond, an affiliate of Singapore-based GIC Real Estate.

In addition, DCCDL will buy back Rs 3000 crore of preference shares held by promoters in two installments, taking the total money accruing to DLF's promoters to Rs 11900 crore. This entire amount, after paying requisite taxes, will be ploughed by the promoters into DLF as equity, and will be used to reduce the developer's debt. This 6.66% stake to be bought back by DCCDL will be extinguished.

Post completion of series of steps as contemplated in the transaction, DLF shall hold 66.66% equity shares (up from 60% on a fully diluted basis earlier) and Reco Diamond shall hold 33.34% equity shares in DCCDL. The announcement was made on Friday, 25 August 2017.

L&T rose 0.83% at Rs 1,140.65 after the company said that its construction division won orders valued at Rs 1975 crore across various business segments. The announcement was made during market hours today, 28 August 2017.

Dr Reddy's Laboratories lost 2.01% at Rs 2,045.95 after the company said a law firm representing a purported investor in the company filed a purported class action lawsuit against the company. The announcement was made during market hours today, 28 August 2017.

Dr Reddy's Laboratories said that on 25 August 2017, a law firm representing a purported investor in the company, filed a purported class action lawsuit against the company, its CEO, and CFO, in the United States District Court for the District of New Jersey alleging violations of the US federal securities laws. The plaintiff in the lawsuit purports to represent a class of investors who purchased or otherwise acquired the company's publicly traded shares on the New York Stock Exchange between 17 June 2015 through 10 August 2017.

The lawsuit alleged that the company made materially false and/or misleading statements or omissions in connection with its corporate quality system, and specifically in connection with a warning letter from the US Food and Drug Administration dated 6 November 2015, and a letter from the Regierung von Oberbayem in Germany dated 10 August 2017. The lawsuit sought damages to compensate the purported class of investors for a purported decline in the company's share price allegedly caused by the alleged misstatements or omissions.

Dr Reddy's said it has not yet been served with the lawsuit. Dr Reddy's added that it cannot comment on the specific allegations in the pending litigation other than to state that the company believes the asserted claims to be without merit. The company will respond to the allegations after it has been served with the lawsuit and as and when it may be required to do so by the Court, Dr Reddy's said in a statement.

Separately, the company announced during market hours today, 28 August 2017, that it has launched Cefixime for Oral Suspension, USP 100 mg/5mL and 200 mg/5mL, a therapeutic equivalent generic version of Suprax (cefixime) for Oral Suspension, approved by the US Food and Drug Administration (USFDA).

The Suprax brand and generic had US sales of around $50.5 million MAT for the most recent twelve months ending in June 2017 according to IMS Health. Suprax is a registered trademark of Astellas Pharma Inc.

Mahindra & Mahindra (M&M) rose 0.16% at Rs 1,377.95 after the company announced a new strategic direction for its subsidiary, Mahindra Gujarat Tractors (MGTL), now renamed as Gromax Agri Equipment. Gromax will provide distinctive and affordable mechanisation solutions to the farming community. Gromax has also announced the launch of its all new tractor brand, Trakstar. The Trakstar range will be present across five HP points in the 30-50 HP category. The announcement was made during market hours today, 28 August 2017.

Tata Power Company declined 0.44% at Rs 78.90. The company said that its subsidiary Tata Power Renewable Energy (TPREL) increased its generation capacity by 460% in FY 2017 over FY 2016. TPREL generated 1,440 million units (MUs) from renewable energy sources (wind & solar) in FY 2017 as compared to 329 MUs in FY 2016. The announcement was made during market hours today, 28 August 2017.

Bharti Airtel rose 0.49% at Rs 434.95 after the company and Symantec Corp, the world's largest cyber security services provider announced a strategic partnership to serve the growing cyber security requirements of businesses in India, providing protection and prevention of online threats in an increasingly digitally connected world. The announcement was made during market hours today, 28 August 2017.

Airtel will be the exclusive cyber security services partner in India and will distribute Symantec's enterprise security software.

Future Enterprises surged 5.37% at Rs 46.15 after the company announced that its subsidiary Future Supply Chain Solutions (FSCSL) has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a public offer of up to 97.84 lakh equity shares, representing 25% of the existing issued and paid-up equity share capital of FSCSL for cash. The announcement was made after market hours on Thursday, 24 August 2017.

Meanwhile, India and China have reportedly agreed to an “expeditious disengagement” of troops at a disputed border area where their soldiers have been locked in stand-off for more than two months. The decision comes ahead of a summit of the BRICS nations - a grouping that also includes Brazil, Russia and South Africa - in China early next month, which Indian Prime Minister Narendra Modi is expected to attend.

Meanwhile, NITI Aayog's 3-year Action Agenda was reportedly unveiled by the Union Finance Minister Arun Jaitley, along with Minister of State for Petroleum and Natural Gas Dharmendra Pradhan and NITI Aayog Vice Chairman Arvind Panagariya. The Action Agenda is an integral part of the 15-year Vision Document of India being drafted by the NITI Aayog. Think-tank NITI Aayog's three-year action plan (2017-2020) has suggested shifting the composition of expenditures by allocating a larger proportion of additional revenues that become available over time to high-priority sectors. It has replaced the 5-year plan of the erstwhile Planning Commission and would be soon followed by a 15-year vision document and a 7-year strategy document.

Overseas, European stocks edged lower as investors gear up for the next round of Brexit talks in Europe, while keeping a close eye on the moves in oil. Asian stocks were mixed after US and European central bankers didn't provide fresh policy guidance. US stock benchmarks finished with slight gains on Friday, 25 August 2017, halting weekly skids as European Central Bank President Mario Draghi and Federal Reserve Chairwoman Janet Yellen delivered speeches at Jackson Hole, Wyo.

Yellen said the economy was stabilizing but made no specific remarks about monetary policy during her speech at the gathering of central bankers in Wyoming. Later Friday, Draghi said recoveries taking place in global economies are firming, though he said it was at an earlier stage in Europe and Japan.

Also at the Jackson Hole symposium, Bank of Japan Governor Haruhiko Kuroda said the recent pace of growth in the world's third-largest economy is probably unsustainable and pledged to continue with very accommodative monetary policy “for some time” because the BOJ is far from its inflation target.

The consumer price index for Japan in July 2017 was at 100.1, up 0.4% over the past year and the same level as the previous month on a seasonally adjusted basis.

New orders for manufactured durable goods in July decreased by $16.7 billion or 6.8% to $229.2 billion, the US Census Bureau announced.

On the geopolitical front, North Korea fired three ballistic missiles over the weekend and Secretary of State Rex Tillerson said on Sunday, 27 August 2017 that the US will continue to push for negotiations to deescalate nuclear tensions on the Korean peninsula despite the “provocative” acts.

The Sensex rose 491.97 points or 1.57% in four trading sessions from its close of 31,258.85 on 21 August 2017. The Sensex has fallen 764.12 points or 2.35% in August so far (till 28 August 2017). The Sensex has risen 5,124.36 points or 19.24% in the calendar year 2017 so far (till 28 August 2017).

From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,032.89 points or 23.45%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 935.66 points or 2.86%.